Is a loan or grant better for a Canadian business?

A Canadian business may be able to benefit from a loan or grant. Each program is different and has its own eligibility requirements and intended uses. Loans also have different interest rates, terms and repayment schedules. Grants typically require more time and effort to be approved for than do loans, although the former have the benefit of not needing to be repaid. On the other hand, most government loans are more favourable than bank options.

How much funding does your small business need? Are you looking to fund your startup or existing business? Get started now with your funding search with our Funding Database. With over 1,500 funding programs and $612,676,848 in available funding, you should not wait. Register as a member today!

You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.