Small-business loans

Affinity Credit Union

Affinity Business Term Loan

Business term loans for expansion, equipment, refinancing and leasehold improvements.

Rate type

Fixed or variable

Uses

Expansion, equipment replacement, refinancing, leasehold improvements

Alterna Savings

Alterna Savings Commercial Term Loan

Commercial term loans for equipment, expansion and working capital.

Uses

Equipment purchases, expansion, working capital

Rates and terms

Not confirmed

Repayable business loans up to CAD 150,000 for women-owned businesses in Alberta.

Maximum amount

CAD 150,000

Term

Up to 5 years

Rate

Typically prime plus 2% to prime plus 4%

Eligibility

At least 50.1% women ownership; operating or planning to operate in Alberta

BDC

BDC Business Purchase or Transfer Loan

Financing to buy, merge with or take over a Canadian business, including some transaction costs.

Repayment

Flexible, with interest-only payments at the start

Eligibility

Business being bought must be Canadian and generating revenue, with an agreed price and clear structure

Uses

Buying a business, competitor or supplier; management or employee buyouts; family transfers; refinancing seller financing

Additional costs

Can include legal fees, moving costs, goodwill and client lists

BDC

BDC Indigenous Entrepreneur Loan

Financing of up to CAD 350,000 for Indigenous entrepreneurs to grow their businesses.

Maximum amount

CAD 350,000

Eligibility

Indigenous entrepreneurs

Rate

Preferred rates (not published)

Fees

No processing or annual administration fees

BDC

BDC Purchase Order Financing

A loan that pays suppliers directly so a business can fill large customer orders.

Repayment period

Up to 18 months

Payment

Suppliers are paid directly

Eligibility

Business based in Canada, generating revenue for at least 12 months, with a good credit track record

Provinces

Nationwide

BDC

BDC Small Business Loan

An online small business loan from BDC, the federal development bank.

BDC

BDC Technology Equipment Loan

A loan for hardware, software, cybersecurity, digital infrastructure and expert IT advice.

Eligibility

Business based in Canada, generating revenue for at least 12 months, with a good credit track record

Uses

Servers, computers, software, cloud, AI tools, websites, e-commerce, cybersecurity

Professional services

Can cover IT planning, strategy, security and online sales advice

Provinces

Nationwide

BDC

BDC Working Capital Loan

A loan for growth projects such as inventory, supplier payments, new markets and hiring, without using everyday cash.

Eligibility

Business based in Canada, generating revenue for at least 12 months, with a good credit track record

Uses

Inventory, suppliers, new markets, product development, IP protection, marketing, hiring and training

Sustainability projects

Energy efficiency and green retrofit projects eligible

Provinces

Nationwide

BMO

BMO Canada Small Business Financing Loan

A government-guaranteed loan for equipment, vehicles, leasehold improvements and commercial property.

Equipment and leasehold financing

Up to CAD 500,000

Commercial property financing

Up to CAD 1,000,000

Government guarantee

85% guaranteed by the Government of Canada

Amortization

Up to 15 years

TD Canada Trust

Business Loan

Business asset financing with fixed or variable interest options and security suited to the financed purchase.

Security

May include business assets, real estate or liquid security.

Rate structure

Fixed or variable; applicant-specific rate Not confirmed.

Uses

Equipment, vehicles and other fixed assets.

RBC Royal Bank

Business Term Loan

Lump-sum business borrowing for a major purchase or refinancing, separate from revolving business credit.

Structure

Lump-sum term financing.

Uses

Equipment, inventory, property purchases and debt refinancing.

Minimum loan

Loans start at CAD 5,000.

CIBC

CIBC Canada Small Business Financing Program Term Loan

A government-backed term loan for starting or expanding a small business through eligible property, equipment, leasehold improvements, intangible assets and working capital.

Maximum amount

CAD 1,000,000

Non-real-estate limit

CAD 500,000, including up to CAD 150,000 for intangible assets and working capital

Maximum term

15 years; real estate may be amortized up to 25 years

Variable rate

CIBC prime rate plus 3%

Coast Capital Savings

Coast Capital Business Loan

Lump-sum business loans for expansion, working capital and large expenses.

Rate type

Fixed or variable

Repayment

Flexible terms matched to cash flow

Uses

Working capital, expansion, large expenses

Repayable financing through local offices for startups, existing businesses and social enterprises in BC.

Maximum amount

Up to CAD 1 million

Rates and terms

Vary by local office

Application

Through your nearest Community Futures office

Provinces

British Columbia

Conexus Credit Union

Conexus Business Term Loan

A business term loan with fixed or variable rates and no prepayment penalty.

Rate type

Fixed and variable

Prepayment

No prepayment penalty

Repayment

Flexible terms

Loans up to CAD 250,000 for Black business owners across Canada.

Maximum amount

CAD 250,000

Eligibility

Black business owners

Documents

Business and owner tax returns, personal statement of affairs, photo ID, registration certificate

Provinces

Nationwide

FirstOntario Credit Union

FirstOntario Business Term Loan

Business term loans for equipment, facility expansion and debt consolidation.

Uses

Equipment, facility expansion, debt consolidation

Rates and terms

Not confirmed

Futurpreneur

Futurpreneur Startup Program Loan

Equity-free startup financing plus mentorship for entrepreneurs aged 18 to 39 starting or buying a business.

