Business Loans Charlottetown

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		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1709683200		Up to $1,250	Up to 32%	90 – 150 days	Up to $1,250
23	1700524800		Up to $25,000	24.99% – 29.99%	30 or 60	Up to $25,000
15	1695254400		$500 – $5,000	Up to 32%	3 – 4	$500 – $5,000
3	1692748800		Up to $350	0%	Up to 65 days	Up to $350
8	1688083200		$150 – $1,600	10 – 35%	3 – 6	$150 – $1,600
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
6	1683676800		$15,000	6.7%	Up to 60	$15,000
7	1666051200		$250	0%	–	$250
100	1643932800		$500 – $15,000	Starting at 18.9%	6 – 60	$500 – $15,000
100	1623369600		Varies	0%	6 or 8 weeks	Varies
2	1620777600		Up to $35,000	9.99% – 35%	6 – 60	Up to $35,000
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1600646400		$1,000 – $35,000	12.99% – 29.99%	12 – 84	$1,000 – $35,000
100	1598918400		Up to $15,000	–	–	Up to $15,000
100	1598832000		$500 – $15,000	Start at 10.99%	9 – 60	$500 – $15,000
100	1582243200		–	–	Up to 60	–
100	1580860800		$1,500 – $10,000	–	12 – 60	$1,500 – $10,000
16	1580774400		$1,000 – $25,000	8.99% – 34.99%	36 or 60	$1,000 – $25,000
100	1579478400		$100 – $1,500	–	–	$100 – $1,500
100	1579478400		$850 – $1,600	29.78% – 34.95%	36 months	$850 – $1,600
18	1576713600		$500 – $100,000	Starting at 12.99%	Up to 60	$500 – $100,000
100	1562198400		$500 – $15,000	15.99 – 35%	6 – 60	$500 – $15,000
19	1552262400		$1,000 – $15,000	29.9% or 34.28%	6 – 60	$1,000 – $15,000
100	1551830400		$100 – $1,000	$14 per $100 borrowed	14 days	$100 – $1,000
100	1551830400		$1,000 – $15,000	19% – 34.95%	12 – 60	$1,000 – $15,000
15	1551139200		Up to $15,000	34.99%	Open-end	Up to $15,000
100	1569974400		Up to $1,500	$14 per $100 borrowed	Up to 62 days	Up to $1,500
100	1550534400		Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1550534400		$500 – $1,000	23%	3 – 6	$500 – $1,000
100	1550534400		$300 – $1,000	Up to 38%	3 – 4	$300 – $1,000
100	1549411200		$100 – $1,500	$14 per $100 borrowed	14 days	$100 – $1,500
100	1567555200		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1549238400		$250 – $1,500	23.99% – 29.99%	3 – 4	$250 – $1,500
20	1548720000		$500 – $1,000,000	7.9%	12	$500 – $1,000,000
100	1548720000		$500 – $50,000	Starting at 8.99%	3 – 120	$500 – $50,000
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000
2	1543622400		Up to $60,000	19.99% – 34.99%	6 – 120	Up to $60,000
100	1545350400		$300 – $1500	Starting at 18%	3 – 7	$300 – $1500
5	1545350400		$500 – $1000	Up to 32%	3	$500 – $1000
100	1545350400		$500 – $750	23%	3 – 4	$500 – $750
100	1545350400		$500 – $750	22%	90 – 120 days	$500 – $750
100	1545350400		$300 – $3,000	27% – 35%	90 – 120 days	$300 – $3,000
4	1545264000		$500 – $100,000	29.99% – 35%	9 – 84	$500 – $100,000
3	1545264000		Up to $5,000	9.9% – 35%	–	Up to $5,000
10	1545177600		Up to $35,000	Starting at 12.99%	Up to 60	Up to $35,000
18	1545177600		$100 – $20,000	Up to 35%	Up to 60	$100 – $20,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
3	1725321600		Up to $40,000	$0.75 per $1,000 per day	–	Up to $40,000
8	1714089600		$10,000 – $20,000,000	–	–	$10,000 – $20,000,000
7	1714089600		$10,000 – $2,000,000	10%+	Up to 36	$10,000 – $2,000,000
2	1669852800		$10,000 – $300,000	–	3 – 24	$10,000 – $300,000
