Government Supported Programs
CIBC supports a range of government sponsored programs aimed at helping clients whether they are starting or expanding a business, or require protection against business risks.
Canada Small Business Financing Program
The Canada Small Business Financing Program makes it easier for small businesses to obtain loans from financial institutions by sharing the risks. Certain small businesses operating for profit in Canada with gross annual revenues of $5 million or less are eligible. A maximum of $500,000 can be borrowed for any one business, of which no more than $350,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment. For more information speak to your CIBC Advisor.
Alternatively, please call the Canada Small Business Financing Program info line at 1-866-959-1699 or visit www.ic.gc.ca/csbfa. Please note that agricultural small businesses are not eligible with lenders.
Canadian Agricultural Loans Act
The Federal Government has launched The Canadian Agricultural Loans Act (CALA) to provide loans to new and existing farmers and agricultural co-operatives.
For more information contact a CIBC business advisor or an Agriculture Banking Specialist.
Alberta Flood Recovery Loan Guarantee Program (AFRLGP)
An integral part of CIBC’s commitment to our clients is to help them achieve what matters to them and their businesses, when it matters most.
As part of CIBC’s efforts to support those affected by the June 2013 floods in Alberta, CIBC is participating in the government sponsored Alberta Flood Recovery Loan Guarantee Program (AFRLGP). The program is designed to help ensure capital is quickly made available to Alberta businesses affected by the floods to help them restore their business operations. It will be made available to all qualifying businesses until December 31, 2013.
Contact a CIBC advisor for more information.