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Business Loans Nova Scotia - Compare Providers
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 |  | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 23 | 1700524800 |  | Up to $25,000 | 24.99% – 29.99% | 30 or 60 | ||
| 7 | 1692748800 |  | Up to $350 | 0% | Up to 65 days | ||
| 100 | 1688083200 |  | $150 – $1,600 | 10 – 35% | 3 – 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 22 | 1683676800 |  | $15,000 | 6.7% | Up to 60 | ||
| 2 | 1670889600 |  | $1,000 – $15,000 | 19.9% – 34.9% | – | ||
| 8 | 1666051200 |  | $250 | 0% | – | ||
| 100 | 1643932800 |  | $500 – $15,000 | Starting at 18.9% | 6 – 60 | ||
| 100 | 1642723200 |  | Up to $1,500 | $14 per $100 borrowed | 14 days | ||
| 100 | 1623369600 |  | Varies | 0% | 6 or 8 weeks | ||
| 1 | 1620777600 |  | Up to $35,000 | 9.99% – 35% | 6 – 60 | ||
| 24 | 1607558400 |  | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1600646400 |  | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 100 | 1598918400 |  | Up to $15,000 | – | – | ||
| 100 | 1598832000 |  | $500 – $15,000 | Start at 10.99% | 9 – 60 | ||
| 19 | 1582243200 |  | – | – | Up to 60 | ||
| 100 | 1580860800 |  | $1,500 – $10,000 | – | 12 – 60 | ||
| 17 | 1580774400 |  | $1,000 – $25,000 | 8.99% – 34.99% | 36 or 60 | ||
| 100 | 1579478400 |  | $100 – $1,500 | – | – | ||
| 14 | 1579478400 |  | $850 – $1,600 | 29.78% – 34.95% | 36 months | ||
| 100 | 1576713600 |  | $500 – $100,000 | Starting at 12.99% | Up to 60 | ||
| 10 | 1552262400 |  | $500 – $18,000 | 29.9% or 34.28% | 6 – 60 | ||
| 100 | 1551830400 |  | $100 – $1,000 | $14 per $100 borrowed | 14 days | ||
| 100 | 1551830400 |  | $1,000 – $15,000 | 19% – 34.95% | 12 – 60 | ||
| 100 | 1551398400 |  | Up to $1,500 | $14 per $100 borrowed | 14 days | ||
| 23 | 1551139200 |  | Up to $15,000 | 34.99% | Open-end | ||
| 100 | 1550534400 |  | $100 – $1,500 | $14 per $100 borrowed | 14 days | ||
| 11 | 1569974400 |  | Up to $1,500 | $14 per $100 borrowed | Up to 62 days | ||
| 100 | 1550534400 |  | $500 – $1,000 | 23% | 3 – 6 | ||
| 100 | 1550534400 |  | $300 – $1,000 | Up to 38% | 3 – 4 | ||
| 100 | 1549411200 |  | $100 – $1,500 | $14 per $100 borrowed | 14 days | ||
| 100 | 1567555200 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1549238400 |  | $250 – $1,500 | 23.99% – 29.99% | 3 – 4 | ||
| 20 | 1548720000 |  | $500 – $1,000,000 | 7.9% | 12 | ||
| 4 | 1543622400 |  | Up to $60,000 | 19.99% – 34.99% | 6 – 120 months | ||
| 100 | 1545350400 |  | $300 – $1500 | Starting at 18% | 3 – 7 | ||
| 15 | 1545350400 |  | $500 – $1000 | Up to 32% | 3 | ||
| 100 | 1545350400 |  | $500 – $750 | 23% | 3 – 4 | ||
| 100 | 1545350400 |  | $500 – $750 | 22% | 90 – 120 days | ||
| 100 | 1545350400 |  | $300 – $3,000 | 27% – 35% | 90 – 120 days | ||
| 5 | 1545264000 |  | $500 – $100,000 | 29.99% – 35% | 9 – 84 | ||
| 3 | 1545264000 |  | Up to $5,000 | 34.37% | – | ||
| 9 | 1568937600 |  | Up to $10,000 | Varies by product | Varies by product | ||
| 21 | 1545177600 |  | Up to $35,000 | Starting at 12.99% | Up to 60 | ||
