The Canada Small Business Financing Program seeks to increase the availability of loans and capital leases for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions and leasing companies to make their financing available to small businesses. Under the Program, a small business must apply for a loan or lease at a financial institution (bank, credit union or caisse populaire) or a participating leasing company of its choice. If the loan or lease is granted by the financial institution or the leasing company, the federal government will reimburse 85 percent of the lender's or lessor's losses in the event of default.
Source: www.strategis.gc.ca (Industry Canada)
Last revision on August 15, 2005