Small Business, Tourism and Marketplace Services

Regulatory Initiative: Amendments to the Canada Small Business Financing Regulations, 2014 – Forward Regulatory Plan 2013-15

Title or working title of the regulatory initiative:

Amendments to the Canada Small Business Financing Regulations

Description of objective:

The proposed amendments are to the Canada Small Business Financing Regulations, under the authority of the Canada Small Business Financing Act.

The Canada Small Business Financing Program (CSBFP) is a loan-loss sharing program, governed by the Canada Small Business Financing Act and the Canada Small Business Financing Regulations, which allows the Government to fill a market gap by sharing the risk of lending to small businesses with financial institutions.

The Regulations are being amended to help ensure the long-term viability of the Canada Small Business Financing Program by addressing a number of issues raised by stakeholders.  In particular, they will: enhance the availability of asset-based financing to small businesses, particularly start-ups; reduce the administrative burden of the program and make it easier to use; and, mitigate the risks to the Government of Canada by improving fraud detection and deterrence. 

The CSBFP is a loan-loss sharing program administered by Industry Canada and delivered by private-sector lenders. The CSBFP increases the availability of asset-based loans for establishing, expanding, modernizing and improving small business.

Indication of business impacts:

There may be business impacts. The “One-for-One” Rule and/or the Small Business Lens may apply.

Public Consultation:

Interested stakeholders were given an opportunity to comment when the proposed amendments were pre-published in Canada Gazette, Part 1 on October 13, 2012.

Departmental Contact:

Small Business, Tourism and Marketplace Services

If you wish to contact the department please use the following address: csbfr-rfpec@ic.gc.ca

For more information

To learn about upcoming or ongoing consultations on proposed federal regulations, visit the Canada Gazette and Consulting with Canadians Web sites.