Business Loans and Lines
Credit facilities with great flexibilities and unlimited possibilities
Business Loans
A term loan to cover your various financing needs, best suited for purchasing fixed assets or other one-time, larger expenses
- Competitive variable rates
- Flexible amortization options in line with life of asset ¹
- Fixed or variable monthly payment options to help manage your cash flow
- You may qualify for a government-guaranteed loan. See Canada Small Business Financing Loan for details.
¹ Subject to meeting Shinhan Bank Canada’s usual lending criteria
Business Lines of Credit
A flexible and convenient borrowing option perfect for covering day-to-day operating costs or pursuing time-sensitive business opportunities
- Quick access to funds when you need it 24/7 ¹
- Pay interest only on the amount you used
- Pay down principal whenever you can and the money is available again
- Lower borrowing cost further with equity in your home or business premises
¹ Subject to meeting Shinhan Bank Canada’s usual lending criteria
Canada Small Business Financing Loans
A government program to help start-ups or existing businesses acquire financing to purchase equipment, leasehold improvements, or property
- 85% your small business loan is guaranteed by Government of Canada, so there’s less risk.
- Your business is eligible if the annual gross (or projected) revenue does not exceed $10 million.
- Organizations not eligible include farming businesses, holding companies, trusts or not-for-profit organizations.
- Up to $350,000 ¹ in financing to buy equipment and vehicles, and/or improve leased property
- Up to $1,000,000 ¹ in financing to buy or improve owned commercial property
¹ Subject to meeting Shinhan Bank Canada’s usual lending criteria
Letter of Credit/Guarantee
Bank-issued letter of credit in your name that may be required in various business situations
- Letter of credit may be required when you obtain licensing from government regulators or franchisors, or when you engage in credit transactions with any business partners.
- Letter of credit will be tailored to fit your needs ¹
- Competitive, one-time fee
¹ Subject to meeting Shinhan Bank Canada’s usual lending criteria