Yes, there is. We have prime plus 3% on the variable loans. It's the residential mortgage rate plus 3% on the fixed-rate loans.
Out of that prime plus 3%, 1.25% is paid to us. Their cut of this is thus only 1.75% over and above prime.
On May 17th, 2021. See this statement in context.
May 17th, 2021 / 3:20 p.m.
Manager, Policy, Canada Small Business Financing Program, Department of Industry
Yes, there is. We have prime plus 3% on the variable loans. It's the residential mortgage rate plus 3% on the fixed-rate loans.
Out of that prime plus 3%, 1.25% is paid to us. Their cut of this is thus only 1.75% over and above prime.
See context to find out what was said next.