100	1648512000		$1000 - $250,000	–	–	$1000 - $250,000
100	1620345600		–	–	12 – 60	–
100	1611878400		–	–	–	–
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1598918400		–	–	–	–
100	1585612800		–	–	6 – 60	–
100	1580947200		$200,000 – $5,000,000	–	–	$200,000 – $5,000,000
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580860800		$5,000 – $1,000,000	–	–	$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	Up to $10,000
100	1580256000		$5,000 – $800,000	–	6 – 24	$5,000 – $800,000
100	1579478400		$10,000 – $30,000,000	–	–	$10,000 – $30,000,000
100	1579478400		$50,000 – $5,000,000	–	3 – 36	$50,000 – $5,000,000
100	1579478400		–	–	24 – 60	–
100	1579478400		–	–	–	–
100	1579478400		Up to $1,200,000	–	12 – 84	Up to $1,200,000
100	1579046400		–	–	–	–
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1575849600		$5,000 – $150,000	Starting 15%	6 – 24	$5,000 – $150,000
100	1575849600		Up to $250,000	–	–	Up to $250,000
100	1575590400		–	–	–	–
100	1575590400		–	–	–	–
1	1545955200		$1,000 – $300,000	5.49% – 22.79%	12 – 60	$1,000 – $300,000
100	1552262400		Up to $250,000	–	Up to 10 years	Up to $250,000
100	1552262400		Up to $1,000,000	–	–	Up to $1,000,000
100	1551830400		$10,000+	–	Up to 15 years	$10,000+
100	1551830400		Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1551830400		Up to $500,000	–	Up to 15 years	Up to $500,000
100	1551830400		Starting at $5,000	–	Up to 84	Starting at $5,000
100	1551398400		$3,500+	–	–	$3,500+
100	1551398400		$10,000 – $1,000,000	4% – 14%	12 – 84	$10,000 – $1,000,000
100	1551139200		Up to $250,000	–	Up to 48	Up to $250,000
100	1550534400		$500 – $50,000	2.75% – 8.25%	12 week cycles	$500 – $50,000
100	1550534400		$1,000 – $1,000,000	6% – 20%	–	$1,000 – $1,000,000
100	1550534400		Up to $5,000,000	–	24 – 72	Up to $5,000,000
100	1550534400		$5,000 – $200,000	–	–	$5,000 – $200,000
100	1549411200		$50,000 – $12,000,000	–	24 – 96	$50,000 – $12,000,000
100	1548720000		Up to $100,000	–	–	Up to $100,000
100	1548720000		$10,000 – $300,000	–	–	$10,000 – $300,000
100	1545264000		Up to $250,000	–	3 – 24	Up to $250,000
6	1545350400		$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
5	1545177600		$5,000 – $300,000	9% – 35%	Varies by product	$5,000 – $300,000
4	1545177600		$5,000 – $500,000	4.96% – 24.93%	1 – 60	$5,000 – $500,000
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
2	1679529600		Varies	Varies	24 – 96 months	Varies
3	1632960000		Min. $10,000	6.93% – 19.99%	18 – 96	Min. $10,000
8	1624233600		$5,000 – $75,000	–	12 – 96	$5,000 – $75,000
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1600646400		$1,000 – $35,000	12.99% – 29.99%	12 – 84	$1,000 – $35,000
6	1597104000		–	–	–	–
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	–	–	Starting at $5,000
100	1552262400		Up to $1,000,000	–	up to 96	Up to $1,000,000
100	1551830400		–	–	6 – 96	–
100	1551830400		$10,000+	–	12 – 96	$10,000+
100	1551830400		Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1575849600		–	–	–	–
100	1575849600		$5,000 – $45,000	4.90 % – 29.95%	–	$5,000 – $45,000
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	Up to $100,000
100	1551830400		–	–	–	–
100	1548633600		–	Starting at 4.2%	–	–
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000
100	1545177600		–	–	12 – 84	–

