{"id":802270,"date":"2019-11-04T09:53:12","date_gmt":"2019-11-04T14:53:12","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=802270"},"modified":"2026-04-20T14:11:57","modified_gmt":"2026-04-20T18:11:57","slug":"banks-for-small-business-loans","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/business-loans\/banks-for-small-business-loans","title":{"rendered":"Compare bank & credit union business loans"},"content":{"rendered":"

Small businesses are the backbone of the Canadian economy, but sometimes they need help too. The most obvious source of assistance is loans from banks \u2013 more specifically, the Big Five banks of Canada. These financial institutions generally offer the best interest rates and conditions on the market. The only catch is you have to meet the strict criteria for approval.<\/p>

Compare Canada\u2019s biggest banks for small business loans<\/h3>

The list below shows some of the biggest banks in Canada that offer business loans and Canada Small Business Financing Program (CSBFP<\/a>) loans.<\/p>

TD Canada Trust <\/b><\/h4>

With flexible loan options and a range of financing products to choose from, TD Canada Trust can help you get the money you need to start or grow your small business.<\/p>

  • Term loans. <\/b>TD small business loans will be secured by what you\u2019re buying or other business assets. You can choose between 1 to 5 year fixed interest rate terms. Amortization periods go up to 30 years, depending on the useful life of the asset. There is the option to use a variable interest rate instead, too. You have the option to make early payments of up to 10% per year without penalty.<\/li>
  • Canada Small Business Financing Program (CSBFP) Loan.<\/b> Financing under this program is available for up to 90% of eligible costs of financed assets. Generally, the maximum amortization period is 10 years, but there are some offers of 20 years. Fixed and variable interest rates are available. A minimum personal guarantee of 25% is required.<\/li>
  • Lines of credit.<\/b> TD lines of credit require collateral, typically in the form of business assets or real estate equity. The interest rate is variable. You\u2019re only required to make interest payments on amounts you borrow. Repay the principal as it is best for you.<\/li>
  • Mortgages. <\/b>Commercial real estate, mixed-use properties and rural properties not used for farming are eligible for mortgages with TD. Businesses can choose between a variable and fixed interest rate.<\/li><\/ul>