Enjoy affordable financing.
Our competitive lending rates will help you:
- Expand your business
- Build your inventory
- Purchase equipment
- Improve your cash flow
Get more than just lending advice.
Your business advisor will guide you through the entire borrowing process. They’ll also help you with every need your business has!
You’ll gain more than a great loan with us. You’ll build a partnership that lasts the life of your business.
Pick what works best for you.
Choose from a variety of lending options:
- A line of credit
- Equipment financing
- Inventory financing
- Operating financing
- Leasing
More Information
- Available for agricultural/business use, non-land assets only
- Interest compounded annually
- Minimum credit limit - $5,000
- Term length up to 10 years
- Applicable application fees
Earn cash for everyday banking.1
With our Member Rewards program, you’ll earn cash dividends by having your business loan with us.1 The more you bank with us, the more you benefit!
Business Loans and Financing That Work for You
Businesses will always require funding to start operating and continue to grow as time goes on.
Unfortunately, revenue and financial needs don’t always align. Seasonality, peaks and valleys in sales, expensive emergencies, inventory costs, and other issues can leave businesses without the working capital needed to move forward.
Applying for a business loan can help your company smooth out the rough edges of its finances. Business lending, along with leasing and financing options as well as lines of credit, offers paths toward success. Business owners can secure the inventory or equipment they need, fund a major growth opportunity, recover from an unpredictable disaster, and more.
Let’s review some common questions about these lending options, from how to get a business loan to which type of company loan or financing is best for your operations.
Common questions about lending options
How can I get loans for my business?
- Available for agricultural/business use, non-land assets only
- Interest compounded annually
- Minimum credit limit - $5,000
- Term length up to 10 years
- Applicable application fees
What is the best loan for business?
There’s no right answer to this question. The best loan for your business depends on everything from company size and industry to specific needs and financial position.
That said, our broad range of loans and financing options can address many business needs. Options include:
- Financing: Fund equipment, inventory, and operating expenses with business financing.
- Quick Loan: Apply once for this revolving line of credit and enjoy lower interest rates and fast deposit of funds.
- Line of credit: Give your business a safety net with a line of credit tied to your business chequing account.
- Leasing: Get access to the equipment your business needs, with the option to purchase it outright at the end of the lease.
Are small business loans hard to get?
Not every business will qualify for a small business loan or line of credit. That said, finding a financial institution willing to work with you, instead of viewing you as just another application, can be a major asset.
Our experienced advisors can steer you toward the right business loan option for your company. They can support you in making smart business and financial decisions, building a valuable partnership that goes beyond banking.
Innovation is proud to support businesses throughout the communities we serve. The first step to securing a business loan is to share some information about your business and its needs. Then, we can help you find the loan or financing option that can help you move forward.
Terms & Conditions
1Member Share & Member Rewards
All Member Reward distributions are not guaranteed and are at the full discretion of Innovation Federal Credit Union's (Innovation) Board of Directors and the Office of the Superintendent of Financial Institutions (OSFI).
Redemptions of Membership Shares for any reason are not guaranteed and are at the full discretion of Innovation's Board of Directors and the Office of the Superintendent of Financial Institutions (OSFI).
Membership Shares are capped at $5,000 (personal members) and $10,000 (business members). All balances held in the Member Rewards account exceeding these amounts are fully accessible to members and are not treated as capital to Innovation.
Dividend rates, allocation rates or any other factors impacting distribution of Member Rewards are subject to change without notice.