Audit report, Canada Small Business Financing Program / Audit and Evaluation Branch. : Iu4-178/2013E-PDF

"In accordance with the approved Industry Canada 2012-2015 Multi-Year Risk-Based Audit Plan, the Audit and Evaluation Branch (AEB) undertook an audit of the Canada Small Business Financing Program. The purpose of the Program is to help small businesses obtain access to financing that would not otherwise be available or would only be available under less favourable terms. The Program partners with private sector lenders (financial institutions) across the country who make their financing available to small businesses that are eligible under the Program. By doing so, Industry Canada (IC) shares the risk of loan losses and thus is able to increase access to financing extended to small businesses. The statutory Program operates under the Canada Small Business Financing Act and Canada Small Business Financing Regulations, and was designed to increase the availability of financing for the establishment, expansion, modernization and improvement of small businesses. The Program is delivered within the Small Business, Tourism and Marketplace Services Sector, and its activities are directly linked to IC’s Strategic Outcome that Canadian businesses and communities are competitive. Specifically, the Small Business Financing Directorate (within the Small Business Branch) is responsible for designing and administering the Program under the provisions of the Act and its Regulations”--p. 5.

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