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Figure Descriptions (continued)

Figure 28 — Loan(s) Covered by Federal Government Program

This table provides the answer to the question:
Q13: Was your loan(s) covered by a program offered by the federal government that provides a guarantee on loans to small business?

Loan(s) Covered by Federal Government Program
Loan covered Percentage
CSBFP
borrowers 		SMEs
  • Base= those who received loan(s)
  • DK/NR=1-4%
Yes 72 9
No 23 87

Back to Figure 28

Figure 29 — Loan(s) Covered by Federal Government Program (over time)

Loan(s) Covered by Federal Government Program (over time)
Year Percentage that said 'yes'
CSBFP
borrowers 		SMEs
2007 72 9
2001 71 24

Back to Figure 29

Figure 30 — Recall Name of Federal Government Program: CSBFP Borrowers

This table provides the answer to the question:
Q14: Do you remember the name of the program? If so, what is it?

Recall Name of Federal Government Program: CSBFP Borrowers
Program Percentage
CSBFP
borrowers
  • Base=225; those whose loans were covered by federal program
Small business loan program 28
CSBFP 7
BIL 2
Guaranteed loans for SB 3
Other 2
No/Can't Recall 58

Back to Figure 30

Figure 31 — Informed of Federal Loan Program

This table provides the answer to the question:
Q15: Did the financial institution that turned down your application for a loan bring to your attention any programs offered by the federal government that provide a guarantee on loans to small business?

Informed of Federal Loan Program
Informed Percentage
CSBFP
borrowers 		SMEs
  • Base= those turned down for loan
  • CSBFP borrowers (n=21)
  • SMEs (n=25)
Yes 10 4
No 76 96
Not sure/Can't recall 14 0

Back to Figure 31

Figure 32 — Unaided Recall of Federal Loan Programs

This table provides the answer to the question:
Q17: Are you aware of any programs of the federal government that guarantee the loans of small businesses and share the risk with the financial institution?

Unaided Recall of Federal Loan Programs
Awareness Percentage
CSBFP
borrowers 		SMEs
  • Base=those not aware via previous loan/loan denial
  • DK/NR=1%
  • CSBFP borrowers (n=486)
  • SMEs (n=503)
Yes 53 28
No 46 72

Back to Figure 32

Figure 33 — Total Awareness of Federal Government Guaranteed Loans Programs (unaided awareness): CSBFP Borrowers

Total Awareness of Federal Government Guaranteed Loans Programs (unaided awareness): CSBFP Borrowers
Awareness Percentage
CSBFP
borrowers
Yes 71%
No 29%

Back to Figure 33

Figure 34 — Total Awareness of Federal Government Guaranteed Loans Programs (unaided awareness): SMEs

Total Awareness of Federal Government Guaranteed Loans Programs (unaided awareness): SMEs
Awareness Percentage
SMEs
Yes 28%
No 72%

Back to Figure 34

Figure 35 — Awareness of CSBF Program by Name (CSBFP Borrowers vs. SMEs)

This table provides the answer to the question:
Q19. Have you heard about the Canada Small Business Financing Program also known as CSBFP?

Awareness of CSBF Program by Name (CSBFP Borrowers vs. SMEs)
Awareness Percentage
CSBFP
borrowers 		SMEs
  • CSBFP borrowers (base=481)
  • SMEs (base=502)
  • Base= those not aware of the program via previous loan/refusal
Yes 22 19
No 72 74

Back to Figure 35

Figure 36 — Overview of Awareness: CSBFP Borrowers

Overview of Awareness: CSBFP Borrowers
Awareness Percentage
Unprompted awareness of CSBFP 4
Prompted awareness of CSBFP 21
Aware of program, no name 51
Not aware of any federal loan program 24

Back to Figure 36

Figure 37 — Overview of Awareness: SMEs

Overview of Awareness: SMEs
Awareness Percentage
Unprompted awareness of CSBFP 0
Prompted awareness of CSBFP 19
Aware of program, no name 20
Not aware of any federal loan program 61

Back to Figure 37

Figure 38 — Knowledge of CSBFP: CSBFP borrowers

This table provides the answer to the question:
Q20. What do you know about the Canada Small Business Financing Program?

Knowledge of CSBFP: CSBFP borrowers
Knowledge Percentage
CSBFP
borrowers
  • Base=126; those aware of CSBFP
  • DK/NR=3%
  • Two responses accepted
Government program to help small businesses 27
Losses shared by government 17
Fewer guarantees required 14
Maximum financing amount 6
Restricted loans 6
Bank administered program 5
Too expensive 4
Program registration fees 4
Nothing 37
Other 4

Back to Figure 38

Figure 39 — Knowledge of CSBFP: SMEs

This table provides the answer to the question:
Q20: What do you know about the Canada Small Business Financing Program?

