Canadian 21st Century Financing –Government Small Business Loans - Why an SBL Loan Is Right

Updated: May 08, 2011

Is your company a ' start up ‘? Or, are you a small to medium sized Canadian business looking for financing choices?

Have we got a deal for you! Well at the risk of sounding like a hack used car salesperson we are actually genuinely excited about some Canadian business financing that a lot of biz folks seem to be overlooking these days. And wait until you hear why.

And the reasons why. Simply that the answer is ' YES ' to our first question. Those are the key elements of Canadian government small business loans. And with all due respect to our friends in government, you don't even deal with them on the loan.

We're talking today about what many folks call the Canada SBL loan. It seems to be one of the better guarded secrets in Canada - even though 7,441 of your peers and competitors in small business used it in Canada last year. Oh, and by the way, they got a total of 957 Million dollars in financing at those great rates, terms, and structures that we mentioned in our opening question to you.

Let's dig in then, and get you very quickly up to speed on the program. You'll be surprised at how clear (hopefully!?) our info is on getting you what you want to know about your participation in the program.

Here we go... strap youself in. The program is administered by the good folks at Industry Canada, but on a day to day basis the loans under this special program are administered by your local banking institution. The program maxes out at 350,000.00$ ... which from our perspective is quite generous, don't you think. And here's a special kicker - if you just want to use the program for real estate you can actually borrow up to $ 500,000.

Financings can be used for equipment, leasehold improvements

Qualifications, simply your 10% equity contribution against the asset you are financing, and a reasonable personal credit history. In Canada those folks with Credit Bureau Scores of 650 are deemed ‘good ' from a credit perspective.

Featured Research
  • 2017 Contact Center Software Cost Guide

    Are you paying too much for your contact center software? Are you satisfied with its capabilities, or do you wish it did more? These are questions most businesses don’t take the time to think about, even though contact center software is one of the most important investments that you’ll make. With a little bit of planning, you can end up saving money and still end up with better functionality. more

  • What You Need to Know About VoIP Security

    No matter the industry or area of expertise, a strong VoIP system is the perfect tool for any business looking to take both its internal and external communication to the next level. more

  • Are You Using These 5 VoIP Features?

    In large part, the success of your business depends on the strength and reliability of your team’s many communication networks—this includes your Voice over Internet Protocol system (VoIP). more

  • Video Conferencing Best Practices

    Video conferencing is quickly becoming one of the most important communication channels for both small and big businesses. As more businesses turn to this technology, expectations about the experience are also rising. It’s not enough to just offer video conferencing as a communication method. You also need to meet minimum audio and visual standards, and there’s even proper etiquette to consider. more

  • 10 Contact Center Myths Busted

    For most forward-thinking companies, the use of contact center software is on the rise. That said, in spite of contact center software’s sudden rise in popularity, a number of myths have begun to take shape. more