Bank
CIBC
cibc.comRate: Variable (credit-based); monthly/admin fees may applyMax: Loan pre-approval under $50K (line of credit; BC program)
Regions served
Canada-wide · British Columbia
Financing products
- Business term loan
- Business credit cards
- Equipment financing
- Line of credit
Typically required
- Eligibility: BC corporation only; business must not be a subsidiary
- Revenue over $200,000/year
- Shareholders: minimum 25% ownership per person
- Personal guarantee
- Food & manufacturing generally not accepted unless very strong fundamentals
- Business history
- Good personal credit (credit history)