BUSINESS FINANCING

Business Loans & Financing

Compare financing options for working capital, equipment, expansion, cash flow, and business growth.

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Compare business financing around cash flow and repayment fit

Business financing should be reviewed around more than the rate. Consider loan amount, term, funding speed, revenue requirements, fees, repayment frequency, and whether the loan supports your cash flow.

Use the filters below to narrow business loan matches by amount, credit profile, revenue or income range, lender, and must-have features.

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Business Loan Matches

Compare financing options for working capital, equipment, expansion, cash flow, and business growth.

Get immediate pre-qualification and an estimated rate with no impact to your credit score.
sponsored
goPeer Business Loan
RateBuddy
Trustpilot
Est. APR
8.99% - 34.99%
Amount
$1k - $35k
Terms
36 - 60 Mo
Credit Fit
Fair (600+)
No Collateral Required
Online Application
Flexible Repayment Options
No Early Repayment Penalty
Weekly/Bi-weekly Payments
Lump-Sum Prepayments Allowed
Online Account Management
Soft Credit Check for Pre-approval
Min Revenue: $35k/yr
Funding Time: 5 Days
Borrow from real Canadians, not big banks — with a quick online pre-qualification that won’t impact your credit score.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 34.99%
Loan Amounts $1,000 - $35,000
Available Terms 36 to 60 months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time 5 Days
Eligibility Requirements
Annual Business Revenue $35,000/yr
Credit Score Required 600
Minimum Age 18 years old
Residency Status Foreign Worker (Work Permit)
Included Features
No Collateral Required Fast Approval Online Application Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Lump-Sum Prepayments Allowed Online Account Management Soft Credit Check for Pre-approval Skip the branch visits
Highlights & Pros
  • Check your rate without affecting your credit score. Pre-qualify with a soft credit check to view your estimated rate and eligibility before deciding whether to complete a full application.
  • Competitive peer-to-peer lending model. goPeer connects eligible borrowers with Canadian investors, offering a modern alternative to traditional bank and high-cost lending options.
  • No collateral required. Borrow from $1,000 to $35,000 through an unsecured personal loan without pledging your home, vehicle, or other assets.
  • No penalty for paying early. Make additional payments or repay the entire loan early without prepayment fees, giving you more control over interest costs.
  • Clear, fully online experience. Apply online, review your personalized offer and see the applicable rate and fees before accepting the loan.
Things to Consider
  • An origination fee applies. The one-time origination fee is included in the disclosed APR and deducted from the loan proceeds, so the amount deposited will be lower than the approved loan amount.
  • Eligibility standards may be stricter. Approval depends on factors such as credit history, income, existing debt and overall ability to repay, making goPeer better suited to borrowers with established credit.
  • Only two repayment terms are available. Loans currently come with either a three-year or five-year term, which provides less term flexibility than some lenders.

Representative Example: For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.

Legal Disclaimer: Legal Disclaimer: *goPeer offers unsecured personal loans in Canada from $1,000 to $35,000, with 3- or 5-year terms and APRs ranging from 8.99% to 34.99%. Your actual rate, loan amount, and eligibility depend on your credit profile, income, debt-to-income ratio, province, and goPeer’s underwriting criteria. Minimum requirements include being 18+, a Canadian resident, having a Canadian bank account, a 600+ credit score, annual income of at least $35,000, debt-to-income ratio below 35%, no bankruptcy within the past 12 months, and at least 3 credit trades. Pre-qualification does not impact your credit score, but applying does not guarantee approval or funding. Fees may apply, including an origination fee included in the APR and applicable missed or unsuccessful payment fees. Once approved and accepted, loans are listed for investor funding, and funds are typically advanced within 1–4 business days after funding. Conditions apply.

