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CSBFP program and borrowing-cost guide · CSBFP in Numbers
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All amounts are in CAD.
Formula and assumptions
Term payment uses M = P × r ÷ [1 − (1 + r)^(−n)], with r = (prime + 3) ÷ 100 ÷ 12 and n = years × 12; at zero interest, M = P ÷ n. Registration fee = 2% × each entered advance / authorized LOC amount. When financed, add that fee to its facility balance. LOC monthly interest = LOC balance × (prime + 5) ÷ 100 ÷ 12. Total interest = term payments − financed term balance + LOC interest over n months. Total cost = original advances + registration fees + total interest.
Term and LOC limits are CAD $1 million and $150,000, with a combined $1.15 million ceiling. Financed fees count within those limits. Category sub-limits and existing borrowing still need lender review. Spreads are applied once, with no extra annual administration fee added. This is a constant-rate scenario, not a quote or eligibility check. The LOC is assumed fully drawn and interest-only over the chosen period; its principal remains payable at the end. Total cost includes repayment of that principal. Unfinanced registration fees are paid upfront. Other fees and taxes are excluded.
Worked example — illustrative only
Illustrative fee example from the program guide: an $80,000 term advance has a $1,600 registration fee. Paying it separately leaves $80,000 to amortize; financing it makes the term balance $81,600. Enter a prime rate above to calculate payments. The selected repayment period is an example assumption, not a program limit.
Frequently asked questions
Where do the program figures come from?
The linked CSBFP program guide states a $1.15 million combined ceiling, $1 million term ceiling, $150,000 LOC ceiling, prime + 3% floating term cap, prime + 5% LOC cap and a financeable 2% registration fee. Financed fees remain within the ceilings.
Why is prime blank?
The permitted program guide states no numeric prime rate. Enter the rate quoted by your lender; the calculator applies the published floating-rate spreads.
Is the LOC payment a repayment schedule?
No. It is estimated monthly interest on a constant fully drawn balance. LOC principal is still outstanding at the end. Actual draws, repayments and lender terms will change costs.
Does being below the maximum mean I qualify?
No. The lender must confirm eligibility, cost-category limits, existing borrowing and approval. This calculator checks only the overall entered facility limits.