Maximum amount

Up to CAD 75,000, including BDC financing, subject to conditions

Age

18 to 39

Uses

Starting or buying a business

Mentorship

Up to 2 years of one-to-one mentorship

Short-term business loans from CAD 10,000 to CAD 500,000 with daily or weekly automatic repayments.

Amount

CAD 10,000 to CAD 500,000

Term

6 to 24 months

Repayment

Daily or weekly automatic

Cost

Provider states it is more expensive than bank financing

Libro Credit Union

Libro Business Term Loan

Term loans for business and farm needs such as equipment, new locations and refinancing.

Term

1 to 10 years

Rate type

Fixed or variable

Uses

Business or farm needs, including equipment and livestock

Readvanceable option

Draw and repay within an approved limit

National Bank of Canada

National Bank Business Term Loan

A long-term loan for buying buildings, equipment or vehicles, with amortization based on the asset's useful life.

Uses

Tangible assets and certain intangible assets, including buildings, equipment and vehicles

Amortization

Based on the useful life of the asset financed

Rate type

Variable or fixed

Currency

CAD and USD

Term loans for asset purchases and expansion in the Northwest Territories.

Maximum amount

CAD 5 million per enterprise; over CAD 2 million subject to criteria

Rate

Prime plus 2%, 3% or 4% depending on credit risk

Fees

May apply, disclosed during application

Provinces

Northwest Territories

RBC Royal Bank

RBC Canada Small Business Financing Loan

A government-sponsored term loan for small business property, equipment, leasehold improvements, intangible assets and working capital.

Maximum amount

CAD 1,000,000

Sublimits

CAD 500,000 for equipment, leaseholds, intangibles and working capital, including CAD 150,000 for intangibles and working capital

Government guarantee

85% guaranteed by the federal government

Amortization

Up to 15 years

Scotiabank

Scotiabank Canadian Small Business Financing Program Term Loan

A government-backed term loan for eligible equipment, leasehold improvements, property, intangible assets and working capital.

Maximum amount

CAD 1,000,000

Financing coverage

Up to 90% of eligible purchases, subject to program maximums

Rate type

Fixed and variable

Amortization

Up to 15 years for leasehold and equipment; up to 20 years for real property

Scotiabank

Scotiabank Term Loan for Business

A business term loan for buying fixed assets, with fixed or floating rates and scheduled monthly payments.

Maximum amount

CAD 1,000,000

Term

Up to 5 years

Amortization

Up to 20 years for real estate; 3 to 10 years for other loans

Rate type

Fixed or floating

Business loans for construction, acquisition and expansion, with payments arranged around cash flow.

Rate type

Fixed or floating

Uses

Construction, acquisition, expansion

Underwriting

Terms, advance percentage and collateral based on cash flow

Business stage

Startups and expanding businesses

BMO

Small Business Installment Loan

Instalment financing for equipment, property investment or refinancing with fixed or variable rates.

Repayment

Pre-authorized payments and lump-sum payments available.

Term

One to five years, based on the financed purchase.

Rate options

Fixed or variable; applicant-specific rate Not confirmed.

Driven

Small Business Loan

Fixed business borrowing for working capital or expansion, with a repayment schedule for each loan.

Interest

Fixed interest; actual rate Not confirmed.

Uses

Inventory, equipment, marketing, renovations and additional locations.

Structure

Fixed loan with its own repayment schedule.

BDC

Start-up Financing

Financing for young businesses already operating and generating revenue, not a general pre-launch funding offer.

Uses

Assets, start-up fees, marketing, website development and consulting.

Maximum financing

Up to CAD 150,000, subject to approval.

Eligibility

Based in Canada, at least 12 months in business, generating revenue and a good credit track record.

TD Canada Trust

TD Canada Small Business Financing Loan

A government-backed loan for eligible business property, equipment, leasehold improvements, intangible assets and operating expenses.

Maximum amount

CAD 1,000,000

Sublimits

Up to CAD 500,000 for equipment and leaseholds, including up to CAD 150,000 for intangibles and working capital

Financing coverage

Up to 90% of eligible asset costs

Amortization

Up to 15 years; up to 25 years may be available for real property

Financing for Indigenous entrepreneurs starting, expanding or buying businesses in the Two Rivers service area.

Maximum amount

CAD 1,250,000

Amortization

Up to 10 years

Rate

Risk-based, starting at RBC prime

Minimum equity

10% cash

Lump-sum business financing for expansion, renovations, equipment and refinancing.

Minimum amount

CAD 5,000

Term

Up to 10 years

Repayment

Weekly, biweekly or monthly blended payments

Uses

Expansion, renovations, equipment, refinancing existing debt

Loans up to CAD 150,000 for women starting, buying or growing businesses in British Columbia.

Maximum amount

CAD 150,000

Term

Up to 5 years

Repayment

Interest-only for up to 6 months available

Eligibility

Women owning at least 51% of a BC business; applicant a Canadian citizen or permanent resident living in BC, over 19

Loans up to CAD 50,000 with business support for women entrepreneurs across Canada.

Maximum amount

CAD 50,000

Term

Up to 5 years

Rate

Fixed, prime plus 4% or less depending on risk

Prepayment

No penalties