Canada Small Business Financing Act
Annual Report 2010–2011

Minister's Message

I am pleased to present to Parliament the Canada Small Business Financing (CSBF) Program's annual report for 2010–11 pursuant to section 20 of the Canada Small Business Financing Act.

The Government of Canada recognized 2011 as the Year of the Entrepreneur, highlighting the essential role small businesses play in job creation, generating wealth in the Canadian economy and securing Canada's ongoing economic recovery.

Since 1961, the CSBF Program and its predecessor, the Small Business Loans Program, have contributed to Canada's economy and have remained relevant to the needs of small businesses by increasing the availability of financing for their establishment, expansion, modernization and improvement.

In 2010–11 the CSBF Program registered over 7400 loans worth more than $1 billion made by financial institutions to small businesses. Fifty-seven percent of the loan values were made to small businesses that were in operation for less than one year, fulfilling an important aspect of the program by extending financing that would have otherwise been unavailable.

The Canada Small Business Financing Program is an important part of our support for Canadian small businesses.

Christian Paradis