First time in 15 years Canada Small Business Financing Program has
OTTAWA, Jan. 27 /CNW/ - PwC Canada tax specialists commented today:
Access to $200 billion of additional financing is now going to become
available through an Extraordinary Financing Framework to improve the access
to financing and to strengthen the financial system - a much needed addition
to the borrowing capacity of Canadians and Canadian businesses to manage
through the downturn.
Certain measures under the Extraordinary Financing Framework include:
- An additional $50 billion for the Insured Mortgage Purchase Program,
increasing its size to $125 billion.
- $13 billion to increase the lending of Crown corporations, of which
$5 billion will be delivered through the new Business Credit
- $12 billion for a Canadian Secured Credit Facility to support
financing of vehicles and equipment.
- An increase in the loan limit for small businesses under the Canada
Small Business Financing Program. The current limit, which has not
changed in the past 15 years, will be raised from $250,000 to
$350,000 and to $500,000 for loans made for acquiring real property.
A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
firstname.lastname@example.org, 416-814-5730 or visit www.pwc.com/ca/budget.
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For further information:
For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, email@example.com