Knowledge of CSBFP: SMEs
Knowledge Percentage
SMEs
  • Base=96; those aware of CSBFP
  • DK/NR=1%
  • Two responses accepted
Government Program to help small businesses 22
Fewer guarantees required 6
Many rigid criteria 6
Maximum financing amount 3
Restricted loans 3
Losses shared by government 2
Too expensive 2
Program registration fees 1
Nothing 57
Other 6

Back to Figure 39

Figure 40 — Source of Info about CSBFP: CSBFP Borrowers

This table provides the answer to the question:
Q21 How did you first learn about the Canada Small Business Financing Program?

Source of Info about CSBFP: CSBFP Borrowers
Source of info Percentage
CSBFP
borrowers
  • Base=126; those aware of CSBFP
  • DK/NR=4%
Bank Officer 41
Friend/colleague 22
Business service provider 8
Federal government website 4
Brochure/pamphlet 2
Bank/private website 2
CSBFP website 2
Previous CSBFP loan 2
Involved in programs 2
Media sources 2
Not sure/Can't recall 6
Other 4

Back to Figure 40

Figure 41 — Source of Info about CSBFP: SMEs

This table provides the answer to the question:
Q21 How did you first learn about the Canada Small Business Financing Program?

Source of Info about CSBFP: SMEs
Source of info Percentage
SMEs
  • Base=96; those aware of CSBFP
  • Not sure/Can't recall=8%
Friend/colleague 26
Brochure/pamphlet 25
Bank officer 9
Government Contract 7
Business associations 6
Media sources 5
Internet (general) 4
Involvement in programs 2
Business service provider 2
Other 4

Back to Figure 41

Figure 42 — Asked or Told about CSBFP by Lender: CSBFP Borrowers

This table provides the answer to the question:
Q22. When seeking financing, did you ask about the Canada Small Business Financing Program or did the lender identify the program for your consideration?

Asked or Told about CSBFP by Lender: CSBFP Borrowers
Source of info Percentage
CSBFP
borrowers
  • Base=126; those aware of CSBFP
  • DK/NR=1%
Lender identified CSBFP 52
Asked about CSBFP 22
Neither 17
Not sure/Can't recall 8

Back to Figure 42

Figure 43 — Asked or Told about CSBFP by Lender: SMEs

This table provides the answer to the question:
Q22: When seeking financing, did you ask about the Canada Small Business Financing Program or did the lender identify the program to you for your consideration?

Asked or Told about CSBFP by Lender: SMEs
Source of info Percentage
SMEs
  • Base=96; those aware of CSBFP
  • DK/NR=2%
Lender identified CSBFP 15
Asked about CSBFP 4
Neither 74
Not sure/Can't recall 5

Back to Figure 43

Figure 44 — Ever Obtained Loan Covered by Government Program: CSBFP Borrowers

This table provides the answer to the question:
Q23: Has your business ever obtained a loan covered by a government program, either federal or provincial, that guarantees the loans of small businesses and shares the risk with the financial institutions?

Ever Obtained Loan Covered by Government Program: CSBFP Borrowers
Obtained a loan Percentage
CSBFP
borrowers
  • Base=315; those who obtained financing
  • DK/NR=1%
Yes, federal 32
Yes, unsure of sponsor 18
Yes, provincial 10
No 32
Not sure/Can't recall 7

Back to Figure 44

Figure 45 — Ever Obtained Loan Covered by Government Program (over time): CSBFP Borrowers

Ever Obtained Loan Covered by Government Program (over time): CSBFP Borrowers
Obtained a loan Percentage
2007 2001
No 32 38
Yes, federal 32 27
Yes, unsure of sponsor 18 17
Yes, provincial 10 7
Yes, both 0 2
Not sure/Can't recall 7 9

Back to Figure 45

Figure 46 — Ever Obtained Loan Covered by Government Program: SMEs

This table provides the answer to the question:
Q23. Has your business ever obtained a loan covered by a government program, either federal or provincial, that guarantees the loans of small businesses and shares the risk with the financial institution?

