$50,000
$10,000,000
The right business loan can help you act on an opportunity without using all of your available cash. Green Light Money Services Inc. helps Canadian companies explore business financing for equipment, working capital, inventory, expansion, technology, renovations, acquisitions, contracts and commercial property.
We begin by assessing lower-cost government-supported and institutional lending. If the business does not qualify—or the opportunity cannot wait—we consider secured and private alternatives.
Business financing may be used to:
The best loan structure depends on the use of the funds. Equipment financing, for example, is assessed differently from a working-capital or commercial-property loan.
The Canada Small Business Financing Program helps eligible businesses obtain loans through participating financial institutions. Eligible financing may include equipment, leasehold improvements, commercial property, certain intangible assets and an eligible working-capital line of credit. The program currently permits total financing of up to $1.15 million, consisting of up to $1 million in term loans and up to $150,000 through a line of credit.
Maximum program rates: Variable term loan — lender prime plus up to 3%. Fixed term loan — applicable lender residential mortgage rate plus up to 3%. Line of credit — lender prime plus up to 5%.
A 2% program registration/insurance fee applies and may generally be financed as part of the loan. The participating financial institution makes the final lending decision.
BDC provides financing for eligible Canadian entrepreneurs and established businesses. Financing may support working capital, equipment, business expansion, technology, commercial real estate, business acquisitions, and growth projects.
BDC does not use one standard interest rate for all borrowers. Its small-business loan rate is generally calculated using its current floating base rate plus a variance based on the applicant's personal and business information.
Equipment financing may help a business purchase construction machinery, manufacturing equipment, commercial vehicles, restaurant equipment, medical equipment, computers and technology, tools and specialized assets, or new or eligible used equipment. The purchased equipment may serve as security for the loan.
Indicative secured or alternative rate: approximately 10% to 15%. Qualified borrowers may be able to access lower institutional or government-supported rates.
Working-capital financing can help cover everyday operating requirements, including payroll, inventory, supplier invoices, marketing, seasonal costs, contract expenses, rent and operating costs, and temporary revenue delays.
Indicative rate: from lender prime plus a margin for qualified institutional borrowers to approximately 21% or more for private funding. Working-capital lenders usually focus on revenue, bank deposits, profitability and the company's ability to make regular payments.
A business may have a confirmed order or contract but lack the capital required to purchase materials, hire labour or complete the work. Contract-related financing may help bridge the period between beginning the project and receiving the customer's payment. The strength of the contract, customer, gross margin and payment schedule will be important to the assessment.
Commercial-property financing may be available for purchasing an owner-occupied property, expanding an existing facility, renovating a business location, refinancing commercial real estate, or accessing equity for business purposes. The lender may assess the property value, business cash flow, down payment, location and intended use.
The final rate depends on the loan amount, business finances, credit, collateral, repayment term, risk and overall transaction structure.
Still wondering about funding, your business, and how Green Light can get you there? Start here.
Possibly. A strong business plan, owner investment, relevant experience, signed contracts, collateral or another clear source of repayment may strengthen the application.
Yes. We assess why the bank declined the application and whether another financing source or structure may be appropriate.
No. Some institutional and government-supported products may be available without specific asset security. Larger, private or higher-risk loans commonly require collateral or guarantees.
An initial assessment may be possible within 24 hours. Final funding time depends on the product, lender review, valuation, legal requirements and transaction complexity.
Tell us how much capital you need, what it will be used for and how quickly it is required.
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