Loans Canada connects Canadian small business owners to lenders offering financing from as low as $1,000 up to $500,000.
Loans Canada services are always free to business owners. They offer a free no-obligation loan quote.
To be eligible, the business owner must satisfy these criteria:
- Any credit rating is accepted
- Have been in business for at least 100 days
- Have a Canadian business bank account
- Have at least $5,000 in monthly deposits or $100,000 in Revenue per year
Loan terms vary by lender, and terms also depend on the borrower’s financial history.
Some general information:
- The interest rates start from 6.99% APR (Annual Percentage Rate*)
- The term can be as short as 3 months and as long as 60 months
- Loans may be secured or unsecured loans
*The annual percentage rate is the amount of interest charged to borrowers expressed as a percentage for a full year. APR captures additional costs of financing, such as fees. These extra costs are not calculated in an interest rate. Lenders publish the APR percentage because it more accurately reflects the full cost of borrowing.