CIBC Franchise Financing
Est. APR
Varies
Amount
Up to $1000k
Terms
Varies
Credit Fit
All Credit Types
Branch Support Available
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range Varies
Loan Amounts $0 - $1,000,000
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time Varies
Eligibility Requirements
Annual Business Revenue No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Branch Support Available
Highlights & Pros
  • Massive borrowing limit of up to $1,000,000 for qualified franchise operations.
  • Industry-specific expertise to help navigate the unique requirements of franchise ownership.
Apply in as little as 60 seconds. Funds as early as the same day
featured
Loan Marketplace
Est. APR
8.99% - 35.00%
Amount
$500 - $60k
Terms
3 - 120 Mo
Credit Fit
All Credit Types
Online Application
Flexible Repayment Options
Bad Credit Considered
Instant Loan Matching
No Impact on Your Credit to See Offers
Funds As Soon As the Same Day
Funding Time: As soon as the same day
Search a Network of Canadian Lenders in Seconds to Find Your Best Loan Rates
Completing the application will not affect the consumer's credit score. Options available to every applicant - alternative lenders, debt management, credit counselling services, and more
Apply in as little as 60 seconds. Funds as early as the same day
No impact to your credit score
Search a Network of Canadian Lenders in Seconds to Find Your Best Loan Rates
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 35.00%
Loan Amounts $500 - $60,000
Available Terms 3 to 120 months
Application Fee No application fee
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time As soon as the same day
Eligibility Requirements
Annual Business Revenue No strict minimum
Credit Score Required No Minimum
Minimum Age 18 years old
Residency Status Canadian Citizens or Permanent Residents
Applicants earning less than $1,000 per month may be unlikely to receive loan offers, although alternative offers may still be available.
Included Features
Online Application Flexible Repayment Options Bad Credit Considered Instant Loan Matching No Impact on Your Credit to See Offers Funds As Soon As the Same Day
Highlights & Pros
  • One streamlined application: LoanConnect helps borrowers explore personalized options from a network of Canadian lenders without completing separate applications for each lender.
  • Options across different credit profiles: The marketplace works with borrowers across a broad range of credit situations, making it a practical starting point for Canadians who may not know which lender fits their circumstances.
  • No impact on credit to check options: Borrowers can submit the initial LoanConnect application and explore potential offers without affecting their credit score.
  • Broad loan amounts and terms: Available personal loans range from $500 to $60,000, with repayment terms from 3 to 120 months, providing flexibility for different borrowing needs.
  • Fast matching experience: Potential offers may be presented in as little as 60 seconds, and approved funding may be available as soon as the same day.
  • Free marketplace service: LoanConnect does not charge applicants an application fee, making it convenient to explore availab
Things to Consider
  • LoanConnect is a marketplace, not the lender: Final approval, loan agreements, fees and funding are handled by the participating lender selected by the applicant.
  • The lowest rate is not available to everyone: Personal-loan APRs currently range from 8.99% to 35%. The rate offered depends on factors such as the applicant’s credit profile, financial circumstances and province.
  • Lender fees may vary: Some participating lenders may charge origination, administration or other applicable fees. Applicants should carefully review the complete loan agreement before accepting an offer.
  • Offers and funding are not guaranteed: Matching can be fast, but approval, the number of available offers and funding time depend on lender criteria and applicant eligibility.
  • Additional lender assessment may be required: Although checking options through LoanConnect does not affect the applicant’s credit score, a selected lender may conduct its own credit and identity assessment before providing final approval.

Legal Disclaimer: Loan details and eligibility: Loan amounts range from $500 to $60,000, with available terms from 3 to 120 months and annual percentage rates (APRs) ranging from 8.99% to 35%. LoanConnect is free to use and does not charge an application fee. Origination fees, if applicable, vary by lender, and applicants should carefully review all loan agreements before accepting an offer. Approved funds may be available as soon as the same day; however, funding times are not guaranteed and may vary by lender and applicant circumstances. Applicants must be Canadian citizens or permanent residents. Applicants earning less than $1,000 per month may be unlikely to receive a loan offer, although alternative offers may still be available. Approval, rates, terms, fees, and funding depend on the participating lender and the applicant’s eligibility.

CIBC Black-owned Business Financing
Est. APR
Varies
Amount
Up to $250k
Terms
Varies
Credit Fit
All Credit Types
Branch Support Available
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range Varies
Loan Amounts $0 - $250,000
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time Varies
Eligibility Requirements
Annual Business Revenue No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Branch Support Available
Highlights & Pros
  • Dedicated capital pool of up to $250,000 specifically for Black entrepreneurs.
  • Includes access to exclusive banking offers to build a sustainable business foundation.
CIBC Business Loan
Est. APR
Varies
Amount
Varies
Terms
Varies
Credit Fit
All Credit Types
Branch Support Available
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time Varies
Eligibility Requirements
Annual Business Revenue No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Branch Support Available
Highlights & Pros
  • Rapid funding: receive funds in as little as 2 days for most applications after approval.
  • Personalized service: CIBC business advisors provide tailored advice in your community.
Things to Consider
  • Requires extensive documentation, including 2 years of financial statements and tax returns.
  • Mandatory in-person or scheduled meeting with a business advisor to start the application.

Calculate Your Cost of Capital

Before you take on new debt to grow your business, know exactly how it will impact your cash flow. Use our commercial calculator to project your monthly debt service.

  • Forecast your exact monthly payment
  • Factor in standard lender origination fees
  • See the true total cost of borrowing
1. Funding Details
$
%
%
Monthly Debt Service
$0
Net Funded Amount
$0
Origination Fee Cost
-$0
Total Interest Cost
+$0
Total Cost of Borrowing
$0
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Business Funding Guide

Business loans in Canada, explained in plain English

A business loan helps a company access capital for growth, working capital, equipment, expansion, inventory, hiring, technology, or other operating needs. The right funding choice depends on what the business is trying to accomplish, how quickly cash will return, and how flexible the repayment structure needs to be.

