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Business Loans Ontario - Compare Providers
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Spring Financial Personal Loan | $500 – $35,000 | 9.99% – 34.95% | 6 – 84 months | Learn more |
 LendDirect Personal Line of Credit | Up to $10,000 | 34.99% | Not listed | Learn more |
 Mogo Finance Line of Credit | Up to $5,000 | 34.37% | Not listed | Learn more |
 easyfinancial Personal Loan (Unsecured) | $500 – $150,000 | 9.99% – 34.95% | 9 - 240 months | Learn more |
 Fairstone Financial Unsecured Personal Loan | Up to $50,000† | 19.99% – 34.99%* | 6 – 120 months | Learn more |
 MDG Cash Installment Loan | Up to $20,000 | 19.8% – 34.99% | 36 – 85 months | Learn more |
 Fora Line Of Credit | $1,000 – $15,000 | 19.9% – 34.9% | Not listed | Learn more |
 Money Mart Installment Loan | $500 – $25,000 | 29.9% or 34.28% | 6 – 84 months | Learn more |
 SkyCap Financial Personal Loan | $500 – $100,000 | 12.99% – 34.99% | 9 – 60 months | Learn more |
 Cashco Financial Personal Loan – Flex Loan | Up to $9,000 | 35% | 6 – 60 months | Learn more |
 Magical Credit Magical Installment Loans | up to $20,000 | 19.99% – 35% | 12 - 60 months | Learn more |
 LoanMeNow Personal Loan | $500 – $1000 | Up to 32% | 3 months | Learn more |
 Green Loans Personal Loan | Up to $1,000 | Up to 35% | Not listed | Learn more |
 AimFinance Personal Loan | $100 – $1,000 | 29% – 35% | 9 – 24 months | Learn more |
 goPeer Personal Loan | $1,000 – $35,000 | 8.99% – 34.99% | 36 or 60 months | Learn more |
 GoLoans Installment Loan | $500 – $5,000 | Up to 32% | 3 – 4 months | Learn more |
 LendCare Installment Loan | $500 – $15,000 | 9.9% – 29.9% | 12 – 60 months | Learn more |
 Ledn Bitcoin-Backed Loan | $1,000 – $1,000,000 | 10.4% | 12 months | Learn more |
 Borrowell Personal Loan | Up to $35,000 | Starting at 12.99% | Up to 60 months | Learn more |
 Windmill Microlending Professional development loans | $15,000 | 6.7% | Up to 60 months | Learn more |
 Parachute Personal Loan | Up to $25,000 | 24.99% – 29.99% | 30 or 60 months | Learn more |
 Helium Loans Personal Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 Fast Access Financial Personal Loan | $1,000 – $5,000 | Starting at 9.90% | 12 – 36 months | Learn more |
 514 Loans Personal Loan | $300 – $3000 | 22% – 32% | 3 – 4 months | Learn more |
 Credit Club Short Term Loan | $100 – $1,500 | $14 per $100 | Up to 62 days | Learn more |
 DMO Crédit Personal Loan | $300 – $1,000 | 28% – 35% | 90 days – 16 weeks | Learn more |
 Loan & Go Micro Loan | $250 – $1,250 | 29% – 32% | 3 – 6 months | Learn more |
 Prudent Financial Services Equity Personal Loan | up to $100,000 | 5.75% – 9.9% | Not listed | Learn more |
 Cash Depot Short-Term Loan | $300 – $3000 | 18% + fees | 6 months | Learn more |
 Financeit Personal Loans | $500 – $100,000 | Starting at 12.99% | Up to 60 months | Learn more |
 SimplyBorrowed Personal Installment Loan | $1,500 – $10,000 | Not listed | 12 – 60 months | Learn more |
 LM Credit Unsecured Personal Loan | $500 – $15,000 | 10.99% – 34.99% | 9 – 60 months | Learn more |
 Dashloans Personal Loan | Up to $1,250 | Up to 32% | 90 – 150 days | Learn more |
 Lamina Personal Loan | $300 – $1500 | Starting at 18% | 3 – 7 months | Learn more |
 Cash 4 You Installment Loan | $500 – $20,000 | Up to 34.37% APR | 6 – 84 months | Learn more |
 Eastern Loans Personal Loan | $500 – $750 | ~23% | 3+ months | Learn more |
