CIBC Small Business Loans/Lines of Credit over $100,000 up to $250,000
If you have been in business for at least 2 years and you own at least 20% of that business, you can meet your business borrowing needs with a CIBC Small Business loan or line of credit over $100,000 and up to $250,0001. With our flexible borrowing options, you can choose the solution that's right for your business. In most cases, you'll receive a credit decision by the next business day.2
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| Visit the nearest CIBC Branch or contact your CIBC business advisor. | ||
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Key benefits
| Fast approval | Once we receive your completed application and supporting documentation, you'll usually get a credit decision by the next business day.2 |
| Competitive pricing | We offer competitive rates for both unsecured and secured loans and lines of credit. |
| Flexible options | Select a variable-rate or fixed-rate loan, a variable-rate line of credit, or a combination of the two. You can also choose a secured or unsecured option, with funds in either Canadian or U.S. dollars.3 |
| It's hassle-free | Once your loan and/or line of credit is set up, there's no formal annual renewal process required to maintain your existing credit limit. |
Is it for you?
A CIBC Small Business Loan or Line of Credit could be for you if you:
- Have at least 20% ownership in a business that has been in operation for at least 2 years
- Need to borrow over $100,000 up to $250,000 for your business (Canadian dollars or U.S. equivalent)
- Need money to meet daily operating needs, purchase equipment or support seasonal cash flows
Information you need to know:
- You may qualify for a lower interest rate on your CIBC Small Business Loan/Line of Credit by securing it with a principal residence, cash or cash equivalent or hypothec; there is a monthly administration fee for the line of credit option and a setup and annual review fee based on your total credit limit4
- For CIBC Small Business Loans and Lines of credit up to $100,000, consider CIBC Small Business Credit Edge™
Trademarks and Disclaimers
1 All loan, line of credit and Small Business Overdraft applicants must meet CIBC lending criteria. Subject to credit approval. Rates and limits will be determined based on an assessment of application. Some conditions and restrictions apply. The interest rate on variable rate loans, lines of credit and Canadian dollar Small Business Overdraft will change whenever CIBC's Prime Rate changes. Personal guarantees are required from all principals who have 33% ownership interest or more and a General Security Agreement is required from the business.
2 Credit decision is based on receipt of a complete application and supporting documentation.
3 Depending on your credit rating, some options may not be available and/or some conditions may apply.
4 You will be charged one annual review fee for all products under your total credit limit.
™ Trademark of CIBC
Copyright® 2008 Canadian Imperial Bank of Commerce. All rights reserved.