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Canada Small Business Financing Program (Canada)
DSIRE/LstUpdt September 5, 2014  +
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/AddlPlaceStates Alberta: Energy Resources + , British Columbia: Energy Resources + , Canada: Energy Resources + , Manitoba: Energy Resources + , New Brunswick: Energy Resources + , Newfoundland and Labrador: Energy Resources + , Nova Scotia: Energy Resources + , Ontario: Energy Resources + , Prince Edward Island: Energy Resources + , Quebec: Energy Resources + , Saskatchewan: Energy Resources +
Incentive/ApplDsc Fuel Distributor  + , Institutional  +
Incentive/ApplDscOther Financial Institutions  +
Incentive/ContDept Industry Canada  +
Incentive/ContDiv Small Business Financing Directorate  +
Incentive/ContEmail  +
Incentive/ContFax 1-613-952-0290  +
Incentive/ContPhone 613-954-5540  +
Incentive/ContPhone2 1-866-959-1699  +
Incentive/ImplSector Federal  +
Incentive/Name Canada Small Business Financing Program (Canada)  +
Incentive/PolicyType Financial Incentive  +
Incentive/ProgAdmin Small Business Financing Directorate  +
Incentive/Summary Since 1961, the Canada Small Business Fina
Since 1961, the Canada Small Business Financing Program (CSBFP) seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. By sharing the risk with a financial institution, the program may help businesses secure up to $500,000. Small businesses or start-ups operating for profit in Canada, with gross annual revenues of $5 million or less. Not eligible under this program are farming businesses (Agriculture and Agri-Food Canada has a similar program for the farming industry — for information, visit, not-for-profit organizations, or charitable and religious organizations. Up to a maximum of $500,000 for any one borrower is available, of which no more than $350,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment. Financial institutions deliver the program. The decision to grant a loan rests entirely with the financial institution. Loans can be used for financing up to 90% of the cost of: - purchasing or improving land, real property or immovables - purchasing new or existing leasehold improvements - purchasing or improving new or used equipment The interest rate is determined by individual financial institutions. The interest rate may be variable or fixed: Variable rate: The maximum chargeable is the lender's prime lending rate plus 3%. Fixed rate: The maximum chargeable is the lender's single family residential mortgage rate plus 3%. A registration fee of 2% of the total amount loaned under the program must also be paid by the borrower to the lender. It can be financed as part of the loan. The registration fee and a portion of the interest are submitted to Industry Canada by the lender to help offset the costs of the program for the government. Lenders are required to take security in the assets financed. Lenders also have the option to take an additional unsecured personal guarantee, which cannot exceed 25% of the total amount loaned.
not exceed 25% of the total amount loaned.  +
Incentive/TechDsc Energy Storage + , Solar Photovoltaics + , Wind energy +
Incentive/TechDscOther Not technology-specific  +
Incentive/Type Loan Program +
Incentive/Website  +
OpenEI/PageDescription Canada Small Business Financing Program (Canada): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Canada  + , Loan Program  + , Small Business Financing Directorate  +
Place Canada: Energy Resources +
Categories EZFeed Policies , Incentive with Contacts
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
01:58:37, 13 February 2015  +
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