ATB Financials Solar Finance Program · • The Canada Small Business Financing Act program...

ATB Financial’s Solar Financing Program

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Ranice Macyk CSBFA Specialist ATB Financial

What ATB Offers

• Homeowners• Agricultural Clients

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• Small Businesses

• C o m m e r c i a l Businesses

The ATB Solar Panel Financing program has been developed to include options for:

Agriculture Financing• Loans up to $100,000• Amortization periods up to 15 years• Loan value up to 80%• Rate of Prime + 1.00% for solar panel

purchase and installation contracts greater than $25,000

• Rate of Prime + 2.00% for solar panel purchase and installation contracts less than $25,000

• Fixed rates also available

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Residential Financing

• Unsecured Linked Line of Credit as low as Prime + 2.00%; or

• Unsecured Variable Time Plan Personal Loan with amortizations of 5, 10, or 15 years as low as Prime + 2.00%

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• ATB’s Corporate and Commercial financing programs are customizable and follow different criteria based on each individual customer

• Financing under $500,000 typically falls under our Canadian Small Business Financing Program

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Business & Commercial Financing

Canadian Small Business Financing

Program (“CSBFA”)

What is the CSBFA Program?

• The Canada Small Business Financing Act program (“CSBFA”) was designed to help small business entrepreneurs obtain financing from Canadian lending institutions, by sharing the risk between the lender and the Government

• Established over 40 years ago, its main purpose is to increase the availability of financing for establishing, expanding and/or modernizing small businesses

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Who can apply?• Corporations • Sole Proprietors • Partnerships • Business must be carried on in Canada, with a place of

business in Canada, and assets held in Canada • Gross Annual Revenue must not exceed $10 million

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Canadian Small Business Financing Program

Non-Eligible Borrowers

• Non-Profit Organizations • Religious Organizations • Holding Companies • Trust (personal, private or social) Companies • Farming Businesses (exception: salt water or fish farming)

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What can be financed?• Equipment up to a max of $350,000 (solar panels)

• Leasehold Improvements (renovation costs) up to a max of $350,000

• Real Property and Improvements up to a max of $1,000,000

• All assets that are being financed must be used for the operation of the business.

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How Does This Pertain To Solar Financing?

• Financing up to $350,000*

• 90-100% LTV

• Rates: Prime + 2% or Fixed @ Residential Mortgage Rate + 2% (Prime rate is currently 3.45%)

• Amortization: up to 15 years* If additional funds are required, ATB could offer “hybrid” financing (conventional

lending + CBSFA) - to be looked at on a case-by-case basis

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Potential Roadblocks• Borrower must be incorporated in Alberta

• Strong income reporting on last years tax return

• Enough net worth to cover the 25% personal guarantee

• Credit standing of at least 650

• No collections of bankruptcy reporting on credit bureau

• Equipment must be in Canada in order to be financed

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Solar Vendor Program• ATB has created a streamlined process for Solar Vendors to help

their customers obtain financing

• Marketing resources are given to help vendors craft clear and consistent messaging to each audience across all social media platforms

• Participation is completely free of charge and the application is super easy!

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How is ATB supporting entrepreneurs in Alberta ?

• ATB X • ATB LendR • ATB BoostR • CSBFA Program

• Social Entrepreneurship

• Branch for the Arts • Entrepreneurship

Centers

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Contact Information

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Email: rmacyk@atb.com OR solarforbusiness@atb.com

Phone: 780-392-9277

CSBFA Program: www.csbf.com/ATB

Solar Program: https://www.atb.com/learn/articles/pages/article.aspx?aid=624

Thank You!!

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