How Big of a Business Loan Can You Get in Canada?
How Big of a Business Loan Can You Get in Canada? You’ve got a big idea and an even bigger dream—but how big of a business loan can you actually get? Whether you’re launching a café, opening a tech startup, or building a llama-themed coworking space (again, not judging), lenders have limits—and they’re not arbitrary. 1. Bank Loans Traditional banks in Canada typically offer $25,000 to $500,000+ , depending on: Your credit score Business age and revenue Collateral availability Big loans require big proof that you can pay them back. Banks are cautious, but if you’ve got solid numbers, they can fund your dreams. 2. Government-Backed Loans Programs like the Canada Small Business Financing Program (CSBFP) allow you to borrow up to $1 million , including $350,000 for equipment and leasehold improvements. Pro Tip: Government-backed loans often allow higher borrowing because the government guarantees part of the loan. 3. Online Lenders Online lenders provide $5,000...