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Commercial loans are specific to commercial entities and are used for purchasing of business property,
renovations, equipment replacement, modernizing of plant and debt consolidation.

Interest is charged on a reducing balance basis, therefore, over the term of the loan, as interest decreases,
more of the installment will be applied to the principal and the interest portion will be smaller.


Benefits

  • Expansion pressures to satisfy demand can be realized without much delay
  • Refinancing is optional
  • Effective servicing of facility establishes a good credit rating thus ensuring future credit opportunities

Features & Information

  • To qualify, the business, as well as its owners and directors must be in good financial standing.
  • Installments must fall within the debt servicing capacity of the business.
  • Extended to businesses mainly for the purchase of equipment, upgrading, expansion, etc.
  • Standing orders for loan payments can be placed on chequing and savings accounts.

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