2016-12-12 00:00:00Borrowing and LoansEnglishExplore your options when it comes to startup financing, and find the small business loan that is right for you.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Small-Business-Owner-Meets-With-A-Bank-Manager-To-Discuss-Loan-Options.jpgThe Basics of Small Business Loans and Startup Financing

The Basics of Small Business Loans and Startup Financing

0 min read

A small business loan is a sum of money provided to a new or existing company to fund various aspects of conducting business. Financial institutions are often the most reliable and cost-efficient source of funding, and most banks offer several programs and options. Term, or instalment, loans are repaid over a specified period of time, usually in monthly payments. New small businesses often lack the credit history and collateral to qualify for these loans, especially when they’re seeking startup financing.

New ventures often seek funding through the Canada Small Business Financing Program. CSBFP loans are available through most lenders for both new and existing businesses. Personal loans are another option for new small business owners with good credit.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

The Ministry of Small Business, Red Tape Reduction, and Other Programs in BC

As of 2017, British Columbia has the fastest-growing gross domestic product of…

Read more

What to Do if You Get Turned Down by the Canada Small Business Financing Program

The Canada Small Business Financing Program makes it easier for small businesses…

Read more

Common Sources for Business Loans

Sometimes growing a small business requires borrowing money. Fortunately, you have numerous…

Read more