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Business Loans in Manitoba

  • chAccess to over 50 lenders in one place
  • chTransparency in rates & terms
up Last updated

September 05, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

Find the right business financing in Manitoba. Compare term loans, lines of credit, equipment financing, and government-backed options, estimate payments, and apply online in minutes.

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AMOUNT
$5K - $500k
INTEREST RATE
Varies
TERMS
5 -9 Months
AMOUNT
$10K - $1.5M
INTEREST RATE
From 7.99%
TERMS
3 - 24 Months
AMOUNT
$5K - $500K
INTEREST RATE
Varies
TERMS
4 - 12 Months
AMOUNT
$10,000 - $300K
INTEREST RATE
From 8.39%
TERMS
3 - 24 Months
AMOUNT
$5K - $300K
INTEREST RATE
From 7.99%
TERMS
Fixed, 4 - 18 Months
AMOUNT
$5K - $800K
INTEREST RATE
From 7.99%
TERMS
6 - 24 Months
AMOUNT
$15K - $1M
INTEREST RATE
From 8%
TERMS
3 - 24 Months
AMOUNT
$5K - $500K
INTEREST RATE
From 9.99%
TERMS
2 - 24 Months
AMOUNT
$5K - $500K
INTEREST RATE
From 7.99%
TERMS
6 - 24 Months
AMOUNT
$5,000 - $5 Million
INTEREST RATE
Varies
TERMS
12 months
AMOUNT
$5K - $50M
INTEREST RATE
From 7%
TERMS
5 - 96 Months
AMOUNT
$2.5K - $1M
INTEREST RATE
From 7.5%
TERMS
3 - 72 Months
AMOUNT
$5K - $2M
INTEREST RATE
From 7.99%
TERMS
2 - 36 Months
AMOUNT
$5K - $300K
INTEREST RATE
From 7.99%
TERMS
3 - 12 Months
AMOUNT
$250 - $1M
INTEREST RATE
From 10%
TERMS
3 - 60 Months

Business Loans in Manitoba — Compare Options, Estimate Payments, Apply Online

Find the right business loan in Manitoba for your company. From small business loans and equipment financing to lines of credit and agriculture lending, compare options, check eligibility, and use our interactive tools to plan your financing.

Understanding Business Financing in Manitoba

Whether you operate in Winnipeg, Brandon, Steinbach, Thompson, or a rural community, Manitoba business loans can fund inventory, equipment, hiring, marketing, or expansion. Choices include bank term loans, credit union loans, government-backed programs, equipment loans and leases, lines of credit, and revenue-based products from alternative lenders.

Working Capital

Smooth cash flow, cover seasonal dips, bulk-buy inventory

Equipment & Vehicles

Finance machinery, farm equipment, trucks, technology

Growth & Expansion

Open locations, renovate, launch new product lines

Tip: Match the loan term to the asset life. Short-term needs fit lines of credit; long-lived assets fit multi-year term loans or leases.

Eligibility for Small Business Loans in Manitoba

Lenders assess repayment ability through your financials, credit, time in business, and collateral. Startups can qualify with a strong plan and realistic projections.

  • Registered business operating in Manitoba
  • Business bank statements and financials
  • Owner credit history and debt obligations
  • Proof of revenue or signed contracts
  • Collateral or personal guarantee for larger amounts

What improves approval odds

  • Consistent cash flow and positive trends
  • DSCR of 1.25 or higher
  • Up-to-date tax filings and AR/AP aging reports
  • Clear plan for use of funds and ROI

Business Loan Calculator — Manitoba

Estimate payments on a small business loan in Manitoba. Use presets or customize amount, APR, term, and frequency. Values auto-format for readability.

Apply online

DSCR Checker — Debt Service Coverage Ratio

Quickly gauge loan readiness. Many lenders look for a DSCR of around 1.25× or higher.

