The Canada Small Business Financing Program (CSBFP) is a collaboration between the federal government and financial institutions like Affinity. We work with the government to help established businesses and startups get the financing they need.
Here’s who qualifies:
- corporations, sole proprietorships, partnerships and co-operatives in Canada with gross revenue under $10 million
- charitable and religious organizations aren’t eligible under this program. Farming businesses have another federal government program they can apply to
You can get a maximum loan of $1 million under CSBFP. No more than $350,000 of that can be used to finance equipment purchases or improvements, or purchase leasehold improvements.
Loans can finance the following purchases:
- land or buildings used for commercial purposes
- new or used equipment
- new or existing leasehold improvements, including renovations to a leased property by a tenant
- the registration fee for the loan
Items such as goodwill, working capital, inventories, franchise fees, or assets that a holding company acquires aren’t eligible for financing.
These are the costs that come with the CSBFP loan:
- 2% registration fee, which can be financed as part of the loan
- normal lending fees
Start your application by giving us a call at 1.866.863.6237 or book an appointment online!