Right now the minister issues a licence each year. There's no legal status in that licence beyond one year. The practice has been to reissue, of course, but legally that licence only lasts for a year.
If you're a lending institution, you're being asked to lend somebody money on an asset that only lasts a year, and is issued at the absolute discretion of the minister. There's nothing in law that says the minister has to reissue that licence. Therefore, lending institutions have some nervousness about that kind of process.
What we have in Bill C-32, and had in Bill C-45, was to provide more duration in law to the licence, which in many cases is the biggest asset in the enterprise, and provide it with a legal status where it lasts for enough time to allow the debts to be amortized over that period of time.