Business Loans — Canadian Small Business Financing Program (CSBFP) Loan
$1,500,000.00
Loan
Description:
Canadian Small Business Financing Program (CSBFP) Loan is designed to assist small businesses in securing financing for various business pursposes.
Comments on Funding:
With maximum funding amount of $1.15 million, including:
$1 million for term loans with up to $500,000 for equipment and leasehold improvements and $150,000 for intangible assets and working capital cost.
A $150,000 line of credit for working capital costs. (This is completely separate from the $150,000 portion of the loan mentioned above.)
Term Loan: maximum of 15 years. For Line of credit, maximum of 5 years.
Fees: 2% registration fee with the ability to finance.
Other loan application fees may apply.
Continuous Intake
Eligibility:
Applicants must be any new or existing small business operating in Canada with gross annual revenue under $10 million qualifies for this loan. This includes sole proprietorships, partnerships, corporations and qualifying cooperatives.
In 2021 the Government of Canada updated the CSBFP definition of “small business” to include not-for-profit, charitable and religious organizations that carry on businesses.
Application Steps:
Applicants must connect with an ATB Business expert.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
Please note that the maximum amount that a borrower can have at any time includes the total of outstanding principal balances of all other CSBFA term loans. Also, if the registration fee is financed, the maximum loan amounts would include the amount of the registration fee.
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Maurice
