Line of Credit

A revolving Line of Credit lets you draw funds up to an approved limit as needed, pay interest only on what you use, and access it again as you repay.

Key Features

  • Suited for short-term, recurring, or unpredictable expenses

  • Limits ranging from $350k to $40 Million

  • Structure: Revolving

  • Draw method: online transfer, wire, cheque and business banking portal

  • Multi Line available for CAN/USA use

  • Reduce reliance on higher cost borrowing

Use Cases

  • Manage expenses during slow periods

  • Debt service cash flow during AR waiting periods

  • Use the funds for anything: expansion, inventory, expenses, payroll etc.

  • Take advantage of seasonal fluctuations and pricing

Rates, Fees & Terms

  • Starting at bank prime + 0.5% subject to credit strength, revenues, AR balances

  • $2,500 commitment fee upon application submission

  • Line of Credit facility fee subject to level of engagement

  • Term is revolving, subject to annual compliance review

Eligibility

  • Min 3 years in business

  • Demonstrated operating history with min. $1 million annual sales

  • Satisfactory credit profile

  • Must provide minimum 3 years of accountant-prepared financial statements

Apply for a Business Line of Credit

Talk to a credit specialist to determine the Line of Credit solution that is right for you.