I have been exchanging with the office of the person who was my MP when I lived in Canada about expanding the SMB federally-guaranteed loan program to line up with the US's SBA 7(a) terms. The Library of Parliament's representative stated that, for a federal project/program to be created, one must submit a proposal for a pilot project and a request to thereafter create a law for it to be adopted and implemented.
Currently, there are programs that cover limited funding options through the big 5 banks and BDC offers some financing to SMB acquisitions as well. Moreover, for Quebec-based businesses, Investissement Quebec offers up to 65% LTV on small acquisitions in specific cases.
I would like to know if there are members who would find it interesting to submit the pilot project request to the government of Canada so if we can expand searcher opportunities for Canadians and Canada-based businesses looking for an exit.
Feel free to reach out, even if it is to tell me how bad of an idea it is!
EDIT: to anyone who is interested in being kept up to date or participating in the process, please DM me your email and I will email you all once I have the lay of the land. Also, the new government has named a new minister for SMB, so this may be a good time to create the petition.