Canada’s small businesses and our innovative entrepreneurs who scale-up their companies and create good jobs need access to financing in order to recover, create good jobs, and invest their long-term growth.
We will move forward with our plan to unleash investments by improving the Canada Small Business Financing Program. This will increase annual financing by an estimated $560 million, supporting approximately 2,900 additional small businesses.
A re-elected Liberal government will:
- Increase the maximum loan amount from $350,000 to $500,000 and extend loan coverage from 10 to 15 years for equipment and leasehold improvements.
- Expand borrower eligibility to include non-profit and charitable social enterprises.
- Introduce a new line of credit.
- Expand loan class eligibility to include lending against intellectual property as well as start-up assets and expenses.