Thinking of opening a restaurant in Ontario? Whether it’s a quick-service sandwich shop in Toronto or a fine dining concept in Ottawa, one thing is universal: you’ll need funding to get off the ground. The good news is the Canada Small Business Financing Program (CSBFP) can help you secure up to $1 million to finance your dream. But the process isn’t automatic — and that’s where this guide comes in.
Step 1: Understand the CSBFP
The CSBFP is a federal government-backed loan program offered through participating banks and credit unions. It’s designed to help small businesses like restaurants get access to capital with lower risk to lenders.
You can use CSBFP loans for:
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Restaurant equipment (like flat-tops, ovens, or fridges)
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Leasehold improvements (like renovations or build-outs)
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Working capital (in some cases, if combined with equipment or leaseholds)
Step 2: Secure a Lease or Location
You’ll need to have a location secured before you can apply. That means either a signed lease or a conditional offer. If you’re still searching for space, we can refer you to trusted restaurant real estate agents across Ontario.
Step 3: Build Your Business Plan
Banks want to see more than just passion. They need numbers. We’ll help you create:
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A professionally written business plan (20–30 pages)
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3-year financial projections with assumptions
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A clear use-of-funds statement
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Market research and competitive analysis
This is where most restaurant owners struggle. We do it for you — fast, accurately, and lender-ready.
Step 4: Apply Through a Lender
Once your business plan is ready, you’ll submit it to a participating lender like BMO, RBC, or a credit union. We handle the application package, answer lender questions, and advocate on your behalf.
Step 5: Get Funded
Loan approvals typically take 3-6 weeks, depending on the lender. Once approved, the funds are disbursed and you’re ready to move forward with your buildout, purchase equipment, or cover startup costs.
Final Thoughts
We’ve helped restaurant owners across Toronto, Mississauga, Hamilton, Vancouver and beyond navigate the CSBFP loan process with confidence. If you’re in Ontario and want funding without the stress, let’s talk.
