To assist small businesses in accessing financing, the government is proposing to make changes to the Canada Small Business Financing Program. The proposed changes will allow more small businesses to apply to the program and allow for larger loans to be made available for small businesses to purchase or improve their land or buildings.
These measures will enhance the ability of small businesses across Canada to grow their businesses and create jobs.
The Canada Small Business Financing Program helps new businesses get started, helps established firms make improvements, expands/improves access to loans that would not otherwise be available to small businesses, and stimulates economic growth and creates jobs for Canadians. Since 2006, the Small Business Financing Program has provided over 50,000 loans to small businesses.