We'll verify your information and review your credit profile. If your application meets our borrowing criteria, you'll get approved for a specific amount with a specific interest rate and repayment term.
After you accept your offer and sign a few documents, you can start using your money directly from your business bank account. Get funds in as little as 2 days — for most applications.3
Use funds whenever you need them, without reapplying — you don't have to contact us every time.
Pay off all or part of the balance at any time.
Access your line of credit by writing a cheque against your CIBC business account, through CIBC online, mobile or telephone banking, ATM withdrawals or at a CIBC Banking Centre.
Get a combination of borrowing products, such as a loan or overdraft protection, for more flexibility.
Your business line of credit questions answered
A business line of credit gives you on-going access to funds for your day-to-day operations.
If you prefer a one-time lump sum of money, a loan may be right for you. Or, if you want to protect your business from unexpected cash shortfalls, choose overdraft protection instead.
No, you can’t apply online. Instead, you can meet with a business advisor at a banking centre who’ll guide you through the application process. Applying for a business loan, line of credit or overdraft is an important decision so you should talk to one of our experts first.
When you meet with us in person, we’ll take the time to answer your questions and understand your priorities. We'll give you tailored advice that's based on your borrowing needs. Plus, our experts will review your finances and give you tips on how to manage your cash flow, structure your debt and streamline your personal and business banking.
You may qualify for a lower interest rate if you secure your business line of credit with a valuable asset, like a piece of equipment. Your credit score may also affect the amount of interest you pay. If you have a higher credit score, you may get a lower the interest rate.
Here's the kind of expertise you can rely on
“My success comes from taking the time to understand my clients' businesses, their personal finances and all the challenges they face in life — which may or may not be related to finance."
Ryan C., Senior Business Banking Financial Advisor with more than 19 years of experience
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