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Business Loans Quebec

Author: Bryan Daly

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Bryan Daly

Expert Contributor at Loans Canada

Reviewed By: Caitlin Wood, BA

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Caitlin Wood, BA

Editor-in-Chief at Loans Canada

Caitlin Wood has more than a decade of experience helping Canadian consumers learn how to take control of their finances. Expertise:

• Personal finance
• Consumer borrowing
• Credit improvement
• Debt management

📅

Updated On: August 26, 2022

Business Loans Quebec - Compare Providers

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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	1694390400		$500 – $2,500	18.99%		$500 – $2,500
100	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
22	1683676800		$15,000	6.7%	Up to 60	$15,000
11	1666051200		$250	0%	–	$250
100	1643932800		$500 – $15,000	Starting at 18.9%	6 – 60	$500 – $15,000
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	1592438400		$500 – $1,500	18.99%	3 – 6	$500 – $1,500
19	1582243200		–	9.9% – 29.9%	12 – 60	–
100	1580860800		$1,500 – $10,000	–	12 – 60	$1,500 – $10,000
17	1580774400		$1,000 – $25,000	8.99% – 34.99%	36 or 60 months	$1,000 – $25,000
100	1579478400		$100 – $1,500	$14 per $100	–	$100 – $1,500
7	1579478400		Up to $20,000	19.8% – 34.99%	36 – 85 months	Up to $20,000
100	1576713600		$500 – $100,000	Starting at 12.99%	Up to 60	$500 – $100,000
100	1551830400		$100 – $1,000	$14 per $100	14 days	$100 – $1,000
100	1550534400		$3,000 – $15,000	13.99% – 34.99%	12 – 60	$3,000 – $15,000
100	1550534400		$300 – $1,000	Up to 38%	3 – 4	$300 – $1,000
100	1549411200		$100 – $1,500	$14 per $100	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
6	1543622400		Up to $60,000†	19.99% – 34.99%*	6 – 120 months	Up to $60,000†
100	1545350400		$300 – $1500	Starting at 18%	3 – 7	$300 – $1500
100	1545350400		$300 – $3,000	22% – 32%	3 – 4	$300 – $3,000
15	1545350400		$500 – $1000	Up to 32%	3	$500 – $1000
100	1545350400		$300 – $3,000	27% – 35%	90 – 120 days	$300 – $3,000
5	1545264000		$500 – $150,000	9.99% – 34.99%	9 - 240	$500 – $150,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
4	1714089600		$10,000 – $20,000,000	–	–	$10,000 – $20,000,000
3	1714089600		$10,000 – $2,000,000	10%+	Up to 36	$10,000 – $2,000,000
5	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		–	–	–	–
100	1598918400		–	–	–	–
100	1592438400		–	–	–	–
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
2	1580256000		$5,000 – $800,000	–	6 – 24	$5,000 – $800,000
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	1575590400		–	–	–	–
100	1575590400		–	–	–	–
1	1545955200		$1,000 – $300,000	–	12 – 120	$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		–	–	–	–
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		-	–	Up to 84	-
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		$10,000 – $300,000	–	–	$10,000 – $300,000
8	1545350400		$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
7	1545177600		$5,000 – $500,000	4.96% – 24.93%	1 – 60	$5,000 – $500,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1749600000		–	–	Up to 96 months	–
19	1582243200		–	–	Up to 60 months	–
6	1543622400		Up to $60,000†	19.99% – 34.99%*	6 – 120 months	Up to $60,000†
5	1545264000		$500 – $150,000	9.99% – 34.99%	9 - 240	$500 – $150,000
100	1620345600		–	–	Up to 96 months	–
8	1624233600		$5,000 – $75,000	–	12 – 96	$5,000 – $75,000
100	1600646400		$1,000 – $35,000	12.99% – 29.99%	12 – 84	$1,000 – $35,000
100	1581033600		–	–	–	–
100	1579478400		–	–	–	–
100	1579478400		–	–	–	–
100	1579478400		–	–	–	–
100	1578873600		–	Starting at 10.99%	–	–
100	1578873600		–	–	–	–
100	1551830400		-	–	12 – 96 months	-
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 months	$10,000+
100	1551830400		Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
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	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	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
100	1731542400		$15,000 – $1,000,000	Starts at 12%	Up to 36	$15,000 – $1,000,000
5	1700524800		–	-	-	–
100	1695945600		–	–	–	–
2	1688601600		Min $110,000	4.14% – 6.29%	24– 120	Min $110,000
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	1579478400		–	4.54% – 7.49%	6 – 120	–
100	1578873600		–	–	–	–
100	1577059200		–	Varies	–	–
100	1577059200		–	–	–	–
100	1577059200		–	4.49% – 6.63%	1 – 10 years	–
100	1574985600		$10,000 – $1,000,000	4.99% – 7.29%	12 – 120	$10,000 – $1,000,000
100	1574899200		–	–	12 – 60	–
100	1574899200		–	4.24% – 6.30%	–	–
100	1560124800		–	4.64% – 5.80%	1 – 10 years	–

