Business financing via CSBFP terms

*Start up, *Expansion, *Purchase existing business, *Purchase partnership.

Loan Terms For Example Start-up Business:

1. Up to 100% financing of hard costs (renovation, equipment, custom software / website).
2. Soft Costs to be shown by owner: business break even budget for minimum of 3
3. Up to 85% government guarantee (personal guarantee min 15%)
4. Prime + 3% interest rate (exception plus 2% or 1%)
5. Up to 15 years amortization
6. Up To $1,000,000 max per loan per Corporation
7. Principle payments first year can be deferred 6-12 months
8. The loan is unsecured (no personal collateral, no credit bureau filing) and fully open
9. One person can qualify for multiple loans
10. Professional Business Plan is required
11. Loan is available for use up to 12 months after approval date, paid against invoices
12. Payments are refundable if under 180 days prior to funding
13. Business banking must be done with the loan issuing bank

BANKS WE WORK WITH

Qualification requirements:

1. PR/Citizen legal status in Canada
2. Credit History beacon score 650 or better (Equifax / com)
3. Last 2 years NOA average income 2 times larger than expenses (taxes paid fully)
4. Personal Equity 30% liquid, 30% non liquid (or 60% liquid) from asking amount

*Liquid: Cash in checking, HELC, GIC, TFSA, Gift, Stocks, Prepaid invoices other savings

*Non Liquid: Real Estate market value * 80% – mortgage balance

CONTACT US FOR CONSULTATION 

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