Alberta Business Loans for Small to Mid Sized Companies
NO OBLIGATION! NO HIDDEN FEES!
Fill in your information below and one of our loan originators will contact you.
Our applications are simple and smooth. It only takes 5 minutes to gather the information we need and begin the qualification process.
We offer fair and competitive interest rates for your loans, with no hidden fees. You always have the information you need before making a commitment.
Make additional lump sum payments or pay off the full amount at any time. There are no penalties for early payment.
Services We Offer
Unsecured Business Loans for Small to Medium Sized Businesses
Alberta is known for being a strong business hub, with assertive business owners striving to not only earn a living, but also have a positive impact on the Canadian economy. Establishing a business and scaling your growth is a challenging endeavour that requires the investment of your time and money. Whether you are looking to expand your product offerings or service capabilities, an injection of cash can assist you with managing cashflow and expenses. We can assist you with acquiring business loans in Alberta that are unsecured, and don’t carry the same “years in business operation” that are typically required with traditional banking institutions.
Invoice and Purchase Order Factoring
If you run a business-to-business service and collect money based on an ageing accounts model, this particular product might be for you. Cash flow is king and keeping liquid assets in your operating bank account can be crucial to the growth of your business. Why wait 30, 60, 90, or even 120 days to get paid when you can gain access to cash immediately for the work you’ve already performed? Our invoice factoring for Alberta businesses leverages your accounts receivables at a factoring rate up to 95%. Similarly, if you have purchase orders pending and require cash to fulfill them, we can assist in funding up to 50%. Get access to cash fast.
Heavy Equipment Financing
Financing for heavy equipment purchases is available to help you replace your equipment assets or expand them as your business grows. We supply equipment financing whether you are buying from a dealer or negotiating with a private seller. Rather than paying a large sum out of pocket for your equipment acquisitions, you can save your working capital for day-to-day operations, expansions, as well as unexpected expenses. Financing or leasing your equipment provides a cost effective option that is predictable and allows you to keep cash flow available for other expenditures. Learn more about the types of equipment we are able to finance.
Is your business loaded with equipment assets, but light on liquid cash? If you are looking to balance the scales or make a new investment, we may be able to help you gain access to the equity you have in your equipment. Our lease buyback program leverages equipment you already own by buying the asset and financing it back to you. You’ll be able to continue operating your business as normal, and receive an injection of cash that you can use for investment, unforeseen expenses or to save for a rainy day. Gain access to the liquidity you need with a lease buyback.
Business Line of Credit
Depending on your needs, it may be beneficial to apply for a business line of credit as opposed to a standard loan. The benefit of using a credit line is in the nature of the revolving access to funds. This type of loan is good for meeting the short term capital needs of your business operations. For example, if you need a piece of equipment fixed, or to purchase some inventory for a new product offering. It may even be used to finance a specific marketing campaign. Regardless of the use, a small business line of credit is a flexible way to have access to funds, especially for emergency purposes.
Loans for Land Purchase and Construction
For the purpose of purchasing a lot or land for future development, we can provide financing for land acquisitions. These are typically short term loans used to secure a piece of land before a construction loan is initiated to begin development. When the time comes to begin building on the property, we can also provide commercial construction loans to see the project through to completion. Our construction loans carry custom terms, tailored to your specific needs with some of the best rates available in the market. Let’s get your commercial building project off to a great start.
Most frequent questions and answers
We are happy to find you the funding you need. Although we specialize in Alberta based business loans, we are able to provide financing for small businesses all over Canada. Simply visit the page related to the type of loan you are looking for to read instructions on the documents and information you should prepare. Then either call us, or fill out our contact form to receive a call back.
Term loans that are unsecured do not require a down payment, lien, or any type of collateral to qualify.
Our business loans can range from 3 month terms up to 5 years. Unsecured, these loans will fund up to $250,000 with competitive rates ranging from 5.9% to 26.5%.
Traditional banking institutions may require a credit score of 700 or above. However, we are able to secure loans for credit scores as low as 500.
There are many options for financing a business in Canada. Depending on the type of business and what the financing will be used for, Summit Lending has access to various types of loans, among the most common being term loans or lines of credit. However, special consideration can be given for specific financing strategies like equipment loans, or invoice factoring.