		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		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

Establishing, expanding or otherwise improving your business? No problem! Loans Canada is here to set you up with the best sources of business loans in Quebec. No matter what type of industry your business is based around, rest assured that there’s a loan for you.

How Can I Use My Business Loan In Quebec?

Excellent question! You can use your new loan in just about in any area of your Quebec business, including but definitely not limited to:

• Buying equipment of almost any kind
• Buying upgraded versions of your equipment after your current supplies break
• Switching locations or expanding your business with secondary locations
• Financing any additions, renovations or repairs your locations require
• Creating or maintaining an online service for sales and distribution purposes
• Compensating all your employees
• Buying staff uniforms
• Paying for advertising (pamphlets, billboards, television segments, etc.)
• Financing the cost of any company vehicles (purchase, maintenance, fuel, etc.)

Applying For a Business Loan In Quebec

How can I find the right lender?

• Before you apply anywhere, make sure to do lots of research. There are many lenders all over Quebec that offer business financing of all kinds. Some offer different services, payment rates, loan schedules, etc. Comparing lenders in Canada? Read this first.

What does my lender need to look at when I apply?

• Your lender needs to know, first and foremost, that you can pay them back in full, including any interest and extra fees involved. For that reason, they’re likely to look at the strength of your:
  • Income and employment history (to see if you can afford your payments)
  • Debt and payment history (to see if you already owe money to other lenders and how efficiently you’ve been paying your bills
  • Credit report, credit score, credit rating and credit history (to see how you’re handling your other credit products)
  • The value of your assets/collateral, if any (securing the loan against your home, car or other property is optional, but may help you earn approval and a lower interest rate
  • The financial strength of your co-signer, if any (another optional tactic for approval and interest rate savings is to have someone with good finances/credit to co-sign your loan)
  • Your business plan (to know how you will invest your business loan and how much profit you’re expecting to make)

Why do lenders examine my credit?

• Your lender might request a copy of your credit report from one of Canada’s main credit bureaus (Equifax and TransUnion). Your report contains a record of all your actions as a credit user over several years. They do this because they want to check your:
  • Personal Profile (This simply helps them confirm your Quebec residency, social insurance number, citizenship, etc.).
  • Credit Score (This 3-digit number, ranging from 300-900, gives them a basic idea of how responsible you’ve been as a credit user).
  • Credit Rating (When you use credit with other lenders, they’ll give you a rating based on your payment activity. A good rating usually means you’re trustworthy with credit).
  • Credit History (Most of your credit transactions stay in your history for a number of years, letting your lender know how you’ve handled your credit in the past, present and potentially in the future).

Does it matter what my credit score is?

• Generally speaking, yes. While some lenders don’t check your credit as part of their application procedure, business loans in Quebec can be relatively large, so they’ll want to confirm that you’ve been and will likely continue to be a responsible credit user.
  • A score of 650 or above means you have “good credit”, meaning you should receive better approval chances and interest rates.
  • A score of 620 or less means you have “bad credit”, meaning you could receive worse approval chances and interest rates.

Click here to discover some ways of fixing or improving your credit score.

Alternative Business Financing Options

Small business loans in Quebec aren’t the only business financing options available through Loans Canada. In fact, when you apply, you can also gain access to:

• Merchant cash advances
• Commercial mortgages
• Equipment financing
• Asset-based financing

Frequently Asked Questions

Quebec Business Owners, Loans Canada is Here

If you’re living in Quebec and you’re looking to do right by your business, you can do just that when you apply with us! Simply click the link below and you’ll only be minutes away from the right business financing for your industry needs.