General Business Loans

📋 Eligible Entities - Small and medium-sized enterprises (SMEs) - Incorporated businesses and sole proprietors - Partnerships and cooperatives - Existing businesses seeking expansion or acquisition - Startups purchasing established businesses - Businesses in most industries (subject to lender discretion) - Canadian-based operations with demonstrated business viability ### 💰 Funding Details - Loan Amount: Up to $1,250,000 per application - Repayability: Loans must be repaid with interest - Interest Rates: Variable based on lender, business risk, and creditworthiness - Loan Terms: Typically 5-10 years depending on asset type and use - Matching Requirements: No specified matching contribution required - Down Payment: Often 10-20% depending on lender and collateral - Repayment Schedule: Monthly, quarterly, or annual installments (negotiable with lender) ### 🛠️ Approved Expenses - Equipment Purchase: Machinery, tools, and capital equipment - Working Capital: Day-to-day operational expenses and cash flow needs - Inventory Financing: Stock and product inventory acquisition - Business Acquisition: Purchase of existing businesses and operations - Expansion Costs: Facility upgrades, renovations, and infrastructure improvements - Leasehold Improvements: Build-outs and modifications to leased spaces - Related Professional Fees: Legal and accounting costs associated with acquisition or expansion ### ⚠️ Conditions & Milestones - Business Plan Required: Detailed plan demonstrating viability and repayment capacity - Credit Assessment: Personal and business credit evaluation mandatory - Collateral/Security: Lender will typically require assets or personal guarantees as security - Proof of Ownership: Documentation of business registration and ownership structure - Financial Statements: Recent financial records (typically 2-3 years of tax returns and balance sheets) - Use of Funds Verification: Lender verification that funds are used for approved purposes only - Ongoing Reporting: Regular financial reporting and business performance updates during loan term - **No Default