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Unsecured

Government

Term Loans

Eligibility

Annual Revenue:

  • Generating revenues for 24 months

Time in Business:

  • Generating revenues for 24 months

Other:

  • Reached the age of majority in your province
  • Good credit history
  • Evidence of cash funding (varying from 25% – 75%)

Typical Range

Up to $100,000

Features

Payment Schedule:

  • Reporting requirements exist for certain projects
  • Loans repaid over 60 months, capital postponement for the first 6 months (initial 6 payments are interest only)
  • Loan management fees $150 annually, $150 per loan amendment

Timeliness to Fund:

Varies significantly – if needing to prove eligibility an online application is submitted for review/ potential interview. Variations include:

  • Apply online, 5 business days or less
  • Find partnering bank to match government funding
  • Negotiate final agreement once approved

Origination & Interaction Model:

  • Apply online. In person interview required

Other Features:

  • Very industry specific – loans for underrepresented genders, races, geographies, solutions (i.e. Business Expansion, Capital Adoption, Innovation, R&D, Hiring & Training etc.)