Clause 208 basically deals with maximum loan size. This clause amends subsection 7(1) of the Canada Small Business Financing Act to increase the maximum loan size to $1.15 million and to allow for the line of credit facility. It sets the maximum amounts to be prescribed for different loan products—that is, $1 million for term loans and up to $150,000 for lines of credit—and maximum loan amounts for loan classes.
On June 1st, 2021. See this statement in context.