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Business Loans Saskatchewan

Author: Kale Havervold

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Kale Havervold

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: December 10, 2021

Business Loans Saskatchewan - 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
23	1700524800		Up to $25,000	24.99% – 29.99%	30 or 60	Up to $25,000
10	1692748800		Up to $500	0%	Up to 65 days	Up to $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
9	1670889600		$1,000 – $15,000	19.9% – 34.9%	–	$1,000 – $15,000
11	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
1	1620777600		Up to $35,000	9.99% – 34.95%	6 – 60 months	Up to $35,000
24	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1598918400		Up to $15,000	–	–	Up to $15,000
100	1598832000		$500 – $15,000	Start at 10.99%	9 – 60	$500 – $15,000
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	1579219200		Up to $1,500	$14 per $100	Up to 30 days	Up to $1,500
100	1576713600		$500 – $100,000	Starting at 12.99%	Up to 60	$500 – $100,000
10	1552262400		$500 – $25,000	29.9% or 34.28%	6 – 84 months	$500 – $25,000
100	1551830400		$1,000 – $15,000	19% – 34.95%	12 – 60	$1,000 – $15,000
100	1551398400		Up to $1,500	$14 per $100	14 days	Up to $1,500
15	1551139200		Up to $15,000	34.99%	Open-ended	Up to $15,000
100	1550534400		$100 – $1,500	$14 per $100	14 days	$100 – $1,500
100	1550534400		Up to $1,500	$14 per $100	14 days	Up to $1,500
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
11	1545264000		$500 – $100,000	12.99% – 34.99%	9 – 60 months	$500 – $100,000
100	1545264000		$500 – $10,000	Starting at 9.90%	12 – 36	$500 – $10,000
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
12	1545350400		Up to $7,000	35%	6 – 60	Up to $7,000
15	1545350400		$500 – $1000	Up to 32%	3	$500 – $1000
100	1545350400		$500 – $750	23%	3 – 4	$500 – $750
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
8	1568937600		Up to $10,000	Varies by product	Varies by product	Up to $10,000
100	1569974400		$200 – $1,500	$14 per $100	Next payday	$200 – $1,500

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
9	1725321600		Up to $40,000	$0.75 per $1,000 per day	–	Up to $40,000
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		–	–	–	–
24	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
2	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	–	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		$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		$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		–	–	–	–
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
8	1545350400		$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
6	1545177600		$5,000 – $300,000	9% – 35%	Varies by product	$5,000 – $300,000
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	–
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
24	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
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		-	–	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	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	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 +
7	1708473600		–	–	–	–
5	1700524800		–	-	-	–
4	1690934400		–	–	–	–
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	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	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	–
100	1548720000		–	–	12 – 60	–
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
100	1576454400		Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

While it is much smaller (in terms of population) than other provinces like Alberta, BC, and Ontario, Saskatchewan is still home to a ton of local and family-owned businesses. And while being a business owner is a worthwhile venture for most, it can sometimes be difficult to keep your business up and running. One of the biggest reasons why is the amount of capital needed to operate a business.

If you have super high profits or investors that don’t mind pumping money into your company, you should be fine. However, if you don’t, it can be a bit of a struggle. Thankfully, business loans are another great option. Just like standard loans, these can be secured from a variety of providers to help you do everything from moving to a new location, hire and train more employees, or even purchase and maintain equipment that you need.

How to Know If You Need a Business Loan in Saskatchewan?

The easy answer is when you need some extra money to run your business, but it isn’t always that simple. All business owners or operators have a different feel for this sort of thing, they know when it’s the right time for them to seek out financial help.

Are you a restaurant owner in need of a business loan? If so, click here.

Some companies are okay with functioning for a while on limited resources and making it work, while others might want to get the loan immediately and are not comfortable with having low funds in their accounts and the elevated stress levels that can bring.

Generally, you should only get a business loan when you need the money, and shouldn’t jump the gun if you only “might” need the money. So if you need new equipment or are moving to a new location, you should look at securing a business loan in Saskatchewan, but only when you know for sure that those situations are upon you. Securing a business loan when you don’t need any extra money just means you are going to lose money in the grand scheme of things, so be careful.

For a look at secured business loans, check this out.

Where to Get a Business Loan in Saskatchewan?

When you are looking for a business loan in Saskatchewan, there are a variety of different providers that you can consider, and they include:

• Banks
• Credit unions
• Local lenders
• Online lenders

As for which is better, that depends on your wants and your needs. Banks and local lenders have great reputations and a physical location you can go in, but their rates can be higher and it can take weeks for approval. Online lenders are fantastic because they not only offer easy application and a quick approval but can often offer very competitive interest rates.

Read this if you’ve been trying to compare lenders in Canada.

However, it can sometimes be hard to know the reputation or legitimacy of these online lenders. It’s important to always be on the lookout for any signs that a lender might be trying to scam you, including:

• Guaranteed approval
• The promise of outrageous benefits
• Lack of information
• A poorly executed website

Basically, if you feel uneasy about a lender, you should look elsewhere.

Loan insurance scams are also a problem in Canada. Click here to know more.

Applying For a Business Loan in Saskatchewan

Before you decide to apply for a business loan in Saskatchewan, conside the following information.

What types of business loans are available to me?

While a standard business loan can be secured, that is far from the only option. Your other options include merchant cash advances, commercial mortgages, asset-based financing, and equipment financing. These will all have different rules, regulations, and terms, so be sure to read more about them and see which is right for you.

To learn about these business financing options, check this out.

How much should I get?

This will entirely depend on how much you need. Also, the lender you choose, your current credit, and financial history will also have an effect. You should apply for only as much as you need, even though it may be tempting to get more.

Read this if you want to know how your payment history affects your credit score.

The better your finances look, the better your business plan is, and the better your credit will all determine how much, in total, you will be able to borrow. Some lenders will only be able to lend a few thousand, while others might be comfortable lending out hundreds of thousands of dollars.

I have bad credit, can I get a business loan in Saskatchewan?

Getting a loan for those who have bad credit can be a stressful thing to go through. However, of the many different lenders out there, some of them will have options available for those with bad credit. Sure, they might come with more strict terms or a slightly higher rate, but yes, even with bad credit, you should still be able to secure a business loan in Saskatchewan from certain providers. Of course, this will differ case by case, so always bring it up with any lender you are considering.

Look here for some information about bad credit loans in Saskatchewan.

Frequently Asked Questions

Saskatchewan Business Loans Made Easy

Need a business loan in Saskatchewan? If so, consider reaching out to us at Loans Canada. We are confident that we can help you find the perfect business loan for all your needs.