U3A3: Assignment: Small Business Loans

1. Answer the following questions related to small business loans and then submit your answers to your teacher.

Go to Government of Canada's Small Business website

thehttps://ised-isde.canada.ca/site/canada-small-business-financing-program/en

And read through theinformation on this pamphlet.

https://ised-isde.canada.ca/site/canada-small-business-financing program/sites/default/files/attachments/Brochure_CSBFP_EN.pdf.

You can also read through atranscript

https://ised-isde.canada.ca/site/canada-small-business-financing-program/en/eligibility-video-transcript-csbfpof the video on eligibility.

2. Answer the following questions:

• Of the start-up expenses that Jeff needs money for, which ones can he get a small business loan for? (Look under "What can be financed")

• Of the start-up expenses that he needs money for, which ones do not qualify for a small business loan? (What is not able to be financed from his list?)

3. Go to theRBC Royal Bank website

https://www.rbcroyalbank.com/business/loans/short-term-operating-loans.html

Andfind the minimum amount of money that Jeff can borrow from that bank if he gets a small business loan (under Royal Business Operating Line)?

4. Why do you think that the Government of Canada, through the Canada Small Business Financing Program at Industry Canada, helps to finance the start-up costs of a small business?

5. Share your opinion: Do you think the government should help new small businesses get started? Give two reasons for your answer.

6. This question is in some ways related to Question 4. Why do you think the Government of Canada, through Statistics Canada, collects and analyzes data and publishes statistics about the probability that a new small business will be successful?