Business Loans & Lines of Credit
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Get the loan or line of credit you need faster because we make our lending decisions locally.

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Get the best fit and the best deal with help from experts who know your area personally.

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Solutions for every need

Find a lending solution to suit any need – whether big or small, secured or unsecured.

Find the lending solution that is right for your business

Equipment Loan

The ideal loan for businesses looking to buy new or used equipment and vehicles.

Operating Loan

The ideal loan for businesses that need short-term financing for receivables, inventory, or cash flow needs.

  • Option to make interest-only payments
  • Up to 12 months to repay

Line of Credit

The ideal option for those who want easily accessible funds for unexpected expenses and cash shortages.

  • Attached to your chequing account
  • Only pay interest on the funds you use (charged monthly)
  • Access funds via online banking, ATM, cheque or in-branch

Quick Loan

The ideal option for those who want flexible access to a loan whenever they need it.

  • Revolving loan – pay it down and borrow again without having to reapply 
  • Flexible repayment options
  • Access loan funds via online banking, ATM or in-branch

Canada Small Business Financing Program (CSBFP)

This program was created to assist small businesses or start-ups operating for profit in Canada, with gross annual revenues of $10 million or less,  obtain funds to start or grown their business.

  • Loans are available for the purchase or improvement of equipment or land, and leasehold improvements
  • Finance up to 100% of the purchase price
  • Up to 10 years to repay

Agriculture businesses interested in government funding programs can utilize the Canada Agriculture Loan Act (CALA) program.

CEBA Loan Changes

Canada Emergency Business Account (CEBA) – Latest Update

The Government of Canada recently announced that the repayment deadline for Canada Emergency Business Account (CEBA) loans in good standing to qualify for partial loan forgiveness and the interest-free period end date will both be extended by one year to December 31, 2023.

The Government of Canada has stopped accepting applications for the CEBA loans as of July 1, 2021, but we are continuing to provide support to members with funded and outstanding CEBA loans.

Important reminders regarding the terms of your CEBA Loan:

  • Loan forgiveness will apply if the CEBA balance minus the eligible forgiveness amount is repaid by December 31, 2023;
  • No interest applies before January 1, 2024;
  • Commencing on January 1, 2024, interest will accrue on the balance of the loan at the rate of 5% per annum, payable monthly on the last day of each month;
  • The full amount of the loan (including principal and interest) is due and payable on December 31, 2025

The CEBA program provided a $40,000 or $60,000 loan to eligible businesses to help cover non-deferrable operating costs while they were affected by COVID-19.

Terms for loans repaid prior to December 31, 2023:

  • Interest rate: 0%
  • Principal payments are not required.
  • Forgiveness:
    • $40,000 loans: $10,000 may be forgiven if $30,000 is repaid by December 31, 2023.
    • $60,000 loans: $20,000 may be forgiven if $40,000 of the loan balance is fully repaid by December 31, 2023.

Terms for loans repaid after January 1, 2024:

  • The loan will be extended to December 31, 2025 if not repaid by December 31, 2023
  • Interest rate: 5% per year

Borrowers who received $60,000 in CEBA funds:

For borrowers who took out the full $60,000 CEBA loan, whether as a new applicant or through the original CEBA loan plus the expansion loan, the program provides for a blended rate of forgiveness that works out to 1/3 of the loan, if 2/3 of the original balance is paid on or before December 31, 2023. To have $20,000 of your $60,000 loan forgiven, simply repay $40,000 on or before December 31, 2023.

Example 1:

Amount Borrowed:  $60,000

Amount Repaid by December 31, 2023:  $40,000

Available Forgiveness:  $20,000

Example 2:

Amount Borrowed:  $60,000

Amount Repaid by December 31, 2023:  $35,000

Available Forgiveness:  $0

Borrowers who received $40,000 in CEBA funds:

For borrowers who took the original $40,000 CEBA loan before December 2020 and did not apply for an expansion loan, $10,000 of the loan will be forgiven if $30,000 is paid on or before December 31, 2023.

Example 1:

Amount Borrowed:  $40,000

Amount Repaid by December 31, 2023:  $30,000

Available Forgiveness:  $10,000

Example 2:

Amount Borrowed:  $40,000

Amount Repaid by December 31, 2023:  $25,000

Available Forgiveness:  $0

Borrowers who repaid the original $40,000 loan before December 2020 and received the $20,000 expansion loan:

Members who received the $20,000 CEBA expansion loan after having fully repaid their original $40,000 CEBA loan will have $10,000 of their expansion loan forgiven if the additional $10,000 is paid on or before December 31, 2023.

Example 1:

Amount Borrowed:  $20,000

Amount Repaid by December 31, 2023:  $10,000

Available Forgiveness:  $10,000

Example 2:

Amount Borrowed:  $20,000

Amount Repaid by December 31, 2023:  $8,000

Available Forgiveness:  $0


For further detail on the forgiveness terms of the CEBA program, please visit the Government of Canada’s CEBA website.

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