Canada Small Business Financing Loan
Canada Small Business Financing Loan or (CSBFL) as it is commonly referred to is a financing program created by the Federal government to make it easier for small businesses to get financing.
- It is used to finance leasehold improvements and fixed assets such as equipments and buildings.
- Loan amounts are available for up to $500,000 for real estate loans and 350,000 for equipments and leaseholds.
- Financing is available for up to 90% of eligible costs mentioned above.
- Repayment options can be made in monthly installments with a fixed or variable interest term.
- It is noteworthy that Personal guarantee is required for only 25% of the original loan amount.
- The CSBFL comes with a one time government registration fee of 2% of the loan amount. For instance, if you borrow $100,000, be prepared to pay $2,000 dollars extra in fees. Some banks may allow you to include the 2% fee to the loan amount for financing.
- Contact us for more details.
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