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ARTICLE · 09 DECEMBER 2022

Changes To The Canada Small Business Financing Program And Impacts On Lending Moving Forward

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On July 4, 2022, amendments were made to the Canada Small Business Financing Regulations and Canada Small Business Financing Act, resulting in important changes...

CanadaFinance and Banking
Bria Fallen
Bria Fallen
Viviana Heather
Viviana Heather
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On July 4, 2022, amendments were made to the Canada Small Business Financing Regulations and Canada Small Business Financing Act, resulting in important changes to the Canada Small Business Financing Program (CSBFP). The amendments make available to lenders and small businesses additional financing products, a new class of loans and increased loan amounts and longer terms. The CSBFP continues to offer federal government-guaranteed financing to eligible Canadian small businesses provided certain eligibility criteria are met - an attractive feature of the CSBFP for lenders and borrowers alike. The program is administered by financial institutions across Canada. This comment will summarize some of the important recent amendments to the CSBFP.

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