| | Financing your Small Business |
| | Small Business Financing |
| | Small businesses are an important contributor to Canada’s economy. Starting or growing a small business takes planning, hard work and money to make it happen. There are various ways to finance your small business including debt and equity financing, and government finance programs. Each small business is unique and has its own specific finance needs.
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| | Steps to Growth Capital |
| | A new business guide entitled Steps to Growth Capital / Étapes vers le capital de croissance has been added to the Canada Business website. The guide provides a detailed breakdown of the different steps a business needs to be aware of in order to find external financing and investment.
Please copy and paste the following link into your browser for the French document.
http://www.entreprisescanada.ca/fra/guide/full/801
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| | Small and Medium-Sized Enterprises |
| | Fast facts
78 per cent of small- and medium-sized enterprises (SMEs) have a positive relationship with their main financial institution
Of the 77 per cent of SME owners who have a credit relationship with a bank, 90 per cent report it to be positive.
Banks are committed to helping their clients through tough times: only three per cent of SME owners report banks have not been at all willing to help them weather the recent economic downturn.
The bottom line:
Banks play an essential role in the business operations of small- and medium-sized businesses, meeting their diverse financial needs to drive innovation, development and growth
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| | How To Get Money For Your Business |
| | There are many different ways that you can finance your business. The number of options can be overwhelming sometimes, as can the criteria of lenders and investors.
Financing is not always readily available, but you can increase your chances of accessing financing by preparing. Browse through this information to determine what type of financing is best for your business and study the documents on how to make a pitch to a lender or investor.
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| | 8 Sources of Business Start-up Money |
| | Having difficulty thinking about where you will get the finances to get you business started? Details on 8 different sources are provided on this website.
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| | Types of Financing |
| | Entrepreneurs often report that getting financing is the most challenging aspect of starting or growing a business. If you are looking for money for your business, you should start by understanding the different types of financing so that you can determine which one is right for you.
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| | Canadian Angel Investment Network |
| | The Canadian Angel Investment Network is an organization that connects entrepreneurs to investors on a web-based portal. An Angel is an investor who helps finance the start-up of a business that they see potential in.
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| | Government Financing |
| | Government departments and agencies provide financing such as grants and contributions, subsidies and loan guarantees
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| | Canada Small Business Financing Program |
| | The Canada Small Business Financing Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. Under the Program, a small business must apply for a loan at a financial institution (bank, credit union or caisse populaire) of its choice. Application is not made to the Canada Small Business Financing Program Directorate.
The Canada Small Business Financing (CSBF) Act was enacted in April 1999 to build on the success of its predecessor, the Small Business Loans Act. The Program's objectives are to streamline loan administration, improve its ability to achieve cost recovery and to extend financing that would otherwise have been unavailable to small-and medium-size enterprises.
While Industry Canada is responsible for the administration of the Program, financial institutions are responsible for all credit decisions and for making the loans.
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