Business term loans for Quebec companies

A business term loan gives you a lump sum to finance a specific project for your company, which you then repay in regular instalments over a set term. It is the most traditional form of financing for growth projects.

Prêt Rapide saves you from repeating the same process with several institutions: one application is enough to be connected with the partner lenders likely to finance your project.

How does a business term loan work?

The lender reviews your application, then proposes an amount, a term, a rate and a payment schedule. Once the offer is accepted and the agreement signed, the funds are deposited into your business account and you repay principal and interest on the agreed schedule.

The term and cost depend on the lender, the amount requested, the financial health of your business and, in some cases, the collateral offered. Read every offer carefully and compare the total cost before committing.

Common uses

• Opening a new location or expanding your premises
• Launching a new product or service
• Renovating or redesigning your business
• Hiring and training staff to support growth
• Consolidating existing debts to simplify your payments

Who is a business term loan for?

A business term loan is designed for established businesses with a defined project and enough revenue to handle regular payments. It works especially well when you know from the start how much you need.

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

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