The Canada Small Business Financing Program seeks to increase the availability of loans and capital leases for the establishment, expansion, modernization and improvement of small businesses. It does so by encouraging financial institutions and leasing companies to make their financing available to small businesses. Under the Program, a small business must apply for a loan or a lease at a financial institution (bank, credit union or caisse populaire) or at one of the participating leasing companies. If the financial institution or leasing company grants the loan or the lease, the federal government reimburses 85 per cent of the lender's or lessor’s losses in the event of default.

What’s available online for clients?

Information services:

Information about the program (e.g. frequently asked questions, bulletins);

Information on the Canada Small Business Financing Act and regulations;

“How-to” guide (a self-learning tool for lenders);

Practical tools (links to the Interactive Business Planner and the Lease or Buy Calculator offered by other program areas); and

Downloadable forms for loan registration, reporting, and claims processing.

Clients and benefits of online service

Clients:

Participating financial institutions;
Credit unions;
Caisses populaires; and
Small businesses (with revenues below $5 million per year).

Benefits:

Useful information;
Ability to download required forms in different file formats; and
Immediate feedback on forms submitted.

Our journey to success

In early 2005, the newly restructured Canada Small Business Financing Program website was launched with a strong focus on easier accessibility and improved quality of information for small business, lenders and lessors.

A number of information tools, such as the program publications, studies, Q&A, guidelines, bulletins and forms, were added to the website to allow small business entrepreneurs the ease of navigation and to help lenders and lessors in the program delivery.

The registration and claims forms were simplified to allow lenders and lessors to complete the data and print the forms directly from the website.

The new site also included a Quick Feedback Survey that was completed by well over 2000 visitors. Analysis of the input revealed that the satisfaction rate is over 90 percent. As well, some interesting suggestions have been submitted to further improve the site.

The site has also become one of the main communication vehicles used by stakeholders to ask questions, provide comments and request supplemental information.

The CSBFP website is the most popular and most visited site at Industry Canada. In 2005, it received more than 100 000 visits.