Canada Small Business Financing Regulations

6 A loan, other than a loan made under section 30, is subject to the following conditions:

• (a) it may not be made to finance an expenditure or commitment that arose more than 180 days before the day on which the loan is approved or that was previously financed by a term loan; and

• (b) the loan term may not be longer than a period of 10 years beginning on the date on which the first principal payment is due.