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Business line of credit for Quebec SMEs

A business line of credit gives you access to a credit limit you draw from whenever you need it. You generally pay interest only on the amount used, and each repayment frees up that amount again for future use.

It is a flexibility tool: rather than borrowing a fixed amount for a specific need, you have a financial cushion to handle surprises and cash flow swings.

How does a business line of credit work?

The lender sets a limit based on your profile. You make withdrawals as needed, up to that limit, and repay according to the terms of the agreement. Some products require periodic minimum payments, while others repay each draw over a fixed term.

Fees may apply at opening, on each draw or on the unused limit, depending on the lender. The offers you receive detail these terms.

Common uses

  • Managing seasonal swings in revenue
  • Paying a supplier quickly to take advantage of a discount
  • Covering an unexpected expense, such as an urgent repair
  • Bridging the gap while waiting for clients to pay
  • Keeping a reserve available for business opportunities

Who is a business line of credit for?

A line of credit suits businesses whose cash needs are recurring but irregular, and that want quick access to funds without applying again every time.

Eligibility criteria

To apply through Prêt Rapide, your business must meet the following criteria:

  • At least 6 months in business
  • At least $10,000 in monthly revenue
  • Business registered in Canada (incorporated, partnership or sole proprietorship: all structures accepted)

Applying with Prêt Rapide

  • Amounts from $10,000 to $1,000,000
  • No impact on your credit score when you apply
  • Free service for your business
  • Response within 24 hours

Frequently asked questions

Both are revolving credit, but a business line of credit generally lets you transfer funds directly to your bank account. That makes it useful for payroll, suppliers and other expenses that cannot be paid by card.

Generally, interest applies only to the amounts used. Some lenders may, however, charge opening or maintenance fees: review the terms of each offer.

Some lenders review the limit after a period of regular repayments or if your revenue grows. This depends on the lender.

Other financing solutions

Working capital

Cover your operating expenses and manage your cash flow without interrupting your activity.

Business term loan

Grow your business, buy a space or finance an expansion with a term loan.

Bridge financing

A short-term solution to cover an immediate need while waiting for more permanent financing.