Small business loans across Canada
We refer businesses in every province and territory to lenders active where they operate. The products are the same across the country; the tax accounts and registrations lenders check are not.
Short answer
Where can I get a small business loan in Canada?
Small business loans in Canada come from three places: banks and credit unions (which also offer loans under the federal Canada Small Business Financing Program), BDC, the federal Crown corporation that lends to entrepreneurs, and private lenders and funding companies. celerfunding.com is a free business funding broker (a referral service), not a lender: we match businesses in every province and territory with independent lenders active where they operate, and the lender makes every credit decision.
Banks, caisses populaires and credit unions
Term loans and lines of credit. They also deliver the Canada Small Business Financing Program, which, in the words of Innovation, Science and Economic Development Canada, "makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders." It is for small businesses and start-ups operating in Canada with gross annual revenues of $10 million or less (farming businesses have a separate program), and the financial institution alone approves the loan. Our plain-language CSBFP page and CSBFP guide explain how to ask for it.
BDC (Business Development Bank of Canada)
A financially sustainable Crown corporation owned by the Government of Canada. BDC offers financing and advice to small and medium-sized businesses and describes its role as complementing private-sector financial institutions. You apply with BDC directly.
Private lenders and funding companies
Products such as a business line of credit, equipment financing and working capital. This is where a referral service helps: one short application, and we show you lenders that fit your province, industry and numbers. Each lender sets its own approval rules, rates and terms.
Seeing your options does not pull your credit; a lender may check credit later if you choose to go ahead with an offer. Want to know how a funding broker is paid? Read how business funding brokers get paid. If your bank already said no, read what to do after a bank declines your business loan, or start a free application.
Updated
Ontario
From Toronto and the GTA to Ottawa, Hamilton, London and the north, Ontario businesses use the same core products as everywhere in Canada.
Business loans in Ontario →Quebec
Montreal, Quebec City, Laval, Gatineau, Sherbrooke and the regions.
Business loans in Quebec →British Columbia
Vancouver, Surrey, Victoria, Kelowna and the Interior.
Business loans in British Columbia →Alberta
Calgary, Edmonton, Red Deer, Lethbridge and beyond.
Business loans in Alberta →Manitoba
Winnipeg, Brandon, Steinbach and farm country.
Business loans in Manitoba →Saskatchewan
Saskatoon, Regina, Prince Albert and a lot of rural highway.
Business loans in Saskatchewan →Nova Scotia
Halifax, Sydney, Truro and the South Shore.
Business loans in Nova Scotia →New Brunswick
Moncton, Saint John, Fredericton and the North Shore.
Business loans in New Brunswick →Newfoundland and Labrador
St.
Business loans in Newfoundland and Labrador →Prince Edward Island
Charlottetown, Summerside and the rest of the Island.
Business loans in Prince Edward Island →Yukon
Whitehorse, Dawson City and the highway communities.
Business loans in Yukon →Northwest Territories
Yellowknife, Hay River, Inuvik and the communities.
Business loans in Northwest Territories →Nunavut
Iqaluit, Rankin Inlet, Cambridge Bay and every community in between.
Business loans in Nunavut →Canada Small Business Financing Program
The federal loan program offered through banks and credit unions, and how to ask for it.
About the CSBFP →En français
Tout le site en français pour les entreprises du Québec.
Aller au site français →Sales tax by province
What your bank statements show a lender
Lenders read your deposits and your tax remittances. Here is the sales tax setup in every province and territory.
| Province | Sales tax | Administered by |
|---|---|---|
| Ontario | HST 13% | CRA |
| Quebec | GST 5% + QST 9.975% | Revenu Québec (for most businesses) |
| British Columbia | GST 5% + PST 7% | CRA (GST), BC Ministry of Finance (PST) |
| Alberta | GST 5% only | CRA |
| Manitoba | GST 5% + PST 7% | CRA (GST), Manitoba (PST) |
| Saskatchewan | GST 5% + PST 6% | CRA (GST), Saskatchewan (PST) |
| Nova Scotia | HST 14% | CRA |
| New Brunswick | HST 15% | CRA |
| Newfoundland and Labrador | HST 15% | CRA |
| Prince Edward Island | HST 15% | CRA |
| Yukon | GST 5% only | CRA |
| Northwest Territories | GST 5% only | CRA |
| Nunavut | GST 5% only | CRA |
General rates at the time of writing; some goods and services are taxed differently. Check with the CRA, Revenu Québec or your accountant.
Anywhere in Canada
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 most recent 6 months of business bank statements, all pages, PDF
- A fully completed application
- Government-issued photo ID for each owner
- A void cheque or bank letter for the business account
| Time in business | 1 year+ |
|---|---|
| Monthly bank deposits | $20,000+ |
| 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.
Canadian law
The federal 35% interest rate cap
Since January 1, 2025, Canada's Criminal Code sets the criminal interest rate at an annual percentage rate above 35% on the credit advanced (section 347). "Interest" there includes fees, commissions and penalties tied to the loan, not only the stated rate.
Some business loans are exempt under the Criminal Interest Rate Regulations (SOR/2024-114), only when the borrower is not an individual and the money is for a business or commercial purpose:
- More than $500,000 advanced: the section 347 cap does not apply.
- More than $10,000 and up to $500,000: exempt only if the APR is 48% or less.
- $10,000 or less: the 35% cap applies.
Ask any lender for the APR in writing before you sign. Sources: Criminal Code, s. 347 and SOR/2024-114 (Justice Canada). General information, not legal advice.
See what your business qualifies for
Two minutes, no credit pull, no fee. We come back with real options from lenders that fit.