Business loans in Ontario
From Toronto and the GTA to Ottawa, Hamilton, London and the north, Ontario businesses use the same core products as everywhere in Canada. The difference is in the paperwork lenders read.
- 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 Ontario businesses typically use
- Working capital for payroll, rent and inventory between busy periods.
- Equipment financing for trucks, kitchen equipment, machinery and tools.
- Lines of credit for trades and B2B businesses that wait on customers.
- Invoice factoring for trucking, staffing and wholesale businesses with slow-paying customers.
Not sure which fits? Compare the four most common options side by side.
Sales tax: what lenders see
Ontario uses the Harmonized Sales Tax (HST) at 13%, administered by the Canada Revenue Agency (CRA). HST you collect is not your money: lenders reading your bank statements often look for regular HST remittances, and CRA arrears for HST or payroll source deductions can slow or stop an approval.
Local paperwork
- Business registered with the Ontario Business Registry (or federally incorporated)
- WSIB coverage, if your industry requires it: some construction lenders ask for a clearance certificate
- HST account in good standing with the CRA
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 Ontario 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
Ontario business funding questions
Do lenders in your network fund businesses anywhere in Ontario?
Yes. We refer businesses from across the province. Lenders decide based on your bank statements, time in business and credit, not your city.
What if I am behind on HST?
Tell us up front. Some lenders will not fund with CRA arrears; others will if there is a payment arrangement in place. Being open about it saves everyone time.
Can I get a CSBFP loan in Ontario?
Yes. The Canada Small Business Financing Program is federal and is offered through participating banks and credit unions in every province. We can refer you to lenders that offer it; the lender decides.
How fast can an Ontario business be funded?
It depends on the product and the lender. Some lenders in our network fund approved businesses in as little as 4 hours; bank and government-backed loans take weeks.
See your options in Ontario
Two minutes, no credit pull, no fee. We come back with real options from lenders that fit.