 Captain Cash Personal Loan | $500 – $1000 | 23% | 90 – 150 days | Learn more |
 Loan Away Personal Loan | Up to $5,000 | 19.9% – 35% | 6 – 36 months | Learn more |
 Credit2Go Short Term Loan | $250 – $1,500 | 23.99% – 29.99% | 3 – 4 months | Learn more |
 Progressa Debt Consolidation Loan | $1,000 – $15,000 | 19% – 34.95% | 12 – 60 months | Learn more |
 LM Financial Personal Loan | Up to $15,000 | Not listed | Not listed | Learn more |
 Iceberg Finance Personal Loans | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 months | Learn more |
 Afterpay Buy Now Pay Later | Varies | 0% | 6 or 8 weeks | Learn more |
 FlexMoney Installment Loan | $500 – $15,000 | Starting at 18.9% | 6 – 60 months | Learn more |
 Deposit My Cash Now Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 My Next Pay Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 Northstar Brokers Micro Loan | $300 – $3000 (first-time clients can receive up to $1,000) | 18% + fees | 6 months | Learn more |
 City Lending Centers (CLC) Micro Loan | $150 – $1,600 | 10 – 35% | 3 – 6 months | Learn more |
 Alterfina Cash Advance | $500 – $2,500 | 18.99% | Not listed | Learn more |
 APX Lending Crypto-Backed Loan | $10,000; no maximums | Not listed | 3 - 60 months | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 iCash Payday Loan | Up to $1,500 | $14 per $100 | Up to 62 days | Learn more |
 CashMoney Payday Loan | Up to $10,000 | Up to 34.99% | Up to 60 months | Learn more |
| Magical Credit Payday Loans | up to $20,000 | 19.99% – 35% | 12 - 60 months | Learn more |
 Lenditt Payday Loan | $250 - $1,500 | $14 per $100 | Up to 62 days | Learn more |
 Wagepay Payday Loan | $100 – $1500 | $8 per $100 + 24% | Up to 62 days | Learn more |
 Mr. Payday Payday Loan | $100 – $1,500 | $14 per $100 | 14 – 31 days | Learn more |
 My Canada Payday Payday Loan | Up to $1,500 | $14 per $100 | Next payday, or the one after | Learn more |
 North’n Loans Payday Loans | $100 – $1,500 | $14 per $100 | Not listed | Learn more |
 Pay2Day Payday Loan | Up to $1,500 | $14 per $100 | Next payday, 42 days in Alberta | Learn more |
 GoDay Payday Loan | $100 – $1,500 | $14 per $100 | Next pay date, 14 – 30 days | Learn more |
 Loan Express Payday Loan | up to $1,500 | $14 per $100 | 14 days | Learn more |
 Focus Financial Inc. Payday Loan | $100 – $1,500 | $14 per $100 | Next payday | Learn more |
 Instant Payday Canada Payday Loan | Up to $1,500 | $14 per $100 | Up to 30 days | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
| Spring Financial Spark Loan | $100 – $2,500 | 28.9% (about 29.9% APR with the $1 access fee) May decrease as you unlock higher loan amounts | 12 months | Learn more |
 Bree Cash Advance | Up to $750 | 0% | Up to 90 days | Learn more |
 Nyble Line Of Credit | $30 – $250 | 0% | Not listed | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Canada Drives Car Loan | Up to $100,000 | 3.99% - 19.9% | 24 -96 months | Learn more |
 Clutch Car Loan | Varies | Varies | 24 – 96 months | Learn more |
 SafeLend Auto Loan Refinance | Min $10,000 | 6.93% – 19.99% | 18 – 96 months | Learn more |
| easyfinancial Car Loan | $500 – $150,000 | 9.99% – 34.95% | 9 - 240 months | Learn more |
 Car Loans Canada Car Loan | Not listed | Up to 29.99% | 12 – 96 months | Learn more |
 Eden Park Car Loan | Not listed | Not listed | Not listed | Learn more |
| Fairstone Financial Car Loan | Up to $50,000† | 19.99% – 34.99%* | 6 – 120 months | Learn more |
 Wippy Repair Loan | $500 – $10,000 | Starting at 0% | 3 – 48 months | Learn more |
