Federal financing for small businesses in Canada

Federal financing for small businesses in Canada is facilitated via a number of programs and agencies. Financing is available in the form of grants (sometimes called "non-repayable contributions"), loans, loan guarantees, income support and subsidized hiring and/or training programs. The government also provides funding for no-cost or subsidized services to small businesses, including workshops, business plan consulting, education, and federally sponsored trade missions. Financing, and federally funded or subsidized services are available both to established businesses looking to grow or expand into new markets and to entrepreneurs seeking to launch a new business.

Definitions

Funding Sources

Funding and supportive services are administered by a variety of central, provincial, regional and local offices, including federal government departments, federal government agencies, non-profit corporations, financial institutions and chartered banks. Programs may be targeted by industry, region, or other criteria, such as programs for young entrepreneurs or Aboriginal entrepreneurs. Application requirements for federal grants and loans programs vary, but often include at minimum a completed business plan.

References

  1. "Canada Small Business Financing Act (S.C. 1998, c. 36)". Justice Laws Website. Retrieved March 27, 2013.
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