Ever Obtained Loan Covered by Government Program: SMEs
Obtained a loan Percentage
SMEs
  • Base=58; those who obtained financing
No 74
Yes, federal 17
Yes, provincial 3
Yes, unsure of sponsor 3
Not sure/Can't recall 2

Back to Figure 46

Figure 47 — Ever Obtained Loan Covered by Government Program (over time): SMEs

Ever Obtained Loan Covered by Government Program (over time): SMEs
Obtained a loan Percentage
2007 2001
No 74 79
Yes, federal 17 9
Yes, provincial 3 5
Yes, unsure of sponsor 3 3

Back to Figure 47

Figure 48 — Ever Decided Not to Use Government Loan Program: CSBFP Borrowers

This table provides the answer to the question:
Q24. Has your business ever decided NOT to use a government-guaranteed loan program?
This could be under a program operated by either the federal or provincial level of government

Ever Decided Not to Use Government Loan Program: CSBFP Borrowers
Not Use Government Loan Program Percentage
CSBFP
borrowers
No 88
Yes, federal 4
Yes, unsure of sponsor 3
Yes, provincial 2
Not sure/Can't recall 2

Back to Figure 48

Figure 49 — Reasons for Refusing Government Guaranteed Loan: CSBFP Borrowers

This table provides the answer to the question:
Q25. Why is that [that your business decided not to use a government-guaranteed loan program?

Reasons for Refusing Government Guaranteed Loan: CSBFP Borrowers
Reasons for refusing government-guaranteed loan program Percentage
CSBFP
borrowers
  • Base= 42; those who decided not to use government loan program
  • DK/NR=2%
Too expensive 31
Too restrictive 21
Not necessary 21
Admin. Burden 12
Bank/lender's advice 2
Other financing 5
Other 5

Back to Figure 49

Figure 50 — Ever Decided Not to Use Government Loan Program: SMEs

This table provides the answer to the question:
Q24. Has your business ever decided NOT to use a government-guaranteed loan program?
This could be under a program operated by either the federal or provincial level of government.

Ever Decided Not to Use Government Loan Program: SMEs
Not use government-guaranteed loan program Percentage
SMEs
  • Base=503; those who obtained financing
  • DK/NR=1%
No 84
Yes, federal 4
Yes, provincial 2
Yes, unsure of sponsor 1
Yes, both 2
Not sure/Can't recall 6

Back to Figure 50

Figure 51 — Reasons for Refusing Government Guaranteed Loan: SMEs

This table provides the answer to the question:
Q25.Why is that [that your business decided NOT to use a government-guaranteed loan program?

Reasons for Refusing Government Guaranteed Loan: SMEs
Not use government guaranteed loan program Percentage
SMEs
  • Base = 43; those who decided not to use govt. loan program
  • DK/NR=2%
Too expensive 26
Too much 16
Not necessary 26
Too restrictive 21
Other financing 2
Other 2
Not sure/Can't recall 5

Back to Figure 51

Figure 52 — Importance of Various Factors Re: Financing Options: CSBFP Borrowers

This table provides the answer to the question:
Q26-33 How important are each of the following factors to your business when it comes to obtaining financing or considering financing options?

Importance of Various Factors Re: Financing Options: CSBFP Borrowers
Importance of factors for financing Percentage
5 Very important 4 3 2 1 Not important at all
  • Base=502
  • DK/NR=2% or less
Interest rate 72 17 8 1 1
Lender service quality 67 22 8 2 1
Financing granted vs.requested 63 25 8 1 0
Negotiating terms 58 28 9 2 1
Application process time 57 26 11 3 1
Securities/guarantees needed 49 30 16 2 2
Variety of options 50 28 15 3 1
Service fees 53 22 17 6 2

Back to Figure 52

Figure 53 — Importance of Various Factors Re: Financing Options: SMEs

This table provides the answer to the question:
Q26-33 How important are each of the following factors to your business when it comes to obtaining financing or considering other financing options?

Importance of Various Factors Re: Financing Options: SMEs
Importance of factors for financing Percentage
5 Very important 4 3 2 1 Not important at all
  • Base=503
  • NA=2-3% or less
  • DK/NR=3% or less
Interest rate 69 16 6 2 4
Negotiating terms 58 22 11 1 5
Lender service quality 56 22 12 2 4
Financing granted vs. requested 51 26 11 2 4
Service fees 51 23 13 3 6
Application process time 46 25 16 4 5
Securitie/guarantees needed 44 25 17 4 6
Variety of options 43 24 20 3 7

Back to Figure 53

Figure 54 — Satisfaction with Various Factors Re: Financing Options: CSBFP Borrowers

This table provides the answer to the question:
Q34-41. Thinking about the past five years and any times that your business may have applied for for or obtained financing, please tell me the extent to which you were satisfied with each of these same factors in terms of the financing options available.

