The Canada Small Business Financing Program helps you with your financing needs. Under the program, the Government of Canada makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.

Specifically, if a borrower defaults on a loan, Industry Canada is responsible for85 percent of any eligible loss under the program. The lender is responsible for the balance of the loss.

Up to a maximum of $500,000* for any one business, of which a maximum of $350,000*can be used for purchasing or improving new or used equipment and for purchasing leasehold improvements or improving leased property where the borrower is a tenant.

* The increase in the maximum loan size was announced in Budget 2009 and is anticipated to be effective on April 1, 2009, or if it is later, on the day the Budget Implementation Act receives Royal Assent.

Source: www.ic.gc.ca