While many new small companies are financed out of their owners’ pockets, many others want an infusion of funds from other sources to get off the ground. This page presents the primary small enterprise financing choices for financing a new business in Canada.
Best for: Businesses seeking to buy actual property. Startups are also eligible to apply for 504 financing. Funding time: We appeared for lenders that both provided quick funding time or had been transparent in regards to the utility course of. Many lenders now perceive the importance of getting funds to businesses quickly, so we favored lenders that offered quick approval and funding. Various down cost necessities: Each lender has its own minimal necessities for down funds. The down payment could depend upon type of mortgage, borrower’s credit worthiness and company coverage.
Products: A range of small enterprise mortgage products with fixed and easy rates of interest are … Read more