†† You may be eligible to receive 1% cash back up to $10,000 on a new variable- or fixed-rate business term loan or approved limit increase on an existing term loan as follows:
1. Offer Period
The Offer Period begins on October 1, 2021 and ends on December 31, 2021.
The cash back is available for:
- You must apply and be approved for:
- a new variable- or fixed-rate term loan of between $50,000 and $1,000,000 or
- a balance increase of between $50,000 and $1,000,000 on their existing term loan.
- Applications must be submitted by December 31, 2021, and approved and funded by March 31, 2022.
- The total maximum cash back you can earn is $10,000 on new loans and loan increases.
- The eligible term loan must remain in good standing for a period of at least 6 months after the new loan or increased loan is funded.
- The following types of loans and credit products are not eligible for the Offer:
- Business overdrafts, line of credits, credit cards, loan conversions or loan renewals
- Government loan programs, such as Canada Small Business Financing Loans (CSBFL), the Highly Affected Sectors Credit Availability Program (HASCAP) or the Business Development Bank of Canada (BDC) Co-Lending Program
3. Additional conditions that apply
- CIBC reserves the right, in its sole and absolute discretion, to disqualify you from the Offer at any time during the term of the loan, if CIBC reasonably determines (using any evidence or other information made available to or otherwise discovered by CIBC) that you are no longer eligible for the Offer, or that you may be manipulating or otherwise abusing the process, fairness, integrity or operation of the Offer, and any cash back amounts paid to you must be returned.