Is it better to get a business loan from the bank or the government?
Depending on your situation, it may or may not be a wise thing to try to get a business loan from the bank. Government small business loans are usually offered at better interest rates, and some are completely interest free. Some government small business loans do not even need to be repaid. Also, the eligibility conditions for government loan options are different than bank ones. So, even people who have been rejected by the bank when trying to get loans within the past may be able to receive funds.
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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.
The respective Ontario government websites include information on their provided grants and assistance for business in Ontario. Some people have difficulty finding this information because …Read Full Answer
Small business owners in the British Columbia province may be able to qualify for government grants, but there are no free government grants the British …Read Full Answer
No, not all Canadian government small business loans are the same because some have different interest rates (or none at all), are intended for different …Read Full Answer
The Canadian gov makes available loans for small biz needs to those who may not be able to get the money they require otherwise and …Read Full Answer
If you are relying on information about government grants that was put out last year, you may not be getting the most up-to-date information about …Read Full Answer
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