Canada Small Business Financing Regulations (SOR/99-141)
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Regulations are current to 2024-03-06 and last amended on 2022-07-04. Previous Versions
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.
- SOR/2009-102, s. 8
- SOR/2014-7, s. 6(F)
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