† The Introductory Interest Rate will apply to new loans for the first 6 months. The interest rate will change to the rate stipulated in the terms and conditions applicable to your loan after the 6 months without notice to you. CIBC Prime means the variable interest rate determined by CIBC from time to time to be the CIBC Prime rate for Canadian dollar lending products. CIBC Prime rate may change without notice. Your interest rate will vary whenever CIBC Prime rate varies and whenever we change your variable interest rate at our sole discretion. For the current CIBC Prime rate, visit Rates for Loans and Lines of Credit. For unsecured loans, personal guarantees may be required from all principals who have ownership in the business; this will not qualify an unsecured loan for secured loan introductory interest rates.
1 2% cash back amounts — up to $10,000 — are available on the CIBC Variable Rate Business Loan. The minimum approved amount for new loans and increases is $50,000, maximum up to $1,000,000. Cash back will only be calculated based on the amount of the new loan or the increase in the amount of an existing loan. Maximum cash back amount is $10,000 across multiple loans. Subject to credit approval. Other conditions and restrictions apply. Ask us for details. Offer may be changed or withdrawn at any time. Offer does not apply to Government-assisted loan programs such as Canada Small Business Financing Loans (CSBFL), franchise clients (who have a national package), conversions, renewals, Business Overdraft, line of credit, fixed and fixed term loans.
CIBC reserves the right, in its sole and absolute discretion, to disqualify any person CIBC finds or believes (using any evidence or other information made available to or otherwise discovered by CIBC) to be manipulating or otherwise abusing the process, fairness, integrity or operation of the offer.
2 All loan applicants must meet CIBC lending criteria and are subject to credit approval. Rates and limits will be determined based on an assessment of application. Some conditions and restrictions apply.
3 Provided we have received a complete application and supporting documentation by July 31.
4 Setup fee is only applicable to the cashback offer. Additional registration, legal and other administration fees and expenses may apply.
5 “Minimum balance” condition is met when a minimum daily balance of $35,000 is maintained in your Advanced Business Operating Account at the end of each calendar day in the billing month. If you maintained the minimum daily balance, your statement will reflect the monthly account fee as a charge and a rebate of $35.00.