Short-term business financing
Manage your day-to-day business costs or short-term financing needs with one of our flexible, borrowing solutions. Explore your options and speak to one of our experienced advisors.
Lines of credit
This is right for you if: You need flexible, ongoing access to funds for your day-to-day business needs.
- Credit limits are based on your business' borrowing needs.
- Only pay interest on the actual dollar amount borrowed.
- You’re comfortable with a variable interest rate1.
- Monthly statements give you a consolidated view of your account activity.
- Deposits made to your business chequing account are credited directly to the outstanding balance on your line of credit, lowering the amount of interest you pay monthly.
Fees and charges
- A one time application fee may be applicable.*
- An ongoing monthly charge may be applicable.**
These types of borrowers are not eligible for a business line of credit:
- A new business with less than 2 years of accountant-prepared financial statements available and/or more than 50% change in ownership.
- Members that are guarantors or already connected to another Member's business borrowings.
- Applicants with bankruptcies (until the bankruptcy history is removed from the credit report, which normally takes 7 years from discharge). Bankruptcies declared twice will continue appearing in the credit report for 14 years after discharge.
- Businesses and organizations that are set up as:
- Clubs and/or unincorporated associations
- Not for profits
- Complex ownership structures
- Registered charities
- Trusts
- Other structures/risk profiles may apply
Business credit cards
This is right for you if: You need a credit card for your every-day business expenses.
- Annual fee waived for the first year.
- Cash back options up to 3% depending on the card you choose.
- A variety of benefits, including rewards, insurance, Visa Expense Management Tools, and more.
Accord Financial
This is right for you if: You’re looking for alternative financing options and maximum flexibility for your business.
- Financing solutions from $500K - $20M.
- Asset-based lending works like a revolving loan: available when you need it, and pay it down whenever you choose.
- Accounts receivable financing, including invoice factoring is a popular alternative to bank financing for start-ups, growing businesses and more mature companies looking for maximum flexibility.
- Unlock the value of the accounts receivable you’ve earned but haven’t yet collected.
