CIBC Small Business Loans/Lines of Credit over $100,000
If you have an ownership interest in the business, you can meet your business borrowing needs with a CIBC Small Business loan or line of credit over $100,0001. 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
|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 an ownership interest in the business
- Need to borrow over $100,000 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
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 ownership in the business. 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