A government program to help existing businesses or start-ups acquire the necessary financing to purchase equipment, leaseholds improvements, intangible assets, working capital costs, and property.
Canadian Small Business Financing Program – Term Loan1
A government program to help existing businesses or start-ups acquire the necessary financing to purchase equipment, leaseholds improvements, intangible assets, working capital costs, and property.
Contact us- Registration fee can be included in the term loan
- Helping in the first year with cash crunches by not paying the principal payments for 11 months
- Competitive fixed and variable rates available
- Government guarantee up to 85%
- Financing available up to $1,000,0002
Product Eligibility
- You are an existing small business or start-up (Not for Profit, charitable, and religious organizations included)
- Your business is located in Canada
- Your gross or projected annual revenue is $10 million or less
- You are not in the farming business
Program overview
Purchase of leasehold improvements, equipment (including vehicles for business purposes), real property (including real property improvements), intangible assets, and working capital are eligible for financing under the program.
Up to 90% of eligible purchases which are subject to the following program maximums2:
- Up to $500,000 for leasehold improvements and or equipment financing
- Up to $150,000 for intangible assets and working capital costs within the $500,000 leasehold and equipment limit
- Up to $1,000,000 for real property purchase or improvements
- Up to 15 years for leaseholds & equipment loans
- Up to 20 years for real property loans
A loan registration fee equivalent to 2% of the loan amount is payable to the Government of Canada and is payable at the time of the loan advance. This fee may be financed subject to program loan maximums.
Protect the business you’ve worked so hard to build.
Scotia Business Loan Protection can protect your business by covering your regular payments or paying your outstanding amount on your Line of Credit, Loan, or Credit Card if you or any key employee is unable to work due to a disability or suddenly passes away. Choose the coverage that is right for you and your business.
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1
What is provided here is a summary of the features of the Canadian Small Business Financing Program. For full details speak to a Scotiabank Small Business Advisor. Canadian Small Business Financing Program – Term Loan is subject to terms and conditions.
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2
Subject to credit approval and security has been provided as required.