Launch Your Sales Financing Business in Fredericton: A Step-by-Step Guide
This page offers a practical blueprint to start a Sales Financing business in Fredericton, aligned with NAICS 522220. You'll get a clear view of the 10 essential startup requirements, the permits and licenses you may need, typical startup costs, and a realistic timeline to become compliant and ready to operate.
What you’ll learn: how to register your business and obtain a Business Number, navigate provincial lending rules and consumer protections, and build compliant lending practices. We lay out a 10-item checklist that covers licensing, capitalization, privacy and data security, advertising rules, record-keeping, and ongoing reporting. We’ll also share rough cost ranges for Fredericton and a practical timeline so you can plan milestones.
Why Fredericton? The city offers a supportive small-business ecosystem, affordable setup costs, and access to local lenders and mentors. Paired with a growing retail sector, it’s a great place to launch a sales financing venture and build steady local demand.
Requirements Overview
The most critical requirement for operating a sales financing business in Fredericton is FINTRAC Registration (Anti-Money Laundering). This registration is a legal must for anyone providing financing services in Canada, and you cannot legally start or run the business without it. It establishes your compliance obligations, including reporting certain transactions, keeping proper records, and implementing AML controls. This is non-negotiable, so secure FINTRAC registration before engaging customers or processing deals.
Mandatory Operational Requirements: You’ll also need to cover health, safety, and permits. If you have employees, New Brunswick WorkSafeNB Employer Coverage is mandatory, and you’ll need to set up payroll deductions to remit taxes and contributions on behalf of staff. In addition, you’ll typically need a valid Fredericton Business Licence to operate locally. Depending on your business structure and regulatory scope, you may also need Financial Institution Registration and ongoing regulatory compliance checks to stay within provincial and federal rules.
Business Registration & Tax: Plan for core registrations and numbers. You’ll want a Business Number (BN) registration with the Canada Revenue Agency to handle taxes and government programs. If you’re trading under a name rather than your legal name, you’ll need New Brunswick Business Name Registration (SNB); if you incorporate, you’ll file NB Corporation Registration; or if you operate as a partnership, Partnership Registration applies. GST/HST Registration is required if you meet the revenue threshold or prefer to collect input tax credits. Payroll Densions Registration (for withholding and remitting CPP/EI/income tax) is another key step if you have staff.
Encouragement and next steps: Start with the regulatory must-haves (FINTRAC, BN, and appropriate registration for your business structure) and then align licences, WorkSafeNB coverage, and payroll setup. Create a simple checklist, set deadlines, a
Detailed Requirements
Here are the specific requirements for starting a sales financing in Fredericton:
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Business Number (BN) Registration RequiredA 9-digit Business Number is required for most businesses operating in Canada. It is used to interact with the Canada Revenue Agency and other federal programs. Required for GST/HST, payroll, corporation income tax, and import/export accounts. Register FREE online through Business Registration Online (BRO) at canada.ca. Takes 15-30 minutes. As of November 3, 2025, online registration is MANDATORY for new BNs - phone registration no longer available. You'll need: business name, address, owner SIN, business type, and start date. BN (9-digit number) issued INSTANTLY online. Available 21 hours/day, 7 days/week (closed 3-6am ET for maintenance).
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Financial Institution Registration RequiredFinancial institutions must be registered/licensed with federal (OSFI) or provincial (FSRA) regulators depending on incorporation and services offered. OSFI regulates federally incorporated banks, trust companies, insurance companies. Bank Act, Trust and Loan Companies Act, Insurance Companies Act. Provincial alternatives for credit unions. Minimum capital requirements. Governance requirements. Contact OSFI: 1-800-385-8647.
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FINTRAC Registration (Anti-Money Laundering) RequiredFinancial services must register with FINTRAC and implement anti-money laundering and terrorist financing compliance programs. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Mandatory for: MSBs, casinos, real estate, securities, accountants, BC notaries. Register online. Compliance program required. Suspicious transaction reporting. Large cash reporting ($10K+). Keep records 5 years. Contact FINTRAC: 1-866-346-8722.