 Auto Credit Deals Car Loan | $5,000 – $75,000 | Not listed | 12 – 96 months | Learn more |
| LendCare Car Loan | Up to $50,000 | Not listed | Up to 60 months | Learn more |
| Helium Loans Auto Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 Carloans411 Auto Loan | Not listed | Not listed | 12 – 84 months | Learn more |
 2nd Chance Automotive Car Loan | Not listed | Starting at 4.2% | Not listed | Learn more |
 Dixie Auto Loans Car Loan | Not listed | Not listed | Not listed | Learn more |
| Prudent Financial Services Equity Car Loan | Up to $50,000 | Not listed | 6 – 48 months | Learn more |
 Prefera Finance Recreational Vehicle Loan | Not listed | Not listed | Not listed | Learn more |
 Royal Bank of Canada (RBC) Auto Loan | Starting $7,500 | Not listed | 12 – 96 months | Learn more |
| Min $7,500 | Not listed | 12 – 96 months | Learn more | |
 Desjardins Auto Loan | $7,500 + | Not listed | 6 – 96 months | Learn more |
 Auto Capital Canada Car Loan | Not listed | Not listed | Not listed | Learn more |
 Canada Auto Finance Auto Loans | $5,000 – $45,000 | 4.90 % – 29.95% | Not listed | Learn more |
 Coast Capital Savings Car Loans | Not listed | Not listed | Not listed | Learn more |
 National Powersports Financing Vehicle Financing | Not listed | Not listed | Not listed | Learn more |
 Rifco Auto Loan | Not listed | Starting at 12.9% | Not listed | Learn more |
 National Bank Auto Loan | Not listed | Not listed | up to 96 months | Learn more |
 Scotiabank Auto Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
 Credit River Capital Inc Auto Loan | Not listed | Not listed | Not listed | Learn more |
 DealerPlan Financial Auto Loans | Not listed | Not listed | Not listed | Learn more |
 iA Auto Finance Auto Loan | Not listed | Starting at 10.99% | Not listed | Learn more |
 Leisure Trailer Sales RV Trailer Loan | Not listed | Not listed | Not listed | Learn more |
 Loans2Go Auto Loan | Not listed | Not listed | Not listed | Learn more |
 LMG Finance Auto Loan | Not listed | Not listed | Not listed | Learn more |
 Toyloan Auto Loan | Not listed | Not listed | Not listed | Learn more |
 Auto Loan Solutions Car Loan | Not listed | Up to 29.5% | Not listed | Learn more |
 Go Auto Car Loans | Not listed | Not listed | 36 – 96 months | Learn more |
| Iceberg Finance Auto Financing | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 months | Learn more |
 TD Bank Car Loan | Up to $50,000 | Not listed | Up to 96 months | Learn more |
 Fix4 Capital Car Repair Financing | $250 – $10,000 | Starting at 14.99% | 12 – 36 months | Learn more |
 Santander Car Loan | Not listed | Not listed | Up to 96 months | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 Alpine Credits Home Equity Loan | $10,000 – $500,000 | Starting at 10% | Not listed | Learn more |
| Spring Financial Mortgages | Borrow up to 80% of your home's value | Rates shopped across 40+ banks and lenders Usually no broker fee; any fee is disclosed before you sign | Not listed | Learn more |
 nesto Mortgage Loans | Min $110,000 | 4.14% – 6.29% | 24– 120 months | Learn more |
 Frank Mortgage Mortgage Loans | $100,000 – $2,000,000 | Varies | 12 – 60 months | Learn more |
 Lotly Home Equity Loan | $5,000 + | 6% – 16% | 12 – 60 months | Learn more |
 Meridian Credit Union Mortgage | Not listed | 4.19% – 8.00% | 6 – 120 months | Learn more |
 Neo Mortgage Neo Mortgage™ | Not listed | Not listed | Not listed | Learn more |
