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Northwest Territories - Apply for Canada Small Business Financing Program

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ProcedureEdit

Apply In-Person:

  1. To apply for Canada Small Business Financing Program in person, the applicant has to first get a loan from any of the participating lenders.
  2. With respect to the applicant’s location, he/she can find a lending institution with the help of the following bank, caisse populaire or credit union link
  3. Visit the link and enter the respective location in the field provided. List of relevant suggestions will appear below.
  4. Select one among them to get the location of the lending institutions around that particular location (use the legends below to identify the location in the map).
  5. Otherwise, the applicant can visit the following link and select a lender’s contact link (of his/her choice) from the list of lending institutions present there: contact links
  6. The applicant has to contact the lender by any applicable means and discuss his/her business needs with the financial officer in the institution.
  7. The financial officer will review the business proposal and make a decision on the loan application. Once the decision is made to provide financing, the financial institution will disburse the funds.
  8. After the first disbursement, the lender should visit the Innovation, Science and Economic Development Canada office and obtain a Loan Registration Form.
  9. The address and contact details can be found in the following contact link
  10. The applicant can also download the form by clicking the following application form link
  11. The applicant has to complete the form with the names of the guarantor(s) and/or the names of the shareholder(s) for a corporate borrower.
  12. In the case of a co-operative with share capital, the names of the shareholders must be listed. If the co-operative is without share capital, the names of the board of directors and members must be listed.
  13. After completing, the Loan Registration form must be signed by an authorized representative of the lender and by the borrower.
  14. The application must consist of the information listed in the “Required Documents” section of this page and the lender's cheque (a borrower's cheque is not accepted) for the registration fee, payable to the Receiver General for Canada.
  15. Then, the application has to be submitted to the relevant official at the Innovation, Science and Economic Development Canada office.
  16. Upon submission of the application, necessary verifications of the submitted information will be done by respective officials.
  17. Once all the necessary processes are over, the applicant’s CSBF loan will get registered with the Innovation, Science and Economic Development Canada.


Apply Online (Electronic Loan Registration)
Note: This is only for lenders.
Using GC Key

  1. To apply for Canada Small Business Financing Program online using GC Key, the applicant has to first make sure that the User Administrator in his/her financial institution has set up a CSBFP/CALA Online Loan Registration Application account for the applicant.
  2. If yes, the applicant would have received an account creation invitation in his/her email inbox. The email will also contain a PIN which will be required when the applicant is about to activate his/her “My ISED account”.
  3. The applicant has to click the "sign up for your GCKey secure login provider" link available in the mail to login and activate his/her account.
  4. In the "Choose your secure login provider" page, the applicant has to choose the “GCKey” option. Click the “Sign Up” button present under the ‘Simple Secure Access’ topic.
  5. Click “I accept” button in the Terms and Conditions of Use page. Then, the applicant has to create a Username by entering a name (of his/her choice) in the field provided and click “Continue” button.
  6. Create a Password in the next page (as applicable) and click “Continue” button. Then, create the Recovery questions, answers and hints in the next page.
  7. GC Key Creation completion message will be displayed in the next page, click “Continue” button to confirm the User Profile for the CALA/CSBFP Online Loan Registration Application.
  8. Next section is the applicant’s account activation section. The applicant has to copy the PIN that is present in the mail from the User Administrator and enter it in the ‘Your PIN’ field.
  9. Then, he/she has to click “Continue” button. The applicant will be then prompted to complete his/her ISED Account by providing some details.
  10. The email address cannot be modified but the applicant should his/her first, family name and mobile number.
  11. This will complete the steps in creating the account in the CSBFP/CALA Online Loan Registration Application. The applicant will automatically be directed to the application in which he/she has to click “Create registration” link.
  12. New application for the loan registration will be opened which the applicant has to complete by following the onscreen instructions.
  13. The applicant has to complete the registration form with the names of the guarantor(s) and/or the names of the shareholder(s) for a corporate borrower.
  14. In the case of a co-operative with share capital, the names of the shareholders must be listed. If the co-operative is without share capital, the names of the board of directors and members must be listed.
  15. After completing, the applicant will have to pay the fees for the loan registration by following the onscreen instructions electronically.
  16. Submit the application by clicking the applicable button once the registration fee is paid. Upon submission of the application, necessary verifications of the submitted information will be done by respective officials.
  17. Once all the necessary processes are over, the applicant’s CSBF loan will get registered with the Innovation, Science and Economic Development Canada.


