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Business Loans Saskatchewan, Canada

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up Last updated

October 11, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

Growing a business is a wonderful and complicated process. When it’s time for your business to buy new space or equipment, a small business loan in Saskatchewan is the perfect solution. Though there are several solutions available for getting business loans, the traditional route is not always the fastest or most convenient. The best solution to getting small business financing in Saskatchewan is an online business loan. Saskatchewan business loans offer you a variety of payment terms, allowing you to find a loan that suits the status of your business. These loans also come with decent interest rates to help your business move forward. Approval is fast and easy, and you will see the money in your business account in a matter of days.

Compare Lenders

AMOUNT
$5K - $500k
INTEREST RATE
Varies
TERMS
5 -9 Months
AMOUNT
$5K - $1M
INTEREST RATE
5 to 25%
TERMS
6 to 48 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
$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
$1,000 - $1.5M
INTEREST RATE
From 2% per Month
TERMS
1 - 12 Months
AMOUNT
$5K - $300K
INTEREST RATE
From 7.99%
TERMS
3 - 12 Months
AMOUNT
$250 - $1M
INTEREST RATE
From 10%
TERMS
3 - 60 Months
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Frequently Asked Questions

How do I get a business loan in Saskatchewan?


You have several options when you are looking for a business loan in Saskatchewan. The first step to getting a loan is deciding where you’ll get it from.

First, you should try to find out if you are eligible for any government loans or grants. There are local institutions that help local business owners through grants. These grants and loans are the least expensive options you will be able to find. If you qualify for any of them, you should consider these options.

If you are not eligible for a government-sponsored financing option, you still have other options available. Traditional lenders like banks can get you reasonable rates while offering you great personal service. If you go to the bank that your business accounts are open with, they will already have access to your financial information and can offer you personal advice and service.

If you need money in a rush and/or your credit score isn’t perfect, you can still go to an alternative lender. In fact, alternative lenders will offer you the fastest service. They will also deal with the broadest range of borrowers but might have higher interest rates.

 

Are there any provincial government business loan programs for Saskatchewan-based businesses?


If you’re looking for funding, you should consider programs like these:

  • Community Futures: Saskatchewan
  • Operation Entrepreneur
  • Western Canada Business Service Network
  • Women Entrepreneurs of Saskatchewan

 

How do I apply for a business loan in Saskatchewan?


Applying for a business loan in Saskatchewan only takes a few simple steps. After you’ve decided which lender to apply to, you just need to:

1. Send the lender an application
2. Wait for the lender’s response
3. If they send an offer, review the terms they are offering you
4. Send a full application with required documentation
5. The lender will send you the funds and your first payment becomes due

 

What are the eligibility criteria for a business loan in Saskatchewan?


Your eligibility for a loan depends on the lender you go to. Alternative lenders usually have the lowest requirements. On the other hand, government grants and credit unions usually have the most specific requirements. Most lenders want you to be in business for at least 6-12 months and have monthly sales of $5,000 or more.

Almost all lenders will want to see your:

  • Credit score
  • Business documents including financial statements
  • Government ID

Different lenders will ask for different information. Of course, this is particularly true when it comes to business financial information. Most will want to see your revenue for the last three months.

 

How fast can I get a business loan in Saskatchewan?


This depends entirely on the lender you go to. Government programs will usually take the longest for approval. Banks will take anywhere from a week to over a month. Alternative lenders are the fastest, usually taking just a few business days. Some alternative loans can send the money sent to your account the next business day, but the cost of borrowing may be higher.

 

How big of a business loan can I get in Saskatchewan?


You can get a large loan if you have good credit in Saskatchewan. Every lender will be willing to lend you more money if your credit score is high and you have healthy financials for your business. Having a large and consistent revenue will also help qualify you for a larger loan. Most business loans can go as high as $300,000 to $500,000.

 

Can I get a business loan with bad credit in Saskatchewan?


Yes, you can find bad credit loans in Saskatchewan. Many alternative lenders will still lend you money, but they will view you as a riskier borrower. For a lender, more risk means higher rates.

If you choose to look for a bad credit loan in Saskatchewan, you can expect higher rates which can still come with a fast approval.

Expert Review & Editorial Standards

This page was researched, written, and reviewed by financial professionals with expertise in Canadian lending regulations. All information is regularly updated to reflect current rates, terms, and regulatory changes.

Jenna West
Reviewed By

Jenna West

Financial Writer & Content Director

Jenna has covered the Canadian FinTech and consumer lending industry since 2017. She specializes in regulatory updates, consumer protection, and helping Canadians navigate complex financial products.

  • 8+ years analyzing Canadian consumer lending
  • Monitors FCAC and provincial regulatory changes
  • Specializes in personal loans and alternative lending
Amy Orr
Written By

Amy Orr

Financial Content Specialist

Amy is a financial writer with 10+ years covering Canadian, U.S., and U.K. financial markets. She holds a Masters in Finance from the University of Edinburgh Business School and formerly worked in the hedge fund sector.

  • Masters in Finance, University of Edinburgh
  • Former hedge fund professional
  • Published in major financial publications

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Last Updated: October 11, 2025 | Next Review: Ongoing monitoring

Awesome G. profile pictureAwesome G.
04:46 26 Feb 25
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