For many owners, the goal is not just “getting approved.” It is choosing financing that matches the purpose of the borrowing, protects cash flow, and supports the business without creating unnecessary strain later.

What smart borrowers look at first

  • Why the business needs the funds
  • Whether the repayment fits projected cash flow
  • What the full cost will look like over time
  • Whether another funding structure would fit better
Funding Types

Business term loan, line of credit, or working capital financing?

Different funding tools solve different problems. Choosing the wrong type can create unnecessary cost or cash-flow pressure, even if the business qualifies.

Term loan

Usually best for a defined need with a clear repayment horizon, such as expansion, a major purchase, technology investment, or another project that benefits over time.

Line of credit

Often stronger for short-term operating needs, cash-flow gaps, inventory timing, and day-to-day flexibility when money needs may rise and fall throughout the month.

Working capital / cash-flow financing

Can be useful for growth projects that are expected to improve the business over time but do not always fit neatly into simple asset-backed financing.

Practical rule: match short-term needs with short-term flexibility, and match longer-term projects with financing that gives the business time to benefit from the investment.
What Lenders Look At

What lenders often review before approving business financing

A lender usually wants to understand two things clearly: why the business needs the money, and how the business is expected to repay it. That often means the discussion goes beyond a credit score alone.

Cash flow and repayment ability

Owners should expect questions about revenue, margins, existing debt, seasonality, and whether the business can comfortably service the loan from operating cash flow.

Management and track record

Lenders often care about the leadership team, experience, past performance, and whether management has handled similar projects or growth stages before.

Use of funds

A clear business purpose matters. Specific, well-explained uses of funds often inspire more confidence than vague borrowing requests.

Strong applications usually tell a clean story: what the business needs, why now, what the money will do, and how repayment will realistically happen.
Documents

What to prepare before you apply

A cleaner application process usually starts with cleaner information. Businesses that prepare their documents early often move through financing conversations with more confidence and less back-and-forth.

Common documents lenders may ask for

  • Recent financial statements
  • Business bank information or transaction history
  • Tax filings or business returns
  • Ownership and legal business details
  • Existing debt or financing obligations

Helpful supporting material

  • A short explanation of the funding purpose
  • Sales forecasts or cash-flow projections
  • Quotes, invoices, or project budgets
  • A simple business plan or growth outline
  • Any relevant industry or contract context
Practical tip: keep the funding request specific. “We need $X for Y, and expect Z outcome” is far stronger than a broad request with no clear plan.
Red Flags

What to watch before accepting business financing

Fast money can be useful, but unclear financing can become expensive financing. Before signing, make sure the business understands the real cost, the repayment structure, and any conditions attached to the facility.

Cost-related watch-outs

  • Focusing only on the rate and ignoring fees
  • Borrowing more than the business actually needs
  • Using short-term funding for a long-term project
  • Not checking what the full repayment looks like

Structure-related watch-outs

  • Not understanding security or guarantee requirements
  • Not reviewing renewal or demand features on flexible credit
  • Assuming every financing type works for every purpose
  • Signing before the business is comfortable with the repayment path
Safer mindset: if the financing seems easy to get but hard to explain, slow down and compare again before the business commits.
Alternatives & Options

Other funding paths worth comparing

A term loan is only one option. Depending on the stage of the business and the purpose of the funds, another structure may fit better and preserve more flexibility.

Line of credit

Can be useful for shorter-term operating needs and temporary cash-flow gaps where the business may need ongoing access rather than one lump-sum advance.

Equipment or asset-based financing

May fit better when the business is funding a specific tangible asset rather than general operations or broader growth initiatives.

Government-backed or lender-supported programs

Some businesses may qualify for financing through participating institutions under programs designed to improve access to small business funding.

Smart comparison: choose the facility that best matches the use of funds, the timing of expected returns, and the pressure it places on monthly cash flow.
Popular Questions

Business loan FAQs

Clear answers to common questions business owners ask when comparing funding options in Canada.

A business loan usually provides a fixed amount for a defined purpose and repayment structure, while a line of credit is often more flexible for shorter-term operating needs and temporary cash-flow gaps.

Lenders often review cash flow, repayment capacity, the purpose of the loan, the business track record, existing debt, and the experience of the management team.

Common items include financial statements, tax information, business banking details, ownership information, existing debt details, and supporting material that explains how the funds will be used.

Sometimes, yes. Approval depends on the lender and the strength of the overall application, including the business plan, management quality, projected cash flow, and the type of financing being requested.

Yes. Some businesses may be able to access financing through participating financial institutions under government-backed small business financing programs.

One common mistake is mismatching the financing type to the business need, such as using short-term operating credit for a longer-term project that should be repaid over more time.

Fuel your business growth.

Whether you need cash flow, equipment financing, or expansion capital, compare top commercial lenders to find the right fit for your business.

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  • Term Loans & Lines of Credit
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