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1578873600		Up to $50,000	–	24 – 60	Up to $50,000
100	1545264000		Up to $50,000	–	–	Up to $50,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		N/A	N/A	N/A	N/A
3	1726531200		$5,000 +	6% – 16%	12 – 60	$5,000 +
5	1700524800		–	-	-	–
4	1690934400		–	–	–	–
2	1688601600		Min $110,000	4.14% – 6.29%	24– 120	Min $110,000
3	1679616000		$100,000 – $2,000,000	Varies	12 – 60	$100,000 – $2,000,000
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	$50,000+
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	–
1	1517097600		$10,000 – $500,000	Starting at 10%	–	$10,000 – $500,000

		Provider	Services	Rating
0	0		Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer)
100	1576540800		Credit Counselling, Bankruptcy, Consumer Proposal
100	1576540800		Credit Counselling, Debt Management Program
100	1576368000		Credit Counselling, Debt Management Program

Let’s say you have a great idea for a business, are passionate about it, and believe that there is demand for what you have to offer. All you have to do is develop a sound business plan to make it all come to fruition, right? But how do you start – and even grow – a business without much money?

We’ve all heard the adage, “It takes money to make money,” but what if you don’t have the funds in your bank account to get your business off the ground let along grow it?

That’s where a business loan can help. Keep reading to find out what you need to know about business loans in Charlottetown.

How to Use a Business Loan in Charlottetown

No matter what stage you’re at with your business, a business loan can help finance whatever your needs are. Here are just a few ways that business loans can help.

• Starting your business – If you’re just starting out, a business loan can give you the money needed to lease a place, buy equipment, pay employees, and cover marketing costs.
• Expanding your business – If your business has already started and is successful, you might have plans to expand it. This, of course, requires money, which you can obtain from a business loan in Charlottetown.
• Hiring more employees – Most businesses require hired help to make it possible to continue providing their products and services to customers. But employees need to be paid. If you’re short on cash flow one month, business financing may be able to help cover these necessary costs.
• Advertising – You need to get the word out there that your business exists, but marketing can be really expensive. A business loan can provide you with the money required to spread the word about your business.
• Upgrade equipment – Just about every business requires some amount of equipment, no matter how much or how little. But even if you have the equipment and tools you need to run your business, they can become worn out or even obsolete over time. When it comes time to have to replace them with newer models, a business loan can prove to be very helpful.
• Move to a new location – If you need more space or are looking for a unit that is better equipped to run your business, a business loan can help provide you with the extra funds needed to make this happen.
• Open a second location – If your business is expanding, you may have considered opening a second location. Again, this takes some funding to make happen, which is what a business loan can help with.
• Start an e-commerce store – You don’t just have to have a brick and mortar store to be successful. You can really expand your business by opening up an e-commerce site, and a business loan can provide you with the funds needed to start it.

The ways in which a business loan can help are seemingly endless. Whatever your particular financial needs are related to your business, a business loan will likely be able to help.

How to Apply For a Business Loan

To get approved for a business loan in Charlottetown, you’ll need to meet a few criteria. You’ll want to make sure that you’re in a strong financial position to apply for a business loan in order to maximize your chances of approval. When applying for a business loan, consider doing the following:

• Find out what your credit score is. If your business is relatively new, your personal credit score and history will be assessed. Ideally, your score should be at least 680 in order to boost the odds of loan approval. If your score is any lower than that, you’ll need to take steps to improve it before applying for a loan.
• Pull your credit report. You can obtain a copy of your credit report for free from either Equifax and TransUnion, the two major credit bureaus in Canada. Looking over your credit report will help you determine what is shaping your credit score. It will also give you the chance to check for any mistakes that could be pulling your credit score down.
• Have any errors on your credit report fixed. If you discover mistakes on your credit report, it’s imperative that you report them right away so that they can be investigated and fixed. Any mistakes can unfairly cause your credit score to dip, which could impact your ability to secure a loan.
• Shop around with lenders. You could always head over to your local bank to get a business loan in Charlottetown. But there are plenty of lenders out there who offer these types of loans. You never know if there’s a better product out there if you just automatically settle for the first lender without comparison shopping.
• Get a business plan together. Don’t approach a lender for a business loan if you haven’t put together a business plan first. Lenders will want to know exactly how much money is required for your particular needs and what the money will be going towards. There’s no sense in applying for a large loan amount when you really only need a fraction of it. A sound business plan will outline in great detail what you need for your business to grow, your anticipated growth, your experience in the industry, what type of market your business serves, and a statement of collateral.

Read this if you’re a female business owner or entrepreneur.

Types of Industries That Business Loans Can Help

There are so many different types of industries that a business loan can serve, including, but not limited to, the following:

• Trades
• Transportation
• Industrial
• Farming
• Service
• Hospitality
• Restaurant
• Medical

These are only examples, as there are plenty of other industries that people run businesses in and require business loans for.

Types of Business Financing Available

Business loans in Charlottetown come in different variations to suit the exact needs of Canadian business owners. Here are a few different types of business financing options available to you:

• Small business loans – Get a lump sum of money to be put toward starting your new business.
• Merchant cash advances – If customers pay with credit cards, you can use your future credit card receivables to get an advance in funds.
• Commercial mortgages – To make funding a move into a new commercial unit possible, a commercial mortgage may help.
• Equipment loans – An equipment loan uses the equipment itself as collateral while helping you finance equipment purchases needed for your business.
• Asset-based financing – Leverage your commercial assets to secure an affordable loan.

If you’re interested in any of these business loans or financing services, check out this page.

Looking For Financial Assistance to Grow Your Business?

Running a business based on your passions or experiences is a great way to earn a living and provide value to your customers. But starting and running a business takes money, which many business owners might not have. A business loan in Charlottetown can provide you with the funds you need to grow your business. Call Loans Canada today to help you find and choose the right business financing option for your situation.