Big help is here for small business financing
(NC) – Small businesses are essential to the strength of our economy, a fact recognized by the federal government. For more than 50 years, the federal government has been helping entrepreneurs access financing for their businesses so that they can grow and succeed. The Canada Small Business Financing Program has already facilitated billions of dollars in small business loans.
The program's main objectives are to help new and existing small businesses access financing that would not otherwise be available. This allows entrepreneurs to create jobs and stimulate economic growth. Financing is available for purchasing or improving equipment and commercial buildings. Any one business can access up to $500,000 of which no more than $350,000 can be used for equipment and leasehold improvements.
To apply for a loan, you must present your business proposal directly to a participating chartered bank, credit union, or caisse populaire.Your financial institution is responsible for approving the loan. To find a participating lender near you, visit the Industry Canada website at www.ic.gc.ca/csbfp, or call toll-free 1-866-959-1699.
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