Using Sign-In Partner

  1. To apply for Canada Small Business Financing Program online, the applicant has to visit the following apply online link
  2. List of financial Sign-In Partners will be displayed in the next page, from which the applicant has to select one in which he/she has subscribed online banking.
  3. Respective online banking portal will be opened, login into it using the user credentials.
  4. After logging in, there will be two options to help in verifying the applicant’s identity. Select an applicable option.
  5. Once verified the identity, the applicant should create their Innovation, Science and Economic Development profile.
  6. Follow the onscreen instructions and complete the account creation. Proceed to sign in using the Username and Password.
  7. After signing in, locate the applicable option to apply for new loan registration and make a click on it. Proceed to complete the application form with required details and information.
  8. The applicant has to complete the registration form with the names of the guarantor(s) and/or the names of the shareholder(s) for a corporate borrower.
  9. In the case of a co-operative with share capital, the names of the shareholders must be listed. If the co-operative is without share capital, the names of the board of directors and members must be listed.
  10. After completing, the applicant will have to pay the fees for the loan registration by following the onscreen instructions electronically.
  11. Submit the application by clicking the applicable button once the registration fee is paid. Upon submission of the application, necessary verifications of the submitted information will be done by respective officials.
  12. Once all the necessary processes are over, the applicant’s CSBF loan will get registered with the Innovation, Science and Economic Development Canada.



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Required DocumentsEdit

  • Social Insurance Card
  • Names of the Guarantor(s)
  • Names of the Shareholder(s)
  • Names of the Board Directors and members
  • Identification documents of Lender and Borrower
    • Passport
    • Canadian Citizenship card
    • Permanent Resident card
    • Provincial or territorial driving license
    • Provincial or territorial health card
    • Provincial or territorial Government Identification card
    • Certificate of Birth
  • Loan documents
  • Documents related to the Borrower’s business
  • Borrower’s income documents (payslips, salary bills, etc.,)



Office Locations & ContactsEdit

Canada Small Business Financing Program,
c/o Innovation, Science and Economic Development Canada,
235, Queen Street,
Ottawa, Ontario,
K1A 0H5
Toll free info line: 1-866‑959‑1699
Fax: 1‑343‑291‑1837
E-mail: [email protected]
Website link
Contact link

EligibilityEdit

  • The applicant must be carrying on the small business with a place of business and assets held in Canada, for the purpose of operating the business.
  • The small business must offer its services or products to the public (includes retail and wholesale).
  • The preponderant purpose of the business should be for the profit or material gain and not some other overarching purpose to which profit is merely incidental.
  • Refer the ‘Eligible Small Business’ section in the following link for more details eligibility



FeesEdit

  • The registration fee is 2% of the total amount of the CSBF loan for real property or immovables, leasehold improvements and equipment.
  • The lender's cheque (a borrower's cheque is not accepted) for the registration fee, payable to the Receiver General for Canada, must accompany the Loan Registration form.
  • If the SBF Directorate has approved the lender enabling it to register loans electronically, the lender may submit and pay the registration fee electronically.



ValidityEdit

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever



Documents to UseEdit



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

Please explain processing time taken in obtaining the document/certificate.



Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&>
from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.



InstructionsEdit

  • Up to a maximum of $1,000,000 for any one borrower, of which no more than $350,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment.
  • Interest rates are determined by your financial institution and may be variable or fixed. If they are variable, the maximum chargeable is the lender's prime lending rate plus 3%.
  • If the rates are fixed, the maximum chargeable is the lender's single family residential mortgage rate for the term of the loan plus 3%.
  • A registration fee of 2% of the total amount loaned under the program must also be paid by the borrower to the lender. It can be financed as part of the loan.
  • Visit for more relevant instructions



Required InformationEdit

  • Name of the lender
  • CPA Transit number
  • Lender’s loan number
  • Postal code
  • Name and operating address of the borrower
  • Telephone number and Postal code
  • Business’ operating name and number
  • Type of borrower
  • Estimated annual gross revenue
  • Number of operating years
  • Name of Franchise
  • Main activity of the business
  • Number of current full-time equivalent employees
  • Number of additional persons to be employed
  • Details of the loan



Need for the DocumentEdit

The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.


Information which might helpEdit

  • If the failure to register a loan within 3 months from the date of first loan disbursement is inadvertent, the lender needs to explain the error and request a deadline extension. In such a situation, the 3-month registration period will be extended to 6 months.
  • Lenders who delay registration until after the final disbursement will not receive an extension for this reason, since the late registration will not be considered inadvertent.
  • For more information



Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External LinksEdit

Making a loan
Complete guidelines
Link user guide for online loan registration, PDF Version


OthersEdit

More information which might help people.



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