Are business loans cheap?

Are business loans cheap?


The price and interest rate, or any kind of fees that that are associated with your business loan will vary case by case.

It will depend on:

  • The size of your business
  • Your past history with financing
  • The industry your business is in
  • How long your business has been around
  • How big your business is
  • How big of a loan you’re looking for

So, all of those things will play a role. Different lenders also deal with different types of customers. Some lenders will specialize in certain industries and business types, and will have a range of interest rates that may be higher or lower than other lenders.

So you have to really explore your options. One shoe doesn’t fit all sizes in this case, and you have to explore your particular situation and what is the right option for you.

By working with Canada’s most trusted lenders, we are able to connect you with the best business loan providers in the country. Review top business loan providers in Canada!

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.