From CSBFL's $1.15M federal program to Clearco's 24-hour revenue-share for e-commerce. Canadian SMBs have more lender options than ever. We rank all 11 by use case so you skip the rejected applications.
LENDER
AMOUNT
RATE
SPEED
MIN REVENUE
TIME IN BIZ
BDCBest for: term loans, real estate, equipment. Flexible terms for growth-stage
$25k-$25M+
7-12%
2-6 weeks
$50k+
12+ mo
CSBFL (Big-5)Federal program · 85% gov't-backed · available at participating banks
$5k-$1.15M
Prime+3%
2-4 weeks
$0+
0+ mo
RBC BusinessBest for established businesses with strong financials + RBC relationship
$10k-$5M
7-11%
2-3 weeks
$100k+
2+ yr
TD BusinessStrong for retail + restaurant · branch-based decisions
$10k-$5M
7-11%
2-3 weeks
$100k+
2+ yr
BMO BusinessBMO Boost online lending option for smaller amounts
$10k-$5M
7-11%
2-3 weeks
$100k+
2+ yr
ClearcoRevenue-share financing · no equity required · e-commerce focus
$10k-$10M
6-12% flat
24-48 hours
$10k/mo
6+ mo
OnDeck CanadaFast working capital · same-day pre-approval
$5k-$300k
8.0%+
24-48 hours
$100k+
12+ mo
Merchant GrowthMCAs + term loans · approves businesses banks decline
$5k-$800k
Custom
1-5 days
$10k/mo
6+ mo
Thinking CapitalFast for newer businesses · stress-test on cashflow
$5k-$300k
8-29.9%
24-72 hours
$10k/mo
6+ mo
Lending LoopPeer-to-peer · investors bid on your loan · best for stable cashflow
$10k-$500k
6.5-22%
1-2 weeks
$200k+
12+ mo
Vancity / Credit UnionsOften more flexible than Big-5 for local businesses · community values
$5k-$5M
7-11%
2-4 weeks
$50k+
12+ mo
★ BEST FOR... ★
Pick by situation
STARTUP (NO REVENUE)CSBFL via Big-5
Federal program · 85% backed · easier approval for new businesses with collateral.
GROWTH-STAGE TECHBDC
BDC + Capital Tech specialty programs · flexible · willing on cashflow vs assets.
E-COMMERCE SCALINGClearco
Revenue-share = no equity · funds direct to ads/inventory. Made for online sellers.
NEED FAST CASH (24h)OnDeck or Thinking Capital
Online lenders approve same-day · higher rates but speed matters for cashflow gaps.
EQUIPMENT FINANCINGBDC + Big-5
Best rates for equipment with the equipment itself as collateral.
COMMERCIAL REAL ESTATEBig-5 Commercial
CSBFL has $500k real estate sub-limit · larger needs go to Big-5 commercial mortgage.
★ CSBFL DEEP DIVE ★
Canada's $1.15M federal program
How CSBFL works
The federal government guarantees 85% of your loan, so banks take less risk. Apply at any participating Big-5 + most credit unions. Approval typically based on your business plan + collateral.