| 13 | 1545177600 |  | $100 – $20,000 | Up to 35% | Up to 60 | ||
| 100 | 1569974400 |  | $200 – $1,500 | $14 per $100 borrowed | Next payday |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 3 | 1725321600 |  | Up to $40,000 | $0.75 per $1,000 per day | – | ||
| 8 | 1714089600 |  | $10,000 – $20,000,000 | – | – | ||
| 7 | 1714089600 |  | $10,000 – $2,000,000 | 10%+ | Up to 36 | ||
| 2 | 1669852800 |  | $10,000 – $300,000 | – | 3 – 24 | ||
| 100 | 1648512000 |  | $1000 - $250,000 | – | – | ||
| 100 | 1620345600 |  | – | – | 12 – 60 | ||
| 100 | 1611878400 |  | – | – | – | ||
| 24 | 1607558400 | | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1598918400 |  | – | – | – | ||
| 100 | 1585612800 |  | – | – | 6 – 60 | ||
| 100 | 1580947200 |  | $200,000 – $5,000,000 | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | $5,000 – $1,000,000 | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580688000 |  | Up to $10,000 | Prime + 2.5% | Up to 60 | ||
| 100 | 1580256000 |  | $5,000 – $800,000 | – | 6 – 24 | ||
| 100 | 1579478400 |  | $50,000 – $5,000,000 | – | 3 – 36 | ||
| 100 | 1579478400 |  | – | – | 24 – 60 | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | Up to $1,200,000 | – | 12 – 84 | ||
| 100 | 1579046400 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1575849600 |  | $5,000 – $150,000 | Starting 15% | 6 – 24 | ||
| 100 | 1575849600 |  | Up to $250,000 | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 1 | 1545955200 |  | $1,000 – $300,000 | 5.49% – 22.79% | 12 – 60 | ||
| 100 | 1552262400 |  | Up to $250,000 | – | Up to 10 years | ||
| 100 | 1552262400 |  | Up to $1,000,000 | – | – | ||
| 100 | 1551830400 |  | $10,000+ | – | Up to 15 years | ||
| 100 | 1551830400 |  | Up to $1,000,000 | – | Up to 15 years | ||
| 100 | 1551830400 |  | Up to $500,000 | – | Up to 15 years | ||
| 100 | 1551830400 |  | Starting at $5,000 | – | Up to 84 | ||
| 100 | 1551398400 |  | $3,500+ | – | – | ||
| 100 | 1551398400 |  | $10,000 – $1,000,000 | 4% – 14% | 12 – 84 | ||
| 100 | 1551139200 |  | Up to $250,000 | – | Up to 48 | ||
| 100 | 1550534400 |  | $500 – $50,000 | 2.75% – 8.25% | 12 week cycles | ||
| 100 | 1550534400 |  | $1,000 – $1,000,000 | 6% – 20% | – | ||
| 100 | 1550534400 |  | Up to $5,000,000 | – | 24 – 72 | ||
| 100 | 1550534400 |  | $5,000 – $200,000 | – | – | ||
| 100 | 1549411200 |  | $50,000 – $12,000,000 | – | 24 – 96 | ||
| 100 | 1548720000 |  | Up to $100,000 | – | – | ||
| 100 | 1548720000 |  | $10,000 – $300,000 | – | – | ||
| 100 | 1545264000 |  | Up to $250,000 | – | 3 – 24 | ||
| 6 | 1545350400 |  | $15,000 – $1,500,000 | – | 6 – 36 | ||
| 5 | 1545177600 |  | $5,000 – $300,000 | 9% – 35% | Varies by product | ||
| 4 | 1545177600 |  | $5,000 – $500,000 | 4.96% – 24.93% | 1 – 60 |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 2 | 1679529600 |  | Varies | Varies | 24 – 96 months | ||
| 3 | 1632960000 |  | Min. $10,000 | 6.93% – 19.99% | 18 – 96 | ||
| 8 | 1624233600 |  | $5,000 – $75,000 | – | 12 – 96 | ||
| 24 | 1607558400 | | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1600646400 | | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 6 | 1597104000 |  | – | – | – | ||
