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ARTICLE · 11 SEPTEMBER 2025

Competition Bureau To Conduct Market Study On Small And Medium-Sized Enterprise Lending

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On September 4, 2025, the Canadian Competition Bureau (Bureau) announced its intention to conduct a market study into the state of competition for lending to small and medium-sized enterprises (SMEs) in Canada.

CanadaAntitrust/Competition Law
Blakes Competition & Antitrust Group
Blakes Competition & Antitrust Group
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On September 4, 2025, the Canadian Competition Bureau (Bureau) announced its intention to conduct a market study into the state of competition for lending to small and medium-sized enterprises (SMEs) in Canada.

The Bureau has released a consultation paper outlining the market study's purpose and scope and has invited interested parties to provide their views on the proposed market study's terms of reference.

The Bureau's market study will consider the following topics:

  1. Competitive dynamics in the SME financing sector
  2. Barriers to entry or expansion in providing financing to SMEs
  3. Barriers to switching lenders

The market study will focus on term loans and exclude other lending products such as trade credit, lines of credit, commercial mortgages and equity financing. The Bureau will publish the results of the market study and may make recommendations that, in the Bureau's view, would improve competition.

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