Finance committee  For real property lending, you can get loans for up to a million dollars. For equipment and leasehold improvements, it's currently $350,000, but as Frances mentioned, we're hoping to move that up to $500,000 because those amounts haven't changed over the last number of years. In

Finance committee  Exactly. One of our conditions is basically that. They have to do the same due diligence under the conventional lending as they do for loans under this program.

Finance committee  Yes, this program is designed to increase access to financing for small business owners who would not otherwise be able to get this sort of financing. A lot of these small businesses are modernizing. We're in a bit of a digital economy. It is a knowledge-based economy, and a lot

Finance committee  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.

Finance committee  Yes, so of the prime plus 3% we take 1.25%. It's meant to help offset the cost of claims.

Finance committee  I would say the majority of them, to a large extent. In the last couple of years we've done $1.3 billion in financing. This past year, given that you have CEBA, you have HASCAP, you have BCAP—these other business support programs that have been out there—we've dropped the number

Finance committee  There are provisions that they're not allowed to pass them on to the borrower other than through the interest rate. They're allowed to charge prime plus 3% and that's it, of which 1.25% of that prime plus 3% comes back to the program.

Finance committee  It's pretty close, yes. It's prime plus 2.75% or prime plus 3%. It's primarily because they're a riskier clientele as well.

Finance committee  Yes.

Finance committee  Yes, that's correct.

Finance committee  On your first question, the three primary asset classes under the program are real property, equipment and leasehold improvements. On the second question about the percentage, about 20% goes to real property, 50% goes to leasehold improvements and about 25% to 30% goes to equip

Finance committee  If they're registering the real property under a program, they have to take first rank in security on that asset.

Finance committee  I don't have that figure readily available, Peter. I do know that the vast majority of these loans get paid down and that the average claim sizes coming in are in the order of about $50,000 to $60,000 on the claims. The loans, on average, are about $250,000 to $300,000, so it's p

Finance committee  That's exactly right. It's designed specifically to facilitate access to financing that would otherwise be unavailable from the financial institutions. If they were a good prospect, etc., we would imagine that they would be financed through conventional sorts of purposes. It's on

Finance committee  The parameters wouldn't necessarily be established on that, but I will tell you that a riskier loan would be one where the small business is a start-up. It doesn't have any collateral. It doesn't have any credit history. With it being a start-up with very little money to put into