Tell us about your business and what you want to fund. A verified business finance professional who covers your postal code will get in touch to explain the options, what each costs and what lenders look at, before you apply.
A verified professional will get in touch.
Each solves a different problem. The best one depends on what the money is for and how quickly you need it.
A lump sum repaid over a set period, secured or unsecured. Suits a one-off need such as expansion.
Borrowing to buy equipment or vehicles, often secured on the asset.
Receiving part of the value of unpaid invoices early, for a fee.
A limit you can draw on and repay, useful for uneven cash flow.
Programs such as the Canada Small Business Financing Program, offered through lenders.
Repaid from future sales. It can cost much more than a loan, so compare the total cost carefully.
Many lenders want a track record, and some set a minimum.
How much the business brings in and keeps.
Whether the business can cover the payments comfortably.
Of the business and, often, of its owners.
What is pledged, and whether you are asked to guarantee the loan personally.
What the money is for, and how much you need.
Add up every payment so offers can be compared fairly.
Setup, ongoing and other fees that add to the cost.
What you would be putting at risk personally.
How often you pay, and how that fits your cash flow.
Whether clearing the loan sooner saves money.
Where that applies, check with your provincial regulator yourself.
We'd rather connect you with the right provider once than flood your inbox with a dozen you'll never call back.
A term loan, equipment financing and a line of credit each solve a different problem. You hear which fits what you want to fund.
Fees, repayment schedules and personal guarantees all matter. You hear what to ask about before you sign.
You get the options explained. Whether to apply is always your decision.
Common ones are a term loan, equipment financing or leasing, a line of credit, invoice financing that advances money against unpaid invoices, a commercial mortgage for premises, and government-backed loans through banks and credit unions. Each suits a different need.
Yes. The Canada Small Business Financing Program shares the risk with participating lenders on loans for equipment, leasehold improvements and property, and the Business Development Bank of Canada lends to businesses too. Provinces also have programs. Ask a professional what you may qualify for, and what the lender and program charge.
It can be harder, since many lenders want to see a track record, often at least a year of trading. Some lenders focus on newer or smaller businesses, and equipment financing can be easier to get because the equipment is the security. A professional can tell you what is realistic.
It's a promise that you will repay a business loan personally if the business can't. Many lenders ask for one, especially from smaller businesses. It can put your own assets, including your home, at risk, so understand exactly what you would be agreeing to.
A lender may register a claim against your business assets, such as equipment, inventory or receivables, in your province's personal property registry. That can limit what else you can borrow against. Ask what the lender would take security over.
Business loans don't get the same consumer protections as personal credit, so there are fewer protections built in. That makes it more important to read the terms and compare carefully. Some federal rules, such as the maximum interest rate, still apply to many loans.
How long you have been in business, your revenue and profit, your cash flow and existing debts, your credit history and that of the owners, what you want to borrow for, and any security you can offer.
The total you'll repay, setup and ongoing fees, whether the rate is fixed, whether you must give security or a guarantee, early repayment costs and how flexible the payments are.
It lets you receive money now in exchange for a share of future sales or card payments. It can cost much more than a loan, so ask for the total you would repay and compare it with other options.
Complain to the lender first. If you're not happy with the answer, the Ombudsman for Banking Services and Investments handles complaints from small businesses about many banks, and provincial regulators handle other lenders. Ask what applies to you.
What your business does and how long it has operated, roughly your revenue, how much you need and what it's for, and your postal code. If you don't have everything, send the request anyway.
No. Namoye is a free matching service. It is not a lender, broker or adviser, and it doesn't make credit decisions. Any offer comes from the firm that contacts you.
No to both. A verified professional contacts you, and Namoye is free for you.
All CA finance · Personal Loan · Purchase Mortgage
Namoye is a free matching service. It is not a lender, broker or adviser, and it doesn't give financial advice or make credit decisions. Any offer comes from the firm that contacts you. Check a firm's registration with your provincial regulator where one is required, and read any agreement carefully before you sign.
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