| 6 | 1582761600 |  | – | – | – | ||
| 100 | 1581033600 |  | – | – | – | ||
| 100 | 1580688000 |  | – | Starting at 12.9% | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1578873600 |  | – | Starting at 10.99% | – | ||
| 100 | 1578873600 |  | – | – | – | ||
| 100 | 1551830400 | | Starting at $5,000 | – | – | ||
| 100 | 1552262400 | | Up to $1,000,000 | – | up to 96 | ||
| 100 | 1551830400 |  | – | – | 6 – 96 | ||
| 100 | 1551830400 | | $10,000+ | – | 12 – 96 | ||
| 100 | 1551830400 | | Up to $1,000,000 | – | Up to 15 years | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1575849600 |  | – | – | – | ||
| 100 | 1575849600 |  | $5,000 – $45,000 | 4.90 % – 29.95% | – | ||
| 100 | 1575849600 |  | – | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 6 | 1569974400 |  | – | Up to 29.99% | 12 – 96 | ||
| 100 | 1561507200 |  | – | – | – | ||
| 1 | 1560124800 |  | Up to $100,000 | 3.99% - 19.9% | 24 -96 | ||
| 100 | 1551830400 |  | – | – | – | ||
| 100 | 1548633600 |  | – | Starting at 4.2% | – | ||
| 100 | 1545177600 |  | – | – | 12 – 84 |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 100 | 1578873600 |  | Up to $50,000 | – | 24 – 60 | ||
| 100 | 1545264000 |  | Up to $50,000 | – | – |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | N/A | N/A | N/A | ||
| 3 | 1726531200 |  | $5,000 + | 6% – 16% | 12 – 60 | ||
| 5 | 1700524800 |  | – | - | - | ||
| 4 | 1690934400 |  | – | – | – | ||
| 2 | 1688601600 |  | Min $110,000 | 4.14% – 6.29% | 24– 120 | ||
| 100 | 1627344000 |  | – | 4.50% – 5.97% | 12 – 60 | ||
| 100 | 1581033600 |  | – | 4.19% – 6.04% | 12 – 120 | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | 2.99% – 5.49% | 6 – 60 | ||
| 100 | 1580860800 |  | $50,000+ | – | 12 – 120 | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580688000 |  | – | – | 6 – 60 | ||
| 100 | 1579478400 |  | – | 4.54% – 7.49% | 6 – 120 | ||
| 100 | 1578873600 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | 4.49% – 6.63% | 1 – 10 years | ||
| 100 | 1574899200 |  | – | – | 12 – 60 | ||
| 100 | 1560124800 |  | – | 4.64% – 5.80% | 1 – 10 years | ||
| 100 | 1548806400 |  | $10,000 – $3,000,000 | Varies | 12 – 24 | ||
| 1 | 1517097600 |  | $10,000 – $500,000 | Starting at 10% | – |
| Provider | Services | Rating | |||
|---|---|---|---|---|---|
| 0 | 0 | | Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation | ||
| 100 | 1576540800 |  | Credit Counselling, Bankruptcy, Consumer Proposal | ||
| 100 | 1576540800 |  | Credit Counselling, Debt Management Program | ||
| 100 | 1576368000 |  | Credit Counselling, Debt Management Program | ||
| 100 | 1576454400 |  | Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring |
For business owners in Nova Scotia, business loans can be a very beneficial, often necessary financial tool to get their company started or keep it running efficiently. Maintaining any business can require lots of funding, which isn’t always easy to get when every dollar you make is already going toward your other regular expenses. So, if a Nova Scotia business loan sounds like a good idea to you, keep reading.
