Canada best business loans in April 2024

Start with a quote and get funds in 24 hours.

Working Capital
  • Working Capital
  • Debt Consolidation
  • Business Expansion
  • Inventory/Equipment
  • Other
Under 1 year
  • Under 1 year
  • 1 - 2 years
  • 2 - 3 years
  • 3 - 4 years
  • 4 - 5 years
  • Over 5 years
AB
  • AB
  • BC
  • MB
  • NB
  • NL
  • NS
  • NT
  • NU
  • ON
  • PE
  • QC
  • SK
  • YT
8 Results

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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

#1 Choice
$5,000 - $300,000
Loan Amount
Starting at 8%
APR Range
  • 4.7/5 customer rating
  • Funds in as fast as 24 hours
  • Payback flexibility
Pros & Cons
Extra Details
Popular
Apply Now

Smarter Loans

$5,000 - $500,000
Loan Amount
Starting at 8.96%
APR Range
  • Apply in 30 seconds
  • Won’t damage credit
  • Find the perfect loan
Pros & Cons
Extra Details
Best Value
Apply Now

Greenbox Capital

$3,000 - $500,000
Loan Amount
Starting at 7.99%
APR Range
  • Various loan types offered
  • Low credit scores welcome
  • 6 months in operation needed
Pros & Cons
Extra Details
Apply Now

Forward Funding

$5,000 - $500,000
Loan Amount
Starting at 12.99%
APR Range
  • Minimum $5k in sales/month
  • Canadian-based business
  • Bank Statements
Pros & Cons
Extra Details
$1,000 - $250,000
Loan Amount
Starting at 12.99%
APR Range
  • Funding is provided quickly
  • Flexible payment schedules
  • 90 days in operation needed
Pros & Cons
Extra Details
Apply Now

Merchant Growth

$5,000 - $500,000
Loan Amount
Starting at 12.99%
APR Range
  • Apply in 30 seconds
  • Won’t damage credit
  • Find the perfect loan
Pros & Cons
Extra Details
Apply Now

iCapital

$10,000 - $250,000
Loan Amount
Starting at 9.99%
APR Range
  • 5-minute application
  • 24 hour approval
  • Get up to $250,000
Pros & Cons
Extra Details
Apply Now

Loans Canada

$5,000 - $500,000
Loan Amount
Starting at 8.96%
APR Range
  • Find the perfect loan
  • No obligation, online
  • Get personalized offers
Pros & Cons
Extra Details

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FAQs about
Business Loans

Have a different question? Contact us today.

How do I qualify for a business loan?

To qualify for a business loan, you'll want to have a business that can sustain its operations and profit for the foreseeable future. This lets lenders know that you'll have the capital to pay back your business loan.

What is a good business loan rate?

Business loans in Canada usually have an average interest rate of 3% to 7%. This does vary from lender to lender and will depend on your business type.

What affects business loan rates in Canada?

Business loan rates are based on the type of business you operate, your business’ capacity for growth and the collateral needed to scale your business. Your lender will use these factors to assess your business’ ability to repay the loan easily.

What are typical business loan terms?

Most business loans will have a term of 1 - 10 years. This means that you'll have a specified in window of time to pay back the loan as set by your business loan agreement.

What can you do to save on business loans in Canada?

You are already taking the first steps to saving on business loans. When you apply with Comparewise, we automatically match you with the best deal for your situation.

What should I look for in a good business loan deal?

Before agreeing to a business loan you need to consider your business’ ability to pay off the loan. Consider the loan amount and repayment term (how long you get to repay your loan) and see if it is realistic for how your business has been growing. You’ll also want to consider the interest rates, fees, and collateral requirements set out by the lender.

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a business loan

Start with a quote and get funds in 24 hours.