Government-Guaranteed Loans to Support the Growth of Your Business
Small businesses looking to purchase or improve their assets for new or expanded operations could benefit from the Canada Small Business Financing Loan (CSBFL). This loan is a government-sponsored loan program that offers up to $1,000,000 ($350,000 for equipment and leasehold improvements) to small businesses in Canada.
A Canada Small Business Financing Loan Is Commonly Used For:
- New businesses looking for financial support to start or grow a company
- Established businesses experiencing issues with cash flow as a result of a large investment
Loan Is Guaranteed
85% of the loan is guaranteed by the Federal government.
Previous Purchases Are Eligible
Purchases made within the past six months are eligible for financing.
Repayment Options That Work for You
- Floating rate principal plus interest
- Floating rate principal including interest (blended payments)
- Fixed rate principal plus interest rate
- Fixed rate principal including interest (blended payments)
Terms That Meet Your Needs
- Equipment loans up to a 10-year amortization
- Leasehold improvements up to a 7-year amortization
- Real property loans/ immovable up to 15-year amortization
What Else Do You Need to Know?
Document preparation fee: $175
Application fee: $100
Renewal fee $0 (if stand-alone CSBFL)
Registration Fee: One-time Federal Government registration fee of 2% of the loan amount (which may be included in the amount borrowed)
A 1.25% Administration Fee is included as part of your interest rate
You May Also Be Interested In:
Automated Payroll by ADP
Streamline your employee payroll process with ADP—with automatic tax remittance and deposits.
Improve your cash flow with Moneris. Accept debit and credit card payments any way your customers want to pay, in-store, online or on mobile.
Everyday Operating Accounts
Stay on top of the day-to-day financial needs of your business.
The calculations and amortization schedule produced are: (i) based on the accuracy and completeness of the data you have entered, (ii) based on assumptions that are believed to be reasonable, and (iii) for estimation purposes only and should not be relied upon for specific financial or other advice. When you make your credit application, interest rates may have changed or may be different due to information contained in your application.
Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or calculations in connection with this business loan calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or calculations, or any action or decision made by you in reliance on any information or calculations.