Would I be better to go with prime rate business loans than a government loan?

When you are looking for financing for your small business it is often difficult to know which type of loan to go for. Often new business owners or small business owners will wonder if the prime rate business loans would be better than the government loans. Although the prime rate business loans are a good deal, quite often small businesses will not qualify for these types of loans. Ideally an individual that has a small business that is looking for a loan should check out all of the options that are available with the Canadian government loans and grants program. Most often they may be able to qualify for a grant which means that it won’t have to be paid back or at the very least one of the loans that has a lower interest rate than maybe even the prime rates will be available to you.

If you are looking to find funding for your small business in Canada, one of the easiest ways to find funding is to get access to our Funding Database where we have over 1,500 funding programs including government grants, loans, financial assistance programs as well as private investor options. Take the right step forward and start the search for funding now by becoming a member of CanadaStartups!

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.