small business government loans financing canada
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How Do Small Business Government Loans Work For  Financing A Company In Canada?
Here’s some essential info on Canadian SBL loans





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If you're a start up business in Canada, or, if you're already in business and need additional financing one alternative, and it’s a great one, is Small Business Government Loans.  But how do they work and what exactly are the benefits?  And the government? Let's explain!


If there is one government solution and program we can believe in we've always thought that the BIL/CSBF program (aka ' the SBL Loan ‘) is the one.  Whether you're a start up or a small business already in motion financing assistance is available through these loans.  Stat's show that over  8000 businesses a year  apply for and qualify for this business finance, and there isn't really a reason why you shouldn’t be one of them .


In fact you can even be a proprietorship, not a legal company to qualify, which many find surprising.  In the U.S. this program is commonly called the SBA program and it has a lot more breadth. But we're not complaining because low rate financing with flexible rates, terms and structures and limited personal guarantees is nothing you'll find us complaining about.


Probably one of the first questions we get from clients, perhaps its more of a concern is their concern as to government red tape, etc. That concern is one that needn't exist, because the government, via Industry Canada charters’ our local banks to facilitate the program for them. And because they like you so much, the good folks in Ottawa actually guarantee most of your loan to the banks. Well, maybe that's over personalizing it a bit!  But the reality is that the loan is guaranteed to the banks, which for you is a good thing!


What can you use the funds for? That's where clients are looking for some real clarity. And here, unfortunately is where misinformation abounds!


Small business government loans can be used for real estate, equipment, leaseholds, computers, software, and fixed assets for your company or business.  They can not be used for working capital, inventory, goodwill, franchisee fees, etc. We say ' franchise fees' because thousands of franchises in Canada are financed by this program.  And you company qualifies if you are a start up or have revenues under 5 Million dollars.


We would never be accused of saying the SBL is ' easy money ‘. It's not, but its available, flexible, and the application process is  as straight forward, maybe even more so  than any other business financing . All you have to do is ensure you have a proper loan submission that includes a business plan and cash flow forecast along with the other back up info that you would associate with other business loan applications.


So, SBL loans. Here's one case where ' Small ‘ is good , and by the way the 350k cap is hardly an amount of financing that can be considered  that small !  Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can put you on the fast track to some major financing for your small or new business.








small business government loans financing canada

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