Satisfaction with Various Factors Re: Financing Options: CSBFP Borrowers
Satisfaction with financing factors Percentage
5 Very satisfied 4 3 2 1 Very dissatisfied
  • Base=318
  • NA=3% or less
  • DK/NR=1% or less
Service fees 13 26 29 19 12
Interest rate 11 31 34 14 8
Variety of options 15 27 26 16 12
Negotiating terms 17 25 27 16 13
Securities/guarantees needed 19 29 31 11 8
Application process time 28 27 23 11 10
Lender service quality 43 30 18 4 4
Financing granted vs. requested 49 26 13 9 3

Back to Figure 54

Figure 55 — Satisfaction with Various Factors Re: Financing Options: SMEs

This table provides the answer to the question:
Q34-41. Thinking about the past five years and any times that your business may have applied for or obtained financing please tell me the extent to which you were satisfied with each of these same factors in terms of the financing options available.

Satisfaction with Various Factors Re: Financing Options: SMEs
Satisfaction with financing factors Percentage
5 Very satisfied 4 3 2 1 Very dissatisfied
  • Base=209
  • NA=5-10%
  • DK/NR=3% or less
Financing granted vs. requested 29 28 18 8 9
Application process time 20 33 20 7 11
Lender service quality 23 29 25 9 8
Interest rate 12 27 28 16 10
Negotiating terms 13 22 27 15 12
Variety of options 10 21 29 17 12
Securitie/guarantees needed 12 18 29 15 17
Service fees 10 19 26 20 18

Back to Figure 55

Figure 56 — Importance vs. Satisfaction: CSBFP Borrowers

This graph positions various loan factors into four quadrants based on their perceived importance and level of satisfaction to borrowers. The quadrants are separated by two axes. The vertical axis illustrates the level of importance with less important at the bottom and very important at the top while the horizontal axis illustrates the level of satisfaction with very satisfied on the far right and less satisfied on the far left. The factors "interest rate" and "negotiating terms" can be considered relative challenges as they are situated in the upper left quadrant which means that they have a low level of satisfaction but a high level of importance. The factors "service fees", "access to options" and "required securities" are situated on the border of the lower left quadrant and the upper left quadrant which means that they have a low level of satisfaction and a medium level of importance. They are classified as "other challenges". The factor "processing time" is situated at the intersection of the vertical and horizontal axis which means it has a medium level of satisfaction and of importance. The factors "service quality" and "financing granted" are situated in the upper right quadrant which means that they have a high level of satisfaction and importance, indicating they are relative strengths. There are no factors in the bottom right quadrant that stands for high level of importance and low level of satisfaction. This quadrant is classified as "other strengths".

Back to Figure 56

Figure 57 — Importance vs. Satisfaction: SMEs

This graph positions various loan factors into four quadrants based on their perceived level of importance and satisfaction to SMEs. The quadrants are seperated by two axes. The vertical axis illustrates the level of importance with less important at the bottom and very important at the top while the horizontal axis illustrates the level of satisfaction with very satisfied on the far right and less satisfied on the far left. The factors "negotiating terms" and "interest rate" are situated in the upper left quadrant which means that they have a low level of satisfaction and a high level of importance. They are classified as other challenges. The factors "service quality" and "financing granted" are situated on the border of the upper right quadrant and the lower right quadrant which means that they have a high level of satisfaction and a medium level of importance. They are classified between "relative strengths" and "other strengths". The factor "processing time" is situated in the lower right quadrant which means that it has a high level of satisfaction and a low level of importance. It is classified as a "other strength". The factors "required securities", "access to options" and "service fees" are situated in the lower left quadrant which means they have both a low level of satisfaction and importance. They are classified as "other challenges".

Back to Figure 57

Figure 58 — Satisfaction with Availability of Financing Options

This table provides the answer to the question:
Q42: Overall, how satisfied were you with the financing options available?

Satisfaction with Availability of Financing Options
Percentage
5 Very Satisfied 4 3 2 1 Very dissatisfied
  • CSBFP Borrowers (n=318)
  • SMEs (n=209)
  • DK/NR=3% or less
CSBFP Borrowers 18 37 28 11 5
SMEs 13 32 26 14 10

Back to Figure 58

Figure 59 — Satisfaction with Aspects of CSBFP Loan: CSBFP Borrowers

This table provides the answer to the question:
Q43-50. Thinking specifically about the CSBFP loan(s) your business received in the past 12 months, I'd like you to tell me how satisfied you were with each of the following aspects of the loan.

