The CSBFP is a government-backed loan program designed to help small businesses, especially startups and immigrant entrepreneurs, get access to funding through banks and credit unions.
Important: This is not free money. It’s a loan, but the government guarantees a large portion of it, which makes banks more comfortable lending to new or higher-risk small businesses.
Think of it like this:
You bring your business idea → The bank brings the money → The government shares the risk → Everyone wins.
You can apply if:
✔️ Your business is in Canada
✔️ Your annual revenue is under $10 million
✔️ You are a startup, existing business, sole proprietor, partnership, corporation, or cooperative
You are NOT eligible if:
❌ Your business is farming (farmers must use the Canadian Agricultural Loans Act Program)
Otherwise - most small businesses qualify, including:
Restaurants, cafés, bakeries
Retail stores or online shops
Cleaning services, logistics, trucking
Massage therapy, beauty salons, wellness clinics
Construction, trades, maintenance businesses
Technology startups, consultants, agencies
You can finance:
| Eligible Expenses | Examples |
|---|---|
| Commercial Property | Buying or renovating a shop, clinic, warehouse, or office space |
| Equipment | Massage beds, kitchen equipment, computers, tools, delivery vans |
| Leasehold Improvements | Renovations to a rented space (paint, flooring, counters) |
| Intangible Assets & Working Capital | Software, marketing setup, website development, supplier deposits |
You cannot use it for:
❌ Buying shares of a business
❌ Paying yourself a salary
❌ General personal expenses
You can borrow up to $1.15 million total, broken down as:
| Loan Type | Maximum Amount | Purpose |
|---|---|---|
| Term Loan | Up to $1,000,000 | Property, equipment, leasehold improvements |
| Line of Credit | Up to $150,000 | Working capital |
| Cost Type | Amount |
|---|---|
| Registration Fee | 2% of loan (can be included in loan) |
| Interest (Term Loan) | Prime + 3% (fixed or variable) |
| Interest (Line of Credit) | Prime + 5% |
| Bank Fees | Setup or renewal fees (same as conventional loans) |
Most major banks and credit unions participate. You can approach:
🔗 RBC Royal Bank Small Business Loans
🔗 TD Canada Trust Business Banking
🔗 CIBC Business Financing
🔗 Scotiabank Small Business Loans
🔗 BMO Business Lending
🔗 Vancity Credit Union
🔗 Coast Capital Savings
🔗 Prospera Credit Union
🔗 BDC (Business Development Bank of Canada)
Banks want to see that your business idea is realistic. This is where StartCan Busienss Consulting helps we write business plans based on bank expectations.
Visit or call your local RBC, TD, CIBC, Scotiabank, BMO, Vancity, etc.
Tell them, “I want to apply through the Canada Small Business Financing Program (CSBFP).”
The bank will review and decide. If approved, you receive the loan directly from the bank - not the government.
At StartCan Business Consulting (based in North Vancouver and serving all of Metro Vancouver), we specialize in helping immigrant entrepreneurs secure loans, grants, and startup funding.
Here’s how we support you:
✅ Professional Business Plan Development : Written in bank-ready format
✅ Financial Projections : We prepare realistic forecasts lenders trust
✅ Application & Proposal Consulting : We help you present your case effectively
✅ Bank Referrals : We guide you to the right lender that fits your business type
Whether you are in Burnaby, Surrey, Richmond, Coquitlam, Vancouver, Langley, or Abbotsford, we can meet online.
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🔗 BizPaL — Find Local Permits: https://www.bizpal.ca
🔗 Business Benefits Finder: Explore Other Grants: https://innovation.ised-isde.canada.ca/sbdf/en
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