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Commitment to Business

Learn about our credit process and how we strive to develop relationships with small and medium sized enterprises (SMEs).

Join the 59,000+ members who bank with us!


We're committed to serving you

Small and medium-sized enterprises (SMEs) play such an important role in Canada's economy.

Developing and fostering long-term relationships is the foundation of our commitment to service. We build on this commitment by identifying:

  • the standards we embrace as an organization,
  • the way we conduct ourselves, and
  • how we will continue to treat you as we work to maintain your trust.

Long term relationships are not confined to the ones we build with members. We take pride in the relationships we cultivate with industry experts within the communities we serve. Our team will always strive to provide the advice and knowledge that you need. When scenarios arise that expertise in a specific area needs to be resourced, we leverage the strong partnerships we have built with these industry experts. It's through our values of Community, Knowledge, Team and Service that we ensure our SME members get the best advice possible for their businesses.

We live our values

  • Integrity - We say what we do; we do what we say.
  • Team - We are successful together.
  • Respect - We are courteous and concerned.
  • Accountability - We take ownership.
  • Community - We are involved and proud of it.
  • Knowledgeable - We have the answer for you.
  • Service - We deliver excellence. Members first!

Relationship built on mutual trust

Relationship is the difference when you’re banking with Innovation. Relationships are built on mutual trust. It’s more of a partnership, which makes it easier to build together when things are on the upswing and keep things moving forward when challenges come along. Your personal track record, character and commitment all count with us, not just the math.

Here are some critical items to ensuring that your business gets the most out of its relationship with us.

Credit Process

  • Each credit application will be judged on its own merits. The more we know about your financial situation, the better equipped we are to help meet your financial needs.

  • Your loan request will be completed with a Business Advisor. It should be accompanied by a business plan. If you need assistance, your Business Advisor can provide you with guidelines on how to prepare a business plan and the key elements necessary to obtain credit (such as collateral security). 

  • You can expect clear communications as to the financial information that we require in order to make an informed decision. The loan request needs to be accompanied by financial data that demonstrates past performance. If the business is new, we may require information on the employment history and income of the principal owners.

  • The size and complexity of the loan request will determine the type of information that is required to review the application, and how long it takes to be reviewed and reach a decision. Your Business Advisor will provide an estimate of how long it will take before a credit decision will be made.

When the credit application is approved

When your application for credit is approved, you'll receive

  • The terms and conditions of the financing including the information and documentation needed both before and after the loan is granted. This information will be provided in writing upon your request.

  • Documents that are written in clear and understandable language.

  • Transparent communications regarding all fees that are applicable to the credit application.

  • Any professional fees associated with preparation of the documentation will be paid by the borrower. Your Business Advisor will provide you with an estimate.

If the credit application is declined

If an application for credit is declined, you'll receive information about:

  • The main reason(s) for the decision.
  • The requirements necessary for us to reconsider the application.

Information about sources of alternative financing, which could include federal and provincial government programs, venture capital, or Business Development Bank of Canada (BDC) programs, is available on our Funding Business Growth page.

Changing circumstances in the credit relationship

  • If your business experiences a change in circumstances that results in financial difficulties, we will carefully review the credit arrangements before deciding if any action should be taken.

  • You will be informed about the need for on-going, additional information.

  • You will also be told when changes are made to the terms, conditions, and fees that are specific to the credit relationship.

Rest assured all of our employees adhere to these commitments.

Service Concerns

Our goal is to provide an excellent customer service experience. However, we know that things can sometimes go wrong. As part of our commitment to you, we have implemented a formal problem resolution process to deal with these situations.

If you have a concern about the service we provide or the product lines we offer, we want to hear from you.