Harper announces expanded finance program for small business
Federal government doubled revenue limit of Canada Small Business Financing Program to $10 million
ST. CATHARINES, Ont.—Prime Minister Stephen Harper says the federal government plans to make it a little easier for small business to access certain financing.
Most companies with gross annual revenue of $10 million or less—up from $5 million—will now be eligible under the Canada Small Business Financing Program.
They can borrow as much as $500,000 each.
The changes will allow more small businesses to borrow money to buy or improve land or buildings.
Harper made the announcement in St. Catharines, Ont.
He said the program, which aims to help new businesses get started and existing ones to grow, will help create jobs.