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Here's what you get
- Total loan of up to $1,000,0002 with the following subcategories:
• Up to $1,000,0002 in financing to buy or improve real property
• Up to $500,0002 in financing for equipment and/or leasehold improvement of which up to $150,0002 can be used to finance intangible assets and/or working capital - Financing available for up to 90% of the "Eligible Costs"3 of assets financed
- Amortization on loans for equipment, leasehold improvements, intangible assets, working capital and real property secured or owner-occupied real property improvements up to 15 years. A repayment schedule reflecting an amortization of up to 25 years may be available for real property loans4
- Competitive fixed and floating interest rates are available with monthly repayment frequency
- Personal guarantee required, starting at 25% of the loan amount5
- One-time Federal Government registration fee of 2% of the loan amount. You can pay the fee upfront or include it in your loan amount, provided you do not exceed the maximum limit of the corresponding loan category
- Your business operates or is about to operate in Canada
- Your business’ annual gross revenue is less than $10 million in the year you apply
- Your business is for profit, and is not a farm, charity, or religious enterprise
- The assets purchased or improved must be used in your business
- For more information and additional government requirements, visit the Industry Canada website