The federal government and Canada’s big banks have announced a $500-million fund aimed at helping small- and medium-sized businesses access capital. Canada's biggest banks and other financial institutions have launched a fund of up to $1 billion over 10 years to help small- and medium-sized companies access capital to grow their businesses. If demand from the businesses is strong and the fund's performance is good, it could be increased to a total of $1 billion over the next nine years. RBC's CEO David McKay said small businesses face challenges accessing the cash they need to expand their operations — for example to hire new staff, purchase new equipment or facilities, or acquire another company. “So we do have a challenge raising capital for growth in our economy.”

Source: thestar March 09, 2017 18:22 UTC