What is a Business Term Loan?
A term loan gives your business the funding you need to grow — whether you’re purchasing equipment, expanding your operation, buying vehicles or investing in long-term improvements. With predictable payments and flexible terms, a term loan helps your business confidently plan for what’s ahead. Plus, you’ll get guidance from Business Advisors who understand Saskatchewan businesses and are committed to helping you grow sustainably and confidently.
Why choose a Business Term Loan?
Predictable payments.
A lump sum borrowed and repaid over a set period — stability for budgeting and planning.
A term loan is a lump-sum amount you borrow and repay over a set period. It provides stability, flexibility and predictable payments — making it easier to budget and plan for growth, with a repayment schedule and payment frequency structured to match your cash flow.
Fixed or variable rates.
Fixed for predictability, variable for flexibility — your choice.
Fixed rates lock in your payment for the full term — ideal if you value certainty. Variable rates move with prime and can offer flexibility when rates hold or fall. Your Business Advisor can model both against your revenue pattern before you decide.
Build business equity.
Own your equipment and assets while preserving working capital.
Rather than draining cash reserves on a major purchase, a term loan spreads the cost over the asset’s useful life while you build equity through ownership — keeping your operating cash available for payroll, inventory and new opportunities.
What you need to know.
Loan amount.
Based on project scope, asset cost or business need.
Rate options.
Fixed rates offer predictability; variable rates can offer flexibility.
Repayment schedule.
Term length and payment frequency may vary by loan.
Eligibility.
May include financial statements, business history and credit requirements.
Loan purpose.
Equipment, real estate, vehicles or capital improvements.
Helpful tools for managing your business finances.
Common questions.
Here’s what people ask us the most.
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You receive a lump sum to fund a specific business need and repay the loan over an agreed term through regular payments of principal and interest.
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Approval is based on factors such as your business’s financial position, credit history, income, cash flow and ability to repay the loan. Your Business Advisor can help determine what financing may be appropriate.
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Yes. A Business Term Loan can be used to finance equipment and other larger purchases that help your business operate or grow.
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A Business Term Loan provides a set amount of financing for a specific purpose, while a line of credit gives you ongoing access to funds that you can draw on as needed.
Let's start the conversation.
Share a bit about what you're looking for and someone from our team will reach out within one to two business days.
