By Tony Freanisco, Personal Finance Writer at BorrowNow.ca · Published August 18, 2026 · Last updated August 19, 2026
Business loans help Canadian owners cover working capital, equipment and growth. Compare licensed lenders in one quick application – matched on your business and ability to repay, with no impact to your personal credit to compare.
At a glance: Working capital, equipment & growth · Sole proprietors & incorporated · Matched on revenue & ability to repay · Compare multiple lenders at once · Costs disclosed before you sign
A business loan gives your company a lump sum to invest in the business, repaid over an agreed term. Lenders look mainly at your business revenue and ability to repay – how long you’ve been operating and the money flowing through the business – rather than your personal credit score alone. BorrowNow helps you compare licensed Canadian lenders from one quick application instead of pitching each lender separately.
Whether you’re a sole proprietor or incorporated, the goal is the same: financing that fits your cash flow so the payments don’t strain the business.
Borrow against real, planned needs and match the term to how quickly the investment pays off. A short-term gap may only need a smaller, faster loan, while equipment might suit a longer term.
Business loans come in a few standard shapes, and matching the shape to the need saves real money:
Established businesses with strong financials can also look at the government-backed Canada Small Business Financing Program, which shares the lender’s risk on loans for equipment, leasehold improvements and property. It runs through banks and credit unions with their own approval standards, so it complements rather than replaces comparing online business loans.
Apply once and compare real offers from multiple lenders.
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Tell us how much your business needs and share basic details about your revenue.
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We match you with licensed lenders so you can compare amount, term and total cost.
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Choose the offer that fits your cash flow and put the funds to work in your business.
The rate and term on a business loan depend on your revenue, time in business, the amount and the lender. Lenders in the network disclose the full cost of borrowing – including any fees and the annual rate – before you sign, so you can compare offers on the total cost, not just the payment. Reputable lenders never ask for an upfront fee to release funding or promise guaranteed approval.
Most lenders want to see that your business is operating and generating steady revenue. Strong cash flow can matter more than a perfect credit profile, which is why newer and rebuilding businesses are still often matched. Having the paperwork ready speeds every application for business loans: recent business bank statements, a picture of monthly revenue, your registration or incorporation details, and a clear number for what you need and why. Need personal financing instead? Compare a personal loan or installment loan.
One comparison habit separates cheap business loans from expensive ones: always ask for the total payback amount in dollars. Some products quote factor rates or weekly payments that hide the real cost, and two offers with similar payments can differ by thousands over the term. Licensed lenders will put the full figure in writing before you sign, and any lender that will not is telling you something.
Mainly your business revenue, how long you’ve been operating, and your ability to repay. Strong, steady cash flow can matter more than a perfect personal credit score.
It depends on the lender, but many will consider newer businesses with steady revenue. Borrowing an amount your cash flow can clearly support improves your chances.
It varies by lender and your revenue. Match the loan to a specific, planned need so the repayments fit your cash flow.
No. Comparing options on BorrowNow does not affect your credit score. A lender may only run a check if you move forward with a specific offer.
Both can apply. The lender will simply assess the business’s income and your ability to repay based on how you’re set up.
Timelines vary by lender and the amount, but online matching means you can compare offers quickly rather than waiting on one bank.
Costs depend on the amount, term, your revenue and the lender, and the full cost of borrowing is disclosed before you sign. Always compare the total, not just the payment.
Ready to invest in your business? One quick application. No obligation. No impact to your personal credit score to compare.
Disclaimer: BorrowNow.ca is a matching service, not a lender. Business financing terms and approval are set by licensed Canadian lenders and depend on your business and credit profile. All Canadian loans are subject to the federal 35% APR criminal interest rate cap. Borrow only what your business can afford to repay.