Satisfaction with Aspects of CSBFP Loan: CSBFP Borrowers
Percentage
5 Very satisfied 4 3 2 1 Very dissatisfied
  • Base=175; those who acknowledged use of CSBFP
  • NA=12% or less
  • DK/NR=5% or less
Annual admin. fee 8 23 26 19 8
Registration fees 10 27 26 18 13
Admin. reporting requirements 15 40 23 4 3
Availability of program info 20 35 21 13 7
Securities/ guarantees needed 17 41 24 10 5
Approval time 26 35 23 6 7
Other aspects of application process 19 45 23 6 4
Financing granted vs. requested 42 33 12 10 3

Back to Figure 59

Figure 60 — Likelihood of Using Same Lender Again

This table provides the answer to the question:
Q51. You mentioned that you received a term loan during the past 12 months. How likely is it that your business will use the same lender for other sources of financing in the future? Would you say it is…?

Likelihood of Using Same Lender Again
Percentage
Not at all likely Not very Moderately Very likely
  • SMEs (n=54)
  • CSBFP Borrowers (n=315)
  • Base=those who received loan in past year
  • DK/NR=1% or less
SMEs 6 11 19 65
CSBFP Borrowers 4 5 23 67

Back to Figure 60

Figure 61 — Perceptions of CSBFP Features: CSBFP Borrowers

This table provides the answer to the question:
Q54-57. I'd now like to ask you some questions about the Canada Small Business Financing Program. This is a federal government program, where any losses on loans made to businesses under the program are shared by the government with financial institutions. For each of the following features of the program, please tell whether you think the amount is too high, about right or too low. How about…?

Perceptions of CSBFP Features: CSBFP Borrowers
Percentage
Too high About right Too low
  • Base=502
  • DK/NR=1%
Max. loan = $250,000 4 66 28
Max. financing = 90% 5 83 11
2% registration fee 56 42 1
Prime + 3% interest cap 59 39 0

Back to Figure 61

Figure 62 — Perceptions of CSBFP Features: SMEs

This table provides the answer to the question:
Q54-57.I'd now like to ask you some questions about the Canada Small Business Financing Program. This is a federal government program, where any losses on loans made to businesses under the program are shared by the government with financial institutions. For each of the following features of the program, please tell whether you think the amount is too high, about right or too low. How about…?

Perceptions of CSBFP Features: SMEs
Percentage
Too high About right Too low
  • Base=503
  • DK/NR=3-4%
Max. loan = $250,000 8 68 20
Max. financing = 90% 11 79 6
2% registration fee 52 42 2
Prime + 3% interest cap 62 34 1

Back to Figure 62

Figure 63 — Perceptions of CSBFP Other Features: CSBFP Borrowers

This table provides the answer to the question:
Q58-60. I'm now going to identify a few more features of the program. As both a business representative and a taxpayer, please tell me how satisfied you are with each of the following whether or not you have used or might need to use the program in the future.

Perceptions of CSBFP Other Features: CSBFP Borrowers
Percentage
Very reasonable Somewhat Not very Not at all reasonable
  • Base=492
  • DK/NR=2-3%
Loan restrictions 41 41 12 3
Only term loans available 30 53 11 3
Government shares losses with lender 48 34 11 6

Back to Figure 63

Figure 64 — Perceptions of CSBFP Other Features: SMEs

This table provides the answer to the question:
Q58-60. I'm going to identify a few more features of the program. As both a business representative and a taxpayer, please tell me how satisfied you are with each of the following, whether or not you have used or might need to use the program in the future.

Perceptions of CSBFP Other Features: SMEs
Percentage
Very reasonable Somewhat Not very Not at all reasonable
  • Base=493
  • DK/NR=3%
Government shares losses with lender 39 27 20 12
Only term loans available 31 49 11 5
Loan restrictions 39 42 11 4

Back to Figure 64

Figure 65 — Overall Satisfaction with CSBFP Rules/Procedures: CSBFP Borrowers

This table provides the answer to the question:
Q61: Overall, how satisfied are you with the program's rules and procedures in terms of providing financing for small businesses?

Overall Satisfaction with CSBFP Rules/Procedures: CSBFP Borrowers
Percentage
Very satisfied 5 4 3 2 Very dissatisfied 1
  • Base=177, those aware they received the CSBFP loan
CSBFP Borrowers 25 42 25 3 3

Back to Figure 65

Figure 66 — Perceived Usefulness of CSBFP to Business

This table provides the answer to the question:
Q62: If you were having difficulty obtaining financing for your business, how useful do you think the CSBF Program would be to you?

Perceived Usefulness of CSBFP to Business
Percentage
Very useful 5 4 3 2 Not useful at all 1
  • CSBFP Borrowers (n=502)
  • SMEs (n=503)
  • DK/NR=3-5%
CSBFP Borrowers 57 23 12 2 4
SMEs 43 19 23 3 8

Back to Figure 66

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