30
Jul
SME Financing Still a Challenge in Canada
Access to financing continues to be one of the biggest hurdles for Canadian small and medium-sized enterprises (SMEs). According to a recent federal report, smaller and newer businesses are more likely to face loan rejections due to limited credit history, lack of collateral, or unclear financial plans. Although 87% of debt applications are approved, the remaining 13% typically fail for preventable reasons. The report highlights the importance of sound business planning and accurate financial forecasting as key factors in securing funding.