Canada Small Business Financing Regulations

6 (1) Any loan referred to in paragraphs 5(1)(a) to (d) 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.

(2) The maximum loan term is 15 years for a loan referred to in paragraph 5(1)(a) and 10 years for a loan referred to in paragraph 5(1)(b) or (c), beginning on the day on which the first payment of principal and interest is due.