According to the Canadian Bankers Association, Canadian banks serve more than three million self-employed, small and medium-sized enterprises (SMEs) across Canada and authorized more than $254.6 billion in credit to these customers as of December 2019. Canada’s franchise community is being tested once again with economic turmoil brought on by the COVID-19 pandemic.

Unlike the 2007-2009 global financial crisis, Canada’s financial system is very strong and well-positioned to support Canadian franchising and franchised businesses. In response to these conditions, Canadian financial institutions are working directly with individual and small business customers to create tailored support plans to help them manage the financial turmoil, overcome financial challenges, and build bridges to a stronger future.

Attend this session to learn how COVID-19 has impacted how Canadian banks are looking at business loans and what additional information they need. What programs and services have banks introduced to serve SMEs and how can they be accessed? What is the impact of the pandemic on a bank's risk tolerances? Have banks changed how they will lend and for what they will lend? Are loan losses as government support programs taper off expected to tighten loan approval requirements? How do I take advantage of changes in the marketplace? How do I grow my franchise?

Understand how the economic and financial impacts of COVID-19 has impacted the business loan application process and how their programs work today for you, your franchisees, and your franchisee candidates.