Small Business Financing
Government Grants for Small Business
With a Canada Small Business Financing Act Loan (CSBFL), TD Canada Trust and the Government of Canada work together to help you with the financing of your existing business or start-up. A CSBFL can help you get the loan you need to expand, purchase, or improve the fixed assets within your business.
Features of the CSBFL include:
- Loan amounts available up to $1,000,000 1
- Financing available for up to 90% of the “Eligible Costs” 2 of assets financed
- Monthly repayment frequency with a choice of terms, up to a maximum of 10 years. A repayment schedule reflecting an amortization of up to 20 years may be available 3
- Competitive fixed and floating interest rates are available
- Personal guarantee required, starting at 25% of the loan amount 4
- Loan may only be used for certain purposes
- One-time Federal Government registration fee of 2% of the loan amount (which may be included in the amount borrowed)
- A 1.25% Administration Fee is included as part of your interest rate
- Standard TD Canada Trust Set-up fees apply
Do you qualify?
Here are some of the government’s requirements 5 for a CSBFL:
- Your business operates or is about to operate in Canada
- Your business’s annual gross revenue is less than $10 million in the year you apply
- Your business is for profit, and is not a farm, charity, or religious enterprise
- The assets purchased or improved must be used in your business
For more information about government requirements,
visit the Industry Canada web site.