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Business Licence RequiredGeneral business licence required to operate a business in City of Fredericton. Apply to City of Fredericton for Business Licence: 1. Determine business category 2. Complete business licence application 3. Submit required documents (ID, lease, zoning confirmation) 4. Pay application and annual fees 5. Await approval and receive licence Contact City of Fredericton Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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New Brunswick Business Name Registration (SNB) RequiredBusinesses in New Brunswick must register their business name with Service New Brunswick if operating under a name other than the owner's legal name. This applies to sole proprietorships, partnerships, and trade names. Registration provides legal recognition and is required for business operations and licensing. Registration can be completed online through SNB Online. Business name registrations for sole proprietorships and partnerships must be renewed every 5 years. To register a business name in New Brunswick: 1. Conduct name search ($13.80) 2. Complete registration through SNB Online 3. Pay $112 registration fee (includes Royal Gazette) 4. Receive certificate of business name 5. Renew every 5 years ($62) 6. Report any changes as required
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Partnership Registration ConditionalRequired for partnerships. Registration of partnerships. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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NB Corporation Registration ConditionalRequired if incorporating in New Brunswick. Incorporation under NB law. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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GST/HST Registration ConditionalRequired if annual taxable revenue exceeds $30,000 (small supplier threshold). Taxi/ride-share drivers must register regardless of revenue. Businesses with gross revenues over $30,000 in any single quarter or over four consecutive quarters must register for, collect, and remit GST/HST. Small suppliers (under $30,000) may register voluntarily. Register FREE online through Business Registration Online (BRO) when your revenue exceeds $30,000 in any 4 consecutive quarters (small supplier threshold). Takes 15-30 minutes. You MUST register within 29 days of exceeding threshold and start charging GST/HST immediately on the sale that made you exceed it. Need your BN (or get one simultaneously). As of Nov 3, 2025, online registration is mandatory. Voluntary registration available anytime for input tax credits.
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Payroll Deductions Registration ConditionalRequired if you pay salaries, wages, or other remuneration to employees. Must register before first pay period. Required if you have employees. You must withhold Canada Pension Plan (CPP), Employment Insurance (EI), and income tax from employee wages and remit to CRA. Register FREE online through Business Registration Online (BRO) when you hire your first employee. Takes 15-20 minutes. You'll need your Business Number (BN) or can get one simultaneously. Payroll account (RP) added to your BN instantly. Register BEFORE your first pay date. Required to deduct CPP, EI, and income tax from employee wages. For 2025: CPP rate 5.95%, EI employee rate $1.66/$100 insurable earnings.
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New Brunswick WorkSafeNB Employer Coverage ConditionalRequired if you have employees in New Brunswick. Employers in New Brunswick must register with WorkSafeNB (Workplace Health, Safety and Compensation Commission) and maintain coverage for workers. WorkSafeNB provides insurance coverage for workplace injuries and occupational diseases. Most employers are required to register, with limited exceptions. Registration must occur within 10 days of commencing business operations or hiring the first worker. Employers pay assessments based on their classification unit rate and assessable payroll. To register with WorkSafeNB: 1. Determine if you're in a mandatory industry with 3+ workers 2. Register with WorkSafeNB online or by phone 3. Report assessable payroll annually 4. Pay premiums based on industry rate ($1.18/100 avg 2024) 5. Maintain coverage and report workplace injuries 6. Experience rating affects rate (+80% to -40%)
Funding & Grants
Available funding programs that may apply to your sales financing:
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The Invest Nova Scotia Payroll Rebate is a negotiated incentive for knowledge-based companies creating at least 20 net new full-time positions in Nova Scotia. The rebate is 5–10% of eligible gross payroll, disbursed annually over a set period (typically up to 5 years), after audited confirmation of job creation. Eligible …
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