Canada Small Business Financing Program
Many old and new firms may attempt to obtain a bank loan, but this is frequently a waste of time. Banks keep a few secrets in addition to your money. To begin with, they will not inform you that the larger the company, the longer you will have to wait for everything, from meeting with an adviser to acquiring approval to receiving funding. Second, if you apply for a loan at a bank with whom you’ve already done business, you won’t be rewarded for your loyalty. Third, small business loans are frequently rejected by banks since they are not a viable financial product for them.
Because many of decent firms are unable to obtain capital from a bank, many look for alternative lenders, where they are overcharged. We at Mortgage Solutions are firm believers that small Canadian businesses deserve better treatment. You should be able to obtain quick and simple financing without paying too much. As a result, Mortgage Solutions provides:
Get a small business loan to improve your credit and expand your options.
Without having to go to a bank or spend hours filling out paperwork, you may qualify in minutes.
When compared to a merchant cash advance or other online lenders, you can save up to 40%.
By sharing risk with lenders, the Canada Small Business Financing Program makes it simpler for the small firms operating in Greater Toronto Area (GTA), Toronto, Brampton Mississauga, Peel Region to get loans from financial institutions. The following expenses can be financed with a loan:
- Land or structures utilized for business reasons are purchased or improved.
- acquisition or enhancement of new or secondhand equipment
- a tenant’s purchase of new or existing leasehold improvements, i.e., upgrades to a leased property
A single borrower can borrow up to $1,000,000, of which no more than $350,000 can be used for leasehold improvements or renovating leased property, as well as acquiring or improving new or used equipment.