The Business Improvement Loan (BIL) is a government guaranteed loan designed to help small businesses improve or expand. RCU offers these loans under the Canada Small Business Financing Program, which exists to help small businesses like yours get established, expand, modernize and improve.
BIL features:
- no minimum borrowing requirement, with the maximum loan amount set at $500,000
- up to 90% financing for eligible business related assets
- fixed or variable rates
- flexible repayment options
- amortizations of up to 10 years
- expenditures and assets purchased up to 180 days prior to the loan approval date are eligible for financing
While you'll need to meet the eligibility requirements of the program, your loan will be processed in branch and handled quickly and confidentially by a lending specialist who understands your goals.
