CIBC — Business loans

• The business owner/operator has relevant industry experience.
• The applicant has personal financial investments in the company.
• The business has generated positive revenue (inflows exceed outflows) for at least 12 to 24 months.
• The applicant has a good credit score.
• The applicant can provide a detailed business plan.

Who is eligible?

• Small and medium-sized enterprises (SMEs).
• Companies in the healthcare sector.

Eligible expenses

• Purchase of equipment (asset acquisition costs), potentially up to 100% financed.
• Investment in property.
• Other large, long-term business expenses financed through a lump-sum loan.

• Verification of the applicant’s information and review of their credit profile against CIBC’s borrowing criteria.

• CIBC verifies the information provided and reviews your credit profile.
• If the application meets CIBC’s borrowing criteria, CIBC issues an approval specifying the loan amount, interest rate, and repayment term.
• After you accept the offer, you sign the required documents.
• Funds are then made available through your business bank account (for most applications, in as little as 2 days).

• Business loans may be offered with either fixed or variable interest rates.
• Loans can be secured or unsecured, depending on the application.
• The loan is available as a lump sum in CAD.
• For variable-rate loans, lump-sum payments may be made without prepayment charges (as described on the page).