Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Established in 1944, the Business Development Bank of Canada (BDC) is a crown corporation that’s owned by the federal government. They’re the only Canadian bank with Beneficial Corporation (B Corp) certification (reserved for companies that benefit society) and they specialize in providing different business financing services, including but not limited to:
As mentioned, a BDC Small Business loan lets you borrow up to $100,000 over a maximum period of 5 years. It’s designed to help businesses finance a variety of expenses such as new equipment, inventory, supplier costs, employee salaries, and marketing campaigns. When you choose a BDC small business loan, you can take advantage of:
As a client of BDC, you can apply for a business loan whether you’re trying to finance a startup or an established company. You’re also allowed to postpone your principal loan payments for 6 – 36 months, if necessary. BDC currently offers the following loan types:
Business Purchase or Transfer Financing
Commercial Real Estate
Up to 100% financing
25 years max.
Up to 125% financing
12 years max.
Up to 90% financing
18 months max.
Small Business Loan
Up to $100,000
Startup Financing (all businesses must be operating for a minimum of 12 months)
Up to $125,000
Up to 100% financing
4 years max.
Technology Company Financing
At BDC, business financing requirements vary from product to product. For instance, here’s what you’ll need in order to qualify for a BDC Small Business Loan:
Applying for BDC business financing is relatively simple. Just follow these instructions:
When you apply for a BDC loan, make sure to have these documents ready:
You must also obtain the consent of any business partners you have. Otherwise, if your business qualifies, you can accept your loan offer and sign the confirmation documents.
While BDC is a government-owned bank, their loan prices work almost the same as any other lender, meaning the cost of your BDC business loan could vary according to your:
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No matter what type of business financing you choose, getting a low-interest rate is one of the primary ways to make it more affordable. BDC decides your rate by determining the creditworthiness of your business and any of its owners. Basically, you must prove that your business loan will be paid off in full and on schedule, which you can do by:
Here are some of the main reasons to apply for your business financing through BDC:
Then BDC could be the perfect bank for you. Not only are they owned and regulated by the federal government, BDC offers a range of flexible and affordable loan options for small and medium-sized businesses alike. Don’t hesitate to call the BDC customer service department at 1-877-232-2269 or visit their website today for more information
Rate & Terms
Requirements & Documents
BDC is a “bank” and NOT “for entrepreneurs”. Run like a government department rather than a supporter of small business.
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