Is this right for you?

You are looking for longer term loans to acquire new or existing business, to buy fixed assets such as equipment and machinery, or refinance existing debt. You want the flexibility to float your loan rate with interest rate fluctuations.

A BMO Bank of Montreal Floating Rate Term Loan may be the answer.

The Details

• Terms of up to 7 years are available.
• An amortization period of up to 15 years is also available.
• Interest rate is based on BMO's Prime Rate plus an increment which is fixed for the term selected.
• Principal repayment options are monthly, quarterly, semi-annual and annual.
• Blended (to include both principal and interest) monthly payments will be fixed for the term selected.
• Interest is paid monthly.
• Loan can be switched to a Fixed Rate Term Loan at any time during the term.
• Loan cannot be called unless in default as stipulated in the loan agreement.
• Prepayment of principal is permitted without penalty.
• Security in addition to asset(s) being financed may be required.

Is there anything else I need to know?

The BMO Bank of Montreal Commercial Loan Insurance Plan is available to qualified borrowers.

The Next Step

Apply online, contact us at 1 877 262-5907
or visit your BMO Bank of Montreal branch.