Small Business 101

4 out of 10 business owners are unaware of the terminology that comes with lending. Let’s master the ABCs of business loans.
Kate Eadie Oct. 12, 2021 4-minute read

Glossary of business loan terminology

Closed loan, also known as fixed term loan

Loan collateral

Loan term

Open term loan, also known as variable loan

Secured lending

Unsecured lending 

Extra credit: Terminology highlights from the experts


General Security Agreement (GSA)

Personal guarantee

Blended payments 

Principal and interest

Empowered banking with CIBC

To discuss your Business Banking needs