Canada Small Business Financing Regulations

8 In making and administering a loan, the lender must apply the same procedures as those that would be applied in respect of a conventional loan in the same amount, including, before making the loan,

• (a) obtaining credit references or conducting a credit check on the borrower and any persons who are legally or financially responsible for the borrower; and

• (b) completing an assessment of the repayment ability of the borrower, taking into account all other financial obligations of the borrower.