A prime rate business loan is more than likely going to different than the government loans. Most often a prime rate business loan is difficult to get for a small business owner. Also with the Canadian government grants and loans programs, the loan interest rates can be lower than even the prime rate. In addition to this if a small business owner qualifies for a grant there will be no interest. Most likely because the grant will not be required to be paid back. Those small business owners need financing would do well to obtain the services of a qualified financial consultant that specializes in the grants and loans programs of the Canadian government.
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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.