Business loans in British Columbia
Vancouver, Surrey, Victoria, Kelowna and the Interior: BC businesses in hospitality, construction, transport and services use the same core funding products as the rest of Canada.
- One application, several lenders
- No credit pull to see your options
- No fee to you, ever
| Time in business | 1 year+ |
|---|---|
| Monthly revenue | $15,000+ |
| Credit score | 500+ |
| Bank account | Business |
| Fee to you | $0 |
| Credit pull to start | None |
*Best available terms from lenders in our network. Every lender sets its own criteria; approval, amount and funding time are decided by the lender and not guaranteed.
What businesses use
What British Columbia businesses typically use
- Working capital for seasonal businesses, especially tourism and hospitality.
- Equipment financing for construction, forestry-related trades, trucks and kitchens.
- Lines of credit for contractors that pay for materials before they are paid.
- Term loans for build-outs and expansion.
Not sure which fits? Compare the four most common options side by side.
Sales tax: what lenders see
British Columbia charges the federal GST at 5% (CRA) plus a separate Provincial Sales Tax (PST) at a general rate of 7%, administered by the BC Ministry of Finance. Lenders may look for both GST and PST remittances, and payroll source deductions, in good standing.
Local paperwork
- Business registered with BC Registries (or federally incorporated)
- WorkSafeBC coverage if your industry requires it: some construction lenders ask for a clearance letter
- GST (CRA) and PST (BC) accounts in good standing
Be ready
Documents lenders ask for
- Your Business Number (BN), the 9-digit number from the CRA
- Recent CRA notices or statements showing GST/HST and payroll accounts are up to date
- The last 4 months of business bank statements, all pages
- Government-issued photo ID for each owner
- A void cheque or bank letter for the business account
We never ask for online banking passwords. You only send documents to a lender after you choose that lender.
Government-backed option
The federal Canada Small Business Financing Program is available in British Columbia through participating banks and credit unions. CELER Funding can refer you to lenders that offer it; we are not a program partner and the lender makes the decision.
FAQ
British Columbia business funding questions
My business is seasonal. Can I still qualify?
Often, yes. Lenders look at your average monthly deposits over several months. Tell us about the seasonality so we can point you to products that handle uneven months, such as a line of credit.
What if I owe PST or GST?
Tell us up front. Some lenders will not fund with tax arrears; others will with a payment arrangement in place.
Is the CSBFP available in BC?
Yes. The Canada Small Business Financing Program is federal and offered through participating financial institutions in every province. We can refer you to lenders that offer it.
How fast can a BC business be funded?
Some lenders in our network fund approved businesses in as little as 4 hours; bank and government-backed loans take weeks. We tell you the realistic timeline first.
See your options in British Columbia
Two minutes, no credit pull, no fee. We come back with real options from lenders that fit.