The Canada Small Business Financing Program (CSBFP) is a collaboration between the federal government and financial institutions like Alpha Guarantee Bank. 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 info@alphaguarantees.com or book an appointment online!