 Blue Pearl Mortgage Mortgage | Not listed | Not listed | Not listed | Learn more |
 Capital Direct Home Equity Loan | $10,000 – $3,000,000 | Varies | 12 – 24 months | Learn more |
| Prudent Financial Services Home Equity Loan | Up to $500,000 | Starts at 8.49% | Not listed | Learn more |
 Dominion Lending Center Mortgage | Not listed | Not listed | Not listed | Learn more |
 Manzil Mortgage | Not listed | Not listed | Not listed | Learn more |
 Mortgage Architects Mortgage | Not listed | 4.54% – 7.49% | 6 – 120 months | Learn more |
 Northwood Mortgage Mortgage | Not listed | 4.19% – 6.04% | 12 – 120 months | Learn more |
 Mortgage Alliance Mortgage | Not listed | 4.19% – 6.04% | 12 – 120 months | Learn more |
 First National Financial LP Residential Mortgage | Not listed | 4.49% – 6.63% | 1 – 10 years | Learn more |
 CanWise Mortgages | Not listed | 4.24% – 6.30% | Not listed | Learn more |
 CHIP Reverse Mortgage Reverse Mortgage | Not listed | Not listed | 12 – 60 months | Learn more |
 Equitable Bank Reverse Mortgage | Not listed | Varies | Not listed | Learn more |
 Matrix Mortgage Global Mortgage | Not listed | Not listed | Not listed | Learn more |
 Think Financial Mortgage | Not listed | Not listed | Not listed | Learn more |
 Tangerine Mortgage | $50,000+ | Not listed | 12 – 120 months | Learn more |
 True North Mortgage Mortgage | $150,000 – $1,500,000 | 2.99% – 5.49% | 6 – 60 months | Learn more |
 Verico Mortgage | Not listed | Not listed | Not listed | Learn more |
 Peoples Bank Mortgages | Not listed | 4.50% – 5.97% | 12 – 60 months | Learn more |
 Mortgage Intelligence Mortgage | Not listed | Not listed | Not listed | Learn more |
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| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 SharpShooter Funding Business Loan | $1,000 – $300,000 | Not listed | 12 – 120 months | Learn more |
 Merchant Growth Term Financing | $5,000 – $800,000 | Not listed | 6 – 24 months | Learn more |
 OnTap Capital Business Financing | $10,000 – $2,000,000 | 10%+ | Up to 36 months | Learn more |
 Primed Loans Business Financing | $10,000 – $20,000,000 | Not listed | Not listed | Learn more |
 Bizcap Working Capital | Up to 2 million | Not listed | Flexible | Learn more |
 Driven Business Loan | $10,000 – $300,000 | Not listed | 3 – 24 months | Learn more |
 Journey Capital Business Term Loan | $5,000 – $300,000 | 9% – 35% | Varies by product | Learn more |
 Lending Loop Small Business Loan | $ 1,000 – $500,000 | 4.96% – 24.93% | 1 – 60 months | Learn more |
 IOU Financial Term Loan | $15,000 – $1,500,000 | Not listed | 6 – 36 months | Learn more |
 iCommission Commission Advance | Up to $40,000 | $0.75 per $1,000 per day | Not listed | Learn more |
| Magical Credit Merchant Cash Advance | up to $20,000 | 19.99% – 35% | 12 - 60 months | Learn more |
| Helium Loans Business Term Loan | $500 – $50,000 | Varies | 6 – 60 months | Learn more |
 iCapital Commercial Loan | Up to $250,000 | Not listed | 3 – 24 months | Learn more |
 Canadian Equipment Finance Equipment Loan | $50,000 – $12,000,000 | Not listed | 24 – 96 months | Learn more |
 Easylease Corp Equipment Loan | Up to $5,000,000 | Not listed | 24 – 72 months | Learn more |
 Econolease Financial Services Inc. Equipment Leasing | $1,000 – $1,000,000 | 6% – 20% | Not listed | Learn more |
 FundThrough Invoice Financing | $500 – $50,000 | 2.75% – 8.25% | 12 week cycles | Learn more |
