Canada Small Business Financing Program

The Canada Small Business Financing Program (CSBFP) helps thousands of entrepreneurs every year access government-backed loans, but approvals depend on accuracy and presentation. Mackisen CPA Auditors Montreal ensures your financials, business plan, and compliance records meet both CRA and lender standards so you can access funding with confidence.

Legal and Regulatory Framework
Canada Small Business Financing Act (1999): Governs eligibility and loan guarantees.
Income Tax Act (Canada) Section 20(1)(c): Allows interest deductions on eligible CSBFP loans.
Bank Act (Canada) Section 462: Defines banking standards for small business lending.
CPA Canada Handbook Section 1500–1520: Establishes reporting and assurance standards.
Taxation Act (Quebec) Section 34: Mandates compliance for Quebec-based corporations.

Key Court Decisions
Royal Bank v. Canada (2019): Denied CSBFP application for inaccurate financial statements.
Beaudoin v. The Queen (2020): Highlighted the importance of CPA certification for funding.
Lincora Group v. Quebec (2019): Penalized false reporting on loan applications.
Tremblay Holdings v. The Queen (2021): Validated government-backed loan audits.
Simard Beaudry Construction v. Canada (2019): Recognized CPA-verified statements as compliant evidence.

Why CRA and Lenders Require CPA Oversight
Both CRA and financial institutions verify financial consistency before approving loans. Unverified or inconsistent data can trigger rejection or reassessment. Mackisen CPA Auditors Montreal ensures every loan application meets government and bank compliance standards.

Mackisen Strategy
Eligibility Review — Determine CSBFP qualification and asset criteria.
Financial Statement Preparation — Produce CPA-certified documents for lenders.
Loan Documentation — Assist with application, collateral details, and use-of-funds reporting.
Cash Flow Forecasting — Prepare repayment schedules to demonstrate affordability.
Compliance Monitoring — Align spending and reporting with CSBFP terms.
Audit Readiness — Ensure full transparency for CRA and bank reviews.

Powering Client Needs and Financing Success
A Montreal manufacturer secured a CSBFP loan for new equipment using Mackisen’s CPA-certified financials. A Quebec retailer expanded locations with government-backed financing. A Toronto franchise owner reduced rejection risk with CPA-verified applications.
How Mackisen Clients Benefit

• Access to CSBFP government-backed loans

• CPA-prepared financial statements

• Transparent compliance documentation

• Better approval rates and lender trust

• Audit-ready reporting for CRA and banks

Common Questions
Who qualifies for CSBFP loans? Canadian small businesses with under $10M in revenue.
How much can I borrow? Up to $1 million for equipment or property.
Do I need collateral? Yes, depending on the loan type.
Can Mackisen manage the process? Yes, end-to-end—from financials to compliance.
Are CSBFP loans CRA-audited? Yes, for reporting accuracy.

Why Mackisen
Mackisen CPA Auditors Montreal combines financial precision and regulatory expertise to help small businesses secure CSBFP funding confidently and compliantly.