Accessibility Quick Links
Access funds
Pay interest only on what you use
Take advantage of business opportunities
How do I qualify for a business line of credit?
- You are a certified skilled trade professional
- You have industry experience
- You’ve invested your own money in your company
- You have a good credit score
- Your business generates positive earnings, meaning your inflows exceed your outflows, for at least 12 to 24 months
- You may also share your detailed business plan if available
Business line of credit at a glance
Line of credit amount
Currency
Starting from $10,001
CAD
Interest rate
Preferred variable rates2 on unsecured lending
Flexible options
Secured or unsecured2 Learn more about secured and unsecured lines of credit. Opens a popup.
Steps to start borrowing
Contact your Relationship Manager or call us
If you already work with one of our Relationship Managers, contact them for all your business needs. To find your Relationship Manager, sign on to CIBC Online Banking® for Business.
If you don’t have a Relationship Manager, our team of business advisors available virtually can support you with specialized advice that all modern businesses need.
If you have questions about sales or products, call 1-866-992-7223 Opens your phone app..
Monday to Friday: 8:00 am to 8:00 pm ET
Saturday: 10:00 am to 7:00 pm ET
Get a decision
We'll verify your information and review your credit profile. If your application meets our borrowing criteria, you'll get approved for a specific amount with a specific interest rate and repayment term.
Receive funds
After you accept your offer and sign a few documents, you can start using your money directly from your business bank account. Get funds in as few as 2 business days for most unsecured applications.4
Fee summary
Monthly fee:
Setup fee5:
$25 to $125
$150 to $1,000
Renewal fee6:
$50 to $150
Amendment fee7:
$150
Interest rate
Rates differ from borrower to borrower. Before approving you for an interest rate, we review certain criteria. These include your credit score, detailed business plan, personal investments in your business and overall financial health.
Repayment
Variable rate business line of credit:
You're only required to make the minimum interest payment each month.