The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.
The enhanced program provides lenders and small businesses with additional financing products, new class of loans, increased loan amounts and terms, improved loan conditions and decreased administrative burden.
The Canada Digital Adoption Program (CDAP), by Innovation Science and Economic Development Canada (ISED), helps small and medium-sized enterprises (SMEs) adopt digital technologies. Businesses with a signed grant agreement to CDAP’s Boost Your Business Technology stream prior to February 19, 2024 may be eligible to receive a grant to build their digital plan, followed by a 0% loan of up to $100,0001 to implement it.
Racialized and Indigenous Supports for Entrepreneurs (RAISE) is a grant program (2024-25) that will provide access to business development training, culturally responsive and tailored business coaching, networking opportunities, and a one-time grant of $10,000 to support Indigenous, Black and other racialized entrepreneurs.
Canada’s regional development agencies (RDAs) are delivering $200 million through the Regional Artificial Intelligence Initiative (RAII) to help bring new AI technologies to market and speed up AI adoption in sectors across the country.