With the Federal governments realization that access to credit is the life blood of business it has taken a bold step and freed up literally billions of dollars to be directed and utilized in helping to strengthen Canadian businesses, in order to aid them in competing globally. One of the first changes has been the Canada Small Business Financing program limit of $250,000 has been raised to $350,000. If the funds are to be used to purchase commercial property the limit has been raised to $500,000 which is much more reasonable amount. These changes are only the beginning. The BCAP (Business Credit Availability Program) is just in the early stages of development. As this program continues to grow we will keep you posted.
So what does all this mean for you business? If you have ever considered upgrading machinery, expanding operations, buying instead of renting your facility now is the time. These programs will probably expire in the next few years so don't wait to long to consider these options. If you have any questions about these programs feel free to call us anytime 905-233-4208.
