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Small Business Financing
We recognize the unique borrowing needs of Small Businesses and offer many simple, flexible, and fast financing solutions including lines of credit and loans. Some features included with our Small Business financing products are:
- one simple no fee application for credit needs up to $250,000
- a variety of ways to access your funds including through a MasterCard®* access card, by cheque, and with a FirstBank Card for Business
- a monthly statement to help you keep track of all of your borrowing activity (available for line of credit products)
- optional Creditor Life Insurance protection
With the borrowing needs of small business in mind, the following financing products were designed and offer flexible features to meet your objectives:
Small Business Line of Credit/ Small Business Homeowners Line of Credit
Through one simple application, these Small Business Lines of Credit can provide a variable-rate credit facility with a very competitive interest rate. You get flexibility and convenience of access to your available credit limits from between $5,000 to $100,000 for an unsecured line of credit* and from between $25,000 to $250,000 for a secured line of credit.* And since you borrow only what you need, when you need it, you control your interest costs.
Small Business Homeowners ReadiLine
The Small Business Homeowners ReadiLine is a mortgage and line of credit rolled into one – offering the benefits of both flexibility and choice. Using the equity in your home, you get a single borrowing solution for all of your day to day operating needs as well as your long term financing needs. Plus you have the option to lock down any portion of your ReadiLine at a fixed or variable rate keeping you in control of cost.
Small Business Instalment Loan
Protect your business cash flow from interest rate fluctuations with the Small Business Instalment Loan. You decide whether you want a variable rate or fixed rate interest option. And to provide even more financial flexibility you can select a longer amortization period – minimizing the amount of each payment. That’s convenience and control all in one loan.
The Next Step
Apply online using our loan application starter
contact us at 1 877 262-5907
or visit your BMO Bank of Montreal branch.
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