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ARTICLE · 03 OCTOBER 2022

Changes To The Canada Small Business Financing Program

Sotos LLP
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On July 4, 2022, certain amendments to the Canada Small Business Financing Regulations and Canada Small Business Financing Act came into force, resulting in changes to the Canada Small Business Financing Program (the "CSBFP").

CanadaCorporate/Commercial Law
Anna Thompson-Amadei
Anna Thompson-Amadei
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On July 4, 2022, certain amendments to the Canada Small Business Financing Regulations and Canada Small Business Financing Act came into force, resulting in changes to the Canada Small Business Financing Program (the “CSBFP”).  The CSBFP is intended to make it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.1 The amendments to the CSBFP provide lenders and small businesses with additional financing products, including a new class of loans, increased loan amounts and terms, improved loan conditions and decreased administrative burdens.  Several of these changes will be beneficial to both franchisors and franchisees.  Below is a summary of certain of these amendments2:

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