 Lease Link Working Capital Loan | Up to $250,000 | Not listed | Up to 48 months | Learn more |
 Money in Motion Equipment Loan | $10,000 – $1,000,000 | 4% – 14% | 12 – 84 months | Learn more |
 Money Line Capital Equipment Financing | $5,000+ | 4.9% – 24.99% | 18 – 48 months | Learn more |
| Royal Bank of Canada (RBC) Business Loan | Starting at $5,000 | Not listed | Up to 84 months | Learn more |
 Canadian Imperial Bank of Commerce (CIBC) Business Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
| Desjardins Business Loan | Up to $100,000 | Not listed | Not listed | Learn more |
 DUCA Credit Union Business Loan | Not listed | Not listed | Not listed | Learn more |
 PACE Credit Union Business Loan | Not listed | Not listed | Not listed | Learn more |
 BarterPay Barter Loan | BP 2,500 – BP 100,000 | Not listed | 6 – 60 months | Learn more |
| National Bank Business Loan | Up to $1,000,000 | Not listed | Not listed | Learn more |
 B2B Bank Investment Loan | $10,000 – $300,000 | Not listed | Not listed | Learn more |
 Bank of Montreal (BMO) Business Loan | Up to $500,000 | Not listed | Up to 15 years | Learn more |
 BDC Business Loan | Up to $100,000 | Not listed | Not listed | Learn more |
| Scotiabank Business Loan | Up to $1,000,000 | Not listed | Up to 15 years | Learn more |
 CanaCap Merchant Cash Advance | Up to $250,000 | Not listed | Not listed | Learn more |
 Laurentian Bank of Canada Business Loan | Up to $250,000 | Not listed | Up to 10 years | Learn more |
 Essex Lease Financial Corporation Equipment Loan | Not listed | Not listed | Not listed | Learn more |
 Export Development Canada Commercial Financing | Not listed | Not listed | Not listed | Learn more |
 Leaseline Equipment Leasing | Not listed | Not listed | 24 – 60 months | Learn more |
 Peel Financial Equipment Loans | Not listed | Not listed | Not listed | Learn more |
 Core Capital Group Inc Equipment Financing | Not listed | Not listed | Not listed | Learn more |
 Loop Business Line of Credit | Not listed | Not listed | Not listed | Learn more |
 Accelerated Payments Invoice Financing | Not listed | Not listed | Not listed | Learn more |
| TD Bank Business Loan | Not listed | Not listed | 12 – 60 months | Learn more |
 2M7 Financial Solutions Merchant Cash Advance | $1000 – $250,000 | Not listed | Not listed | Learn more |
 Advance Funds Network Business Term Loans | $10,000 - $1,000,000 | 12% + | 3 - 24 months | Learn more |
| Lender | Loan amount | Rate | Term | Details |
|---|---|---|---|---|
 BHM Financial Title Loan | Up to $50,000 | Not listed | Not listed | Learn more |
Rates last checked: October 2026
For Ontario citizens, a solid business loan might be the best thing for yourself and your trade. That’s right, starting, maintaining and expanding your business in Ontario takes a lot of time, effort, and of course, funding. Here are just some of the business actions you can take when you’re backed by solid financing:
- Start and supply your online business
- Purchase office furniture, supplies, and equipment
- Purchase other types of equipment and machinery
- Pay your current employees or take on new staff
- Purchase vehicles for transportation, delivery or convenience purposes
- Pay for advertising, merchandise, marketing strategies, etc.
- Make renovations or expansions to your current place of business
- Mortgage, purchase or renovate a second business location
Frequently Asked Questions From Prospective Business Owners
Are there other business financing options?
