If you're looking for small business financing right now it doesn't really matter if we're technically in a recession or just maybe headed for one. The fact you have to deal with right now is that money is tight and that it's getting increasingly difficult to get small business loans.

As part of an SME Financing Study done by Industry Canada, a survey found that getting access to small business funding has been increasingly difficult since the mid-nineties and that traditional small business loan suppliers (such as banks) are becoming ever more conservative in their evaluations of prospective small business loan customers. Start up businesses are, as always, having the hardest time finding the small business financing they need.

What can you do to increase your chances of getting the small business loan you want? Focus on your business plan.

"For banks to realistically consider your funding proposal," says Yomin Postelnik in "How to Obtain Business Funding During Pressing Economic Times", it is very important that you present your plan as if they were a prospective business partner... The business plan should be detailed and crisp in format and answer all questions that a potential partner or investor would seek to ask. "

Learn more about how to meet a lender's expectations and increase your chances of securing the small business financing you need in How to Get a Small Business Loan.

More Information on Getting Small Business Loans in Canada

• The Canada Small Business Financing Program
• Where to Get a Small Business Loan When the Banks Turn You Down
• Small Business Loans for Women in Canada: For Women Only