Incrementality study of the Canada Small Business Financing Program / Innovation, Science and Economic Development Canada, Small Business Branch, Research and Analysis, Patrice Rivard.: Iu188-130/2018E-PDF

“The Canada Small Business Financing Program (CSBFP) is a statutory loan loss-sharing program administered by Innovation, Science and Economic Development Canada (ISED) that helps Canadian small businesses obtain access to financing. Under the CSBFP, ISED and commercial lenders share the risk of providing small businesses with term loans for real property, equipment or leasehold improvements. The primary objective of the CSBFP is to increase financing for small businesses by extending financing that would not otherwise be available (full incrementality) or would be available under less favourable terms (partial incrementality). This paper investigates the level of full incrementality of the CSBFP by analyzing data from the Survey on Financing and Growth of Small and Medium Enterprises, 2014. The main finding of the paper is that the CSBFP is 69 percent fully incremental. In other words, 69 percent of debt financing requests from small businesses would have been denied without the existence of the CSBFP, which is consistent with previous studies”--Executive summary, p. ii.

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