- Yes! Here are some of the main business financing options available through our organization:
- Regular business loans
- Commercial mortgages
- Asset-based financing
- Financing for equipment
- Merchant cash advances
- Payment processing
For more information about these financing options, click here.
Do I need to have a business plan to be approved?
- This usually depends on how your particular your lender in Ontario operates. However, it is often preferred if you can demonstrate exactly how you intend to use your business loan money. Having a solid business plan will also make you look more organized and serious about your enterprise.
What do I need for the application procedure?
- When considering you for business financing of any kind, your lender in Ontario needs to confirm that you can afford all your future payments (plus interest and fees) and that you’ll never miss a payment deadline. For that reason, it’s best to have your finances in order, which you can do by:
- Providing evidence of steady income – While your business itself might be your priority, you still need to show your lender in Ontario that you’re earning enough regular income to cover your payments.
- Paying off your current debts – Your lender in Ontario may examine your financial history, including the places where you already owe money. A bunch of unpaid debt makes you look like an irresponsible borrower!.
- Pulling your own credit profile – Another way your lender in Ontario gets a better picture of your financial aptitude is by inspecting your credit report, which contains your credit score and credit history. These elements showcase how you’ve been handling your other credit accounts. You can request a free copy once per year from Equifax or TransUnion. This way, you’ll know how qualified you are before you apply.
What is my credit score and why is it so important?
- Your credit score is a type of collective average given to you by Canada’s credit reporting agencies, ranging from 300-900. It’s important because:
- It’s how your lender in Ontario determines your creditworthiness without having to read through your entire credit history.
- It tells your lender in Ontario what interest rate they should give you.
- A score of 650 or higher means you have good credit. Lenders will then give you a better chance of approval and lower interest rates, making your loan cheaper.
- A score of 620 or lower means you have bad credit. Lenders will then give you less chance of approval and higher interest rates, making your loan more expensive.
Click here if you’d like to know how to get a bad credit loan in Ontario.
Industries That Qualify for Business Loans in Ontario
In truth, almost any type of industry can qualify for a business loan in Ontario, including but certainly not limited to:
- Medical supply warehouses, and distributors
- Medical facilities, clinics, and practices
- Hotels, motels, and B&B locations
- Vacation rental locations
- Restaurants, bars, bakeries, and coffee shops
- Farm equipment and supply retailers
- Vegetable, fruit, grain, and livestock farming
- Town Car, limousine, shuttle, and other transportation-related services
- Plumbing, electrician, and home/industrial repair businesses of any kind
- Pet stores, pet groomers, and other animal-related businesses
- Wellness spas
- Hair, nail, and beauty salons
Frequently Asked Questions
Do I need a business plan to get a business loan in Ontario?
A business plan is usually a requirement for start-ups and small businesses. Due to the risk they pose as new entrants, many small business lenders want to see how serious you are as an applicant. A strong business plan will show your lender how you plan to use the funds, how it will help you grow and how it will affect your future financial projections. Your ability to communicate these aspects will help convince your lender that you are serious and capable of using the loan responsibly.
Can I get a business loan with bad credit?
If you have a poor credit score, an alternative lender will be your best choice. Banks and other traditional financial institutions in Ontario often require a personal credit score of at least 600, if not more. Alternative lenders, on the other hand, have more flexible lending standards. They typically base their approval on your businesses’ monthly sales, rather than your credit score.
How is a personal credit score different from a business credit score?
While a personal credit score ranges between 300 and 900 a business credit score ranges between 0 – 100. Moreover, the way your personal and business credit score is calculated varies. A personal credit score is based on your payment history, credit utilization ratio, credit length, credit mix and new credit. On the other hand, a business credit score is based on your businesses’ payment history, credit history, balance-to-limit ratio, and the variety of business credits you use.
Loans Canada, At Your Service!
If you’re a prospective Ontario business owner and you’re looking for the best business loan for all your financing needs, then you’ve come to the right place. If you apply below, we’ll help you get set up with the best sources of business loans anywhere in Ontario. Don’t wait, contact us now!
