Financing your Small Business

Small Business Financing: Small businesses are an important contributor to Canada’s economy. Starting or growing a small business takes planning, hard work and money to make it happen. There are various ways to finance your small business including debt and equity financing, and government finance programs. Each small business is unique and has its own specific finance needs.

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Small and Medium-Sized Enterprises: Fast facts 78 per cent of small- and medium-sized enterprises (SMEs) have a positive relationship with their main financial institution Of the 77 per cent of SME owners who have a credit relationship with a bank, 90 per cent report it to be positive. Banks are committed to helping their clients through tough times: only three per cent of SME owners report banks have not been at all willing to help them weather the recent economic downturn. The bottom line: Banks play an essential role in the business operations of small- and medium-sized businesses, meeting their diverse financial needs to drive innovation, development and growth.

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How To Get Money For Your Business: There are many different ways that you can finance your business. The number of options can be overwhelming sometimes, as can the criteria of lenders and investors. Financing is not always readily available, but you can increase your chances of accessing financing by preparing. Browse through this information to determine what type of financing is best for your business and study the documents on how to make a pitch to a lender or investor.
8 Sources of Business Start-up Money: Having difficulty thinking about where you will get the finances to get you business started? Details on 8 different sources are provided on this website.
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Financing Your New Business: Entrepreneurs often report that getting financing is the most challenging aspect of starting a business. There are both government and private-sector sources of financing that you can tap into to get your business off the ground.
Canada Small Business Financing Program: The Canada Small Business Financing Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. Under the Program, a small business must apply for a loan at a financial institution (bank, credit union or caisse populaire) of its choice. Application is not made to the Canada Small Business Financing Program Directorate. The Canada Small Business Financing (CSBF) Act was enacted in April 1999 to build on the success of its predecessor, the Small Business Loans Act. The Program's objectives are to streamline loan administration, improve its ability to achieve cost recovery and to extend financing that would otherwise have been unavailable to small-and medium-size enterprises. While Industry Canada is responsible for the administration of the Program, financial institutions are responsible for all credit decisions and for making the loans.
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Royal Bank of Canada – Definitive Guides: These FREE guides contain very useful and relevant information. There are currently twelve guides available to be ordered. Some topics include marketing, financing, understanding business cycles, customer loyalty and maximizing cash flow.

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