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Business line of credit

Get total flexibility to manage your cash flow and business expenses.

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Short-term financing for your business.

Total convenience and flexibility,
allowing you access to your funds
as you need them.

Take care of day-to-day business expenses

Discover the benefits

Know what to expect

Types of lines of credit

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Why get a business

Line of credit?

A business line of credit gives you quick access to working capital so you can cover any cash flow gaps.

Improve cash flow and capitalize on new opportunities
Safeguard your business chequing account with overdraft protection
Offers lower interest rates than most credit cards
Ability to save money through early payment discounts
Flexible repayment options and ongoing access to funds up to your credit limit

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Know what to expect

The process

First, determine if your business can benefit from short-term financing. A business can benefit from an LOC when supporting cashflow while waiting for receivables (i.e. covering seasonal start up expenses, unexpected expenses, or inventory).

For your appointment, please prepare to bring your business' financial statements and cash flow projections. This will allow our advisors to understand your business' financial position and as a result, provide tailored solutions.

Speak to an advisor today >

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Understand lines of credit

Two types

A line of credit is a variable-rate loan that allows you to borrow up to specific limit on an ongoing basis. The two types are:

Unsecured line of credit — for covering short-term cash flow needs and overdraft protection
Secured line of credit — receive a lower interest rate, interest-only monthly payments, and an option of a higher credit limit