Areas Where Business Financing Can Help in Nova Scotia
Getting a Nova Scotia business loan doesn’t have to be for the sole purpose of establishing your business. There are so many other places where that loan could come in handy, including but not restricted to:
- Bringing your business to the digital age with a new website or blog
- Advertising your business through television commercials, billboards, merchandise or other marketing tactics
- Improving the appearance of your current storefront or business location in Nova Scotia
- Building or buying a new location, then improving the look of it as well
- Outfitting your location with the latest technology, supplies, and equipment
- Hiring and training new employees
- Raising the pay of your current employees
- Buying new uniforms, work gear or safety equipment
Business Financing For Any Industry
Own a business in another industry? Click here
Related Questions Any Nova Scotia Business Owner Should Ask
Whether you’re talking to your lender or your financial advisor in Nova Scotia, there are certain questions related to business loans that you should be asking, such as:
Can I only get typical small business loans through Loans Canada?
- Of course not! While small business loans are available through our organization, Nova Scotia business borrowers can also get access to:
- Merchant cash advances
- Commercial mortgages
- Equipment financing
- Payment processing
- Asset-based financing
What parts of my financial profile will my lender check?
- Your lender in Nova Scotia might operate differently than others, so it’s best to prepare for all scenarios. However, they will most likely be looking at your:
- Business plan – It’s best to show up with a proper, detailed strategy for how you plan to use your loan money to earn a profit.
- Income – Don’t rely solely on your business for income! Your lender in Nova Scotia will want to know you can afford your loan payments, especially in the event that your business doesn’t see enough profit.
- Assets – An option that’s even more beneficial for borrowers in Nova Scotia with bad credit, offering assets as collateral (home, car, real estate, etc.) can help you secure a larger loan with a better interest rate.
- Co-signer’s financial health – Another option that works well for bad credit borrowers in Nova Scotia, better loan terms and rates can also be secured with the help of a financially trustworthy friend or family member.
- Credit – Checking your credit report, score, rating, and history is a large part of many lenders’ application procedures. While some lenders don’t do this, it’s best to have your credit in good shape to prior to approval.
How does having good credit help me?
- Your credit health is often examined so your lender to judge your “creditworthiness”, meaning how trustworthy you’ll be with your potential payments. Here’s why this is significant:
- Good Credit (credit score of 650 or higher) shows that you’re more likely to make full, on-schedule payments. This may help your approval for a larger loan with a reasonable interest rate.
- Bad Credit (credit score of 620 or lower) shows that you’re less likely to make responsible payments This may prevent your approval for a larger loan and earn you a less reasonable interest rate upon approval.
- Your interest rate can make a huge difference to your finances because a low rate can save you money over time, whereas a high rate can end up putting you in severe debt.
- Your payments can change your credit in different ways. Responsible payments raise your credit score, while defaulted (missed, short or late) payments will reduce it.
- Your overall credit can mean the difference between you getting approved or declined for new credit products in the future.
Check out this infographic for even more information about credit scores.
Frequently Asked Questions
How can I increase my odds of getting a business loan in Nova Scotia?
One of the main aspects lenders will evaluate you on is your personal credit score. As such, actively working on improving your score by paying your bills and reducing your credit utilization ratio will help increase your odds of approval. You can also get a co-signer or add collateral to help reduce the risk your lender takes from issuing out loans. You can also increase your chances of approval by simply applying with an alternative lender, they not only have flexible lending standards but they sometimes don’t even check your credit score.
Do I need to provide a business plan when applying for a business loan?
A business plan is typically 1- 3 pages and includes why you need the loan, how you plan to use it and how it will affect your growth. While it is not always mandatory for you to provide a business plan when applying for a business loan, it can help increase your chances of qualifying. In general, if you are a young business, the lender will ask you to provide a business plan to help determine if you are trustworthy.
Can I still get a business loan with bad credit?
If you have bad credit, you should apply for a business loan with an alternative lender. They not only have flexible lending standards in comparison to banks but they sometimes don’t even look at your credit score. In its place, they’ll evaluate your business monthly sales, debt levels, assets and other financial aspects.
Looking For Nova Scotia Business Financing?
If you’re reading this, it may mean that you’ve been searching for business financing in Nova Scotia without success so far. Don’t worry, because your search will be over when you apply with Loans Canada!