Types of Business Loans in Manitoba

Term Loans

Lump-sum financing with fixed or variable rates over 2 to 10 years. Best for renovations, acquisitions, or large equipment purchases.

Lines of Credit

Revolving limit for short-term needs. Pay interest only on what you use. Ideal for seasonal working capital and inventory.

Equipment Financing and Leasing

Finance machinery, vehicles, or tech upgrades. Match term to asset life. Leasing may reduce upfront cash outlay.

Commercial Mortgages

Purchase or refinance commercial real estate. Amortizations can extend beyond 10 years with balloon terms.

Agriculture & Agribusiness

Producers can finance land, inputs, livestock, and equipment with schedules aligned to crop or herd cycles.

Government & Community Programs

Explore options from BDC, Community Futures Manitoba, and industry funds that support startups and rural businesses.

Typical Rate and Cost Ranges in Manitoba

Illustrative ranges to help compare products. Your actual offer depends on credit, collateral, cash flow, and time in business.

Bank term loan
~5–9%
Credit union
~6–10%
Alt lender term
~9–24%
Merchant cash advance
Varies (higher)
ProductBest forTypical termNotes
Unsecured term loan Growth projects, marketing, hiring 2–5 years Fixed payments simplify budgeting
Secured term loan Larger amounts at lower rates 3–10 years Collateral required; understand lien and covenants
Equipment finance Machinery, vehicles, tech 3–7 years Match term to asset life; consider residuals with leases
Line of credit Seasonal cash flow, inventory Revolving Interest only on funds used; annual reviews common

Figures are for illustration and education. Confirm current rates and fees with your lender.

How to Apply for a Business Loan in Manitoba

  1. Define your funding need and minimum viable amount to accomplish the goal.
  2. Gather YTD financials, last two years of statements, and projections.
  3. Prepare a concise business plan outlining use of funds and expected ROI.
  4. Check personal and business credit; address discrepancies early.
  5. Compare at least three offers for APR, fees, covenants, and prepayment terms.
  6. Review the agreement and ensure payment fits your cash flow cycle.

Pro Tips for Manitoba Small Businesses

  • Time applications after strong months to showcase momentum.
  • Lower utilization on business credit cards before applying.
  • Offer collateral when possible to reduce rate and increase limit.
  • Keep a separate business bank account to make underwriting easier.
  • For farms, align payments to crop or quota cash flow to avoid strain.

Business Loans Manitoba — FAQ

What credit score do I need for a small business loan in Manitoba

Many lenders prefer owner scores of 650+, but secured loans, strong cash flow, or government-backed programs can provide options below that threshold.

Can startups qualify without two years of financials

Yes. Bring a clear plan, realistic projections, owner resumes, and evidence of market demand. Community and government programs may help.

Is a line of credit better than a term loan

Use a line for short-term or seasonal needs. Use a term loan for long-lived assets or projects with multi-year payback.

How much down payment is needed for equipment

It varies by asset and credit. Many equipment lenders offer low down payments if collateral value and business financials are strong.

What is DSCR and why does it matter

Debt Service Coverage Ratio compares cash flow to debt payments. A DSCR of 1.25× means you generate 25% more cash than required to service debt, a common target.

Can Indigenous entrepreneurs access specialized programs

Yes. Manitoba has Indigenous-focused funds and support via Community Futures organizations. Ask about mentorship and grant components.

How fast can funds be received

Simple unsecured loans can fund in days after approval. Secured loans and commercial mortgages take longer due to appraisals and legal work.

Can I repay early without penalties

Some lenders allow partial or full prepayment. Check your agreement for prepayment rules or admin fees.

av
writtenWritten by:

Amy Orr

Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.

av
writtenReviewed by:

Jenna West

Jenna West is Smarter Loans' in-house financial writer and content director. She has been covering the Canadian FinTech and finance industry since 2017, including financial trends analysis, industry surveys, regulatory updates and changes in Canadian consumer behaviour when it comes to finance.

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