{"id":799050,"date":"2019-08-19T01:00:31","date_gmt":"2019-08-19T05:00:31","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=799050"},"modified":"2026-01-16T17:48:22","modified_gmt":"2026-01-16T22:48:22","slug":"business-loan-interest-rates","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/business-loans\/business-loan-interest-rates","title":{"rendered":"Current Business Loan Interest Rates in Canada"},"content":{"rendered":"

When seeking financing for your small business, the interest rate is understandably one of the most crucial factors to consider. Small business loan interest rates in Canada depend on the financial conditions of the business, such as how long it’s been operating, current and historical revenue and personal and business credit scores.<\/p>

Compare business loan interest rates in Canada<\/h3>

Compare the latest small business loan interest rates from direct lenders and brokers.<\/p>
Lender<\/th>Interest rate<\/th>Loan amount & term<\/th>Eligibility requirements<\/th><\/th><\/tr><\/thead>
Advance Funds Network<\/td>Starting at 8.00%<\/strong><\/td>
  • $10,000 - $1,000,000<\/li>
  • 3 - 24 months<\/li><\/ul><\/td>
  • A minimum of 6 months in business with an annual revenue of at least $240,000<\/li>
  • Minimum of 500 credit score<\/li><\/ul><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
Journey Capital<\/td>8% - 29%<\/span><\/strong><\/td>
  • $10,000 - $500,000<\/li>
  • 4 - 24 months<\/li><\/ul><\/td>
  • Minimum 6 months in business.<\/li>
  • Minimum credit score of 600<\/li>
  • Minimum $120,000 in annual revenue<\/li><\/ul><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
Merchant Growth<\/td>12.99% \u2013 39.99%<\/span><\/strong><\/td>
  • $5,000 \u2013 $800,000<\/li>
  • 6 \u2013 24 months<\/li><\/ul><\/td>
  • Minimum 6 months in business<\/li>
  • Minimum $10,000 revenue<\/li>
  • Must accept debit\/credit at your business<\/li><\/ul><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
Loans Canada<\/td>8.99% - 35.00%<\/span><\/strong><\/td>
  • $500 - $50,000<\/li>
  • 4 - 60 months<\/li><\/ul><\/td>
  • Minimum $120,000 in annual revenue<\/li>
  • Minimum credit score of 410<\/li>
  • Minimum 9 months in business<\/li><\/ul><\/td>
\r\n
\r\n \r\n Go to site\r\n <\/a>\r\n\r\n <\/div>\r\n <\/section><\/td><\/tr>
Lending Loop<\/td>4.96% - 24.93%<\/span><\/strong><\/td>
  • $1,000 - $500,000<\/li>
  • 3 - 60 months<\/li><\/ul><\/td>
  • Annual business revenue of at least $100,000, at least 1 year in business, minimum credit score of 600+<\/li><\/ul><\/td>
<\/td><\/tr>
Canada Small Business Financing Program (CSBFP)<\/td>Interest rates can be variable or fixed. For a variable rate, the maximum chargeable rate is the lender's prime + 3%. For a fixed rate, the maximum is the lenders' single family residential mortgage rate + 3%.<\/strong><\/td>
  • Borrow up to $1.15 million<\/li>
  • Take up to 15 years to repay<\/li><\/ul><\/td>
  • Small businesses or start-ups operating in Canada, with gross annual revenues of $10 million or less are eligible.<\/li><\/ul><\/td>
<\/td><\/tr>
Futurpreneur<\/td>CIBC prime + 3%<\/span><\/strong><\/td>
  • Up to $25,000<\/li>
  • 5 years (interest-only payments in the first year)<\/li><\/ul><\/td>
  • Must be 18 to 39 years old<\/li>
  • Demonstrate training or expertise in your field<\/li>
  • Cannot be a contractor or agent<\/li><\/ul><\/td>
<\/td><\/tr>
RBC Visa CreditLine<\/td>From Prime + 2.9% to 11.9% <\/span><\/strong><\/td>
  • From $10,000<\/li>
  • Open term<\/li><\/ul><\/td>
  • Not disclosed, but you typically need to have a positive cash flow<\/li><\/ul><\/td>
<\/td><\/tr>
BMO Line of Credit<\/td>From Prime + 2 to Prime + 11% <\/span><\/strong><\/td>
  • From $10,000 to $1,000,000<\/li>
  • Open term<\/li><\/ul><\/td>
  • Not disclosed, but you typically need to have a positive cash flow<\/li><\/ul><\/td>
<\/td><\/tr><\/tbody><\/table>

Note: The current bank prime rate is 4.45%<\/span>.<\/p>

\n
\nRelated: <\/span>Compare 32+ business loans for small to large businesses in Canada<\/a>\n<\/div>\n<\/article>
\n
\n \n \n \n \n \n<\/svg>

Key takeaways<\/h3>\n <\/div>\n\n