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 businesses to obtain loans from financial institutions by sharing the risks. Certain 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 business 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 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.