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Business Loans
BMO Bank of Montreal offers mortgages, loans and leasing options for businesses looking to make capital purchases. The availability of the following products and services is subject to prior credit approval by the Bank.
Commercial Line of Credit (CLOC)
Easy access to credit for your business when you need it! The CLOC allows you to choose secured or unsecured borrowing. Limits from $5,000 to $100,000 on an unsecured CLOC*, and $25,000 to $250,000 for a secured CLOC* allow for flexibility. For your convenience, just write a cheque on your account or use your Commercial Line of Credit MasterCard®* where accepted.**
Fixed Rate Term Loans
Longer term loans used to acquire new or existing business, to buy fixed assets such as equipment and machinery, or refinance existing debt.
Floating Rate Term Loans
A longer term loan that includes the flexibility to float your loan rate with interest rate fluctuations.
Canada Small Business Financing Act (CSBFA)
A source of up to $250,000 for small businesses in Canada. Total amount to a borrower may not exceed $250,000 and only businesses with less than $5 million in annual revenue qualify. The CSBFA provides for a sharing of losses, if any, between the lender and the federal government.
Farm Improvement and Marketing Co-operatives Loans Act (FIMCLA)
Available for up to 80% financing of many capital assets including implements, buildings, additional land and debt consolidation, to a maximum of $250,000.
Installment Loan Plan (ILP)
Longer term loan used to buy fixed assets such as equipment and machinery, acquire new or existing business or refinance existing debt. This demand loan can be prepaid at any time without penalty.
Leasing
The CIT Group in alliance with BMO Bank of Montreal, provides financing to qualifying borrowers for the full cost of the eligible assets including shipping and installation.
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