In addition to the material covered in this course, we put together this grid for you to take a look at with information about other loans that you can find in Canada:
Loans and Capital Investments
Entity
Program
Description
requirements
amount
other info
website
Canada Digital Adoption Program
Support for SMEs to adopt new technologies
The Boost your Business Technology Stream will offer support to small and medium Canadian-owned businesses (SMEs), such as small manufacturing and food processing operations, to adopt new technologies. Support for these businesses will be in the form of grants to offset the cost of retaining Digital Advisors who will develop digital adoption plans tailored to the business. The grant will cover 90% of the cost to develop the digital plan, up to 100,000) as well as a wage subsidy up to $7,300 for a youth placement.
Had annual revenues between 100,000,000 in either 2020, 2019 or 2018
The grant will cover 90% of the cost to develop the digital plan, up to $15,000.
N/A
https://www.ic.gc.ca/eic/site/152.nsf/eng/00013.html
Canada Small Business Financing Program
Loan guarantee for capital purchases
Access funds for land, buildings, leasehold improvements and purchases of new or used equipment.
Maximum annual revenues of $10 million
Maximum amount: 350K maximum for equipment and leasehold improvements
Registration fee: 2% of the loan (can be rolled into loan if within maximums permitted) Repayable Maximum variable rate: Lender’s prime +3% Maximum fixed rate: lender’s single family residential mortgage rate +3%
https://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/home
Futurpreneur Canada Start-Up Program
Financing for young entrepreneurs
Get a collateral-free loan of up to $60,000, along with 2 years of expert business mentoring to get your startup off the ground if you’re 18–39 years old.
Maximum amount: 40,000 from BDC (if needed) Application fee: $50
Futurpreneur: Canadian Imperial Bank of Commerce (CIBC) prime rate + 3.75% Business Development Bank of Canada (BDC): Floating base rate + 5%
WeBC
Loans for young women entrepreneurs in British Columbia
If you are a woman between the ages of 19 and 39, you could access a loan of up to $70,000 with flexible repayment options, as well as free, ongoing business advice from your personal business advisor.
Maximum: $70,000
EDC
Security guarantee for exporters
Get 100% coverage of bonds posted by your bank on your behalf. Free up your cash flow, issue letters of guarantee without putting up cash or credit to your financial institution as collateral.
Futurpreneur Canada
Loan for young professionals to develop a side business
If you’re a young professional (18 to 39 years old) with a full-time job, you can get up to $15,000 and mentoring to launch or grow a side business.
Are a Canadian entrepreneur between the ages of 18-39 Have a source of sustainable full-time income outside of your side business Agree to work with a mentor for up to two years Generate enough disposable income to service the loan repayment Do not intend to convert the side business to a full-time operation within the next 12 months
Maximum: $15,000
CIBC prime rate + 3% Maximum interest-only payments: 12 months Principal repayment in equal monthly instalments together with interest over remaining 3 years Maximum: 4 year term Loan management fee: 1% of total loan amount
Employee Share Ownership Plan
Investment capital for BC businesses
Raise capital by selling shares of your business to your employees, who in return receive a 20% tax credit for investing.
Venture Capital Corporation
Equity investments for BC businesses
Individuals and corporate investors can get a tax refund of 30 % when they invest in a registered British Columbia Venture Capital Corporation.
Protection against foreign exchange risk
Protection against foreign exchange risk
Your EDC-approved financial institution or foreign exchange service provider will receive a 100% risk transfer solution on eligible foreign exchange contracts of up to 3 years, without you having to post collateral as payment assurance. This frees up your cash flow to take on more business and protect your profit margins.
FinDev Canada Financing and Investment
Loans and investments for businesses operating in developing countries
Direct loans, loan guarantees, structured project financing and investments are available for companies operating in developing countries that bring sustainable social and economic benefits to local communities.
Minimum: $5,000,000
Maximum: $20,000,000
TACC Conventional Loan
Conventional business loans for Indigenous entrepreneurs in Coast Salish
Get up to $250,000 with a sliding scale interest rate and flexible amortization if you want to start or grow a business in the Coast Salish Territory.
Maximum: $250,000
This program will cover a maximum of 85% of eligible costs.
WeBC
Loans for British Columbia women entrepreneurs
Get expert advice, as well as a loan of up to $150,000 for your market-ready start-up, expansion project, or business purchases, with flexible repayment options.
Maximum: $150,000
Rise
Business loans for entrepreneurs
If you have experienced mental health and/or addiction challenges, you could get a low-interest loan up to $10,000 to launch or grow your small business and access resources to improve your business skills.
Are a motivated entrepreneur Self-identify as an individual who has experienced mental health and/or addiction challenges Are unable to access traditional bank financing for your small business Are not in active bankruptcy, behind on child-support payments or government taxes Reside in Canada Are a Canadian citizen or Permanent Resident
Maximum: 4,000 Average 3-year loan term Defer repayments for 30 days
Get assistance in reviewing your business plan Access resources to help improve your business skills and financial management Connect with a mentor that will provide you with their extensive experience and business knowledge
EDC
Financing for large-scale international infrastructure projects
Get financing for challenging projects, with solutions specifically designed for limited-use financing of long-term capital-intensive projects. Get step-by-step advice, market insights and expertise across a range of sectors.
Young Entrepreneur Loan
Loans for youth-led food, beverage and agri-businesses
If you are under 40 years old, get a loan of up to $1.5 million to launch a new business or improve your existing operation.
Agribusiness Financing
Financial support for agribusinesses
Get a repayable loan to help minimize your operating costs, or to diversify or expand your business, as well as specialized planning and operations support from experts.
Young Farmers
Loans for farmers under 40 years old
Get customized financing for your agriculture business with the Starter Loan, and up to $1.5 million with the Young Farmer Loan. Attend free events and webinars to sharpen your farm management practices.
If you can’t find one that covers all your needs, we invite you to take a look at Concierge Services. This service will have you answer several questions and make suggestions for funding opportunities.
Suggested Prompts
How can small businesses determine which of these loan programs best suits their specific needs and growth plans?
What are the potential risks or downsides associated with utilizing government-backed or specialized loans for business funding?
In what ways might these various loan options impact a company’s financial health and long-term sustainability?
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Introduction
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Introduction: What is Non Dilutive Funding?
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Introduction: Resources
Loans available in Canada
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Loans Available in Canada: Resources
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Loans Available in Canada: RBCx
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Loans Available in Canada: TIMIA Capital
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Loans Available in Canada: Clear.Co
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Loans Available in Canada: Canada Small Business Financing Program (CSBFP)
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Loans Available in Canada: WeBC - Loans for Young Women Entrepreneurs in British Columbia
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Loans Available in Canada: Other Loans (list)
BDC
Tax Credits
Talent
Grants
Other Sources Available in Canada