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.