Competition Bureau seeks input for small- and medium-sized business lending review
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GATINEAU – The Competition Bureau is seeking input from Canadians as it prepares to begin its review of competition in lending for small- and medium-sized businesses.
The regulator is giving Canadians a chance to comment on the proposed terms of reference for the market study by Oct. 3.
Commissioner Matthew Boswell says increasing competition in the financing sector would help give small- and medium-sized businesses better access to funding, support greater productivity and boost innovation.
The bureau says recent studies have raised concerns about competition in the lending sector which is dominated by the big banks.
It says new or smaller lenders appear to face barriers to entry and expansion and that comparing loan options and switching between lenders can be challenging.
The bureau also noted that small- and medium-sized businesses face higher borrowing costs than larger firms and that this gap is wider in Canada than in other OECD countries.
This report by The Canadian Press was first published Sept. 4, 2025.