Credit Line for business

Right for you if:

  • You want readily available, low cost financing
  • You want to establish a record of financial responsibility
  • Low cost credit
    Borrow up to $250,000 CAD (up to $500,000 if hard security is provided).
  • Interest payable monthly; no set prepayment schedule for principal
  • Unsecured lines of credit available

PLUS:

All account activity is recorded on one monthly statement.

We can also supply a note loan, letter of guarantee, standby letter of credit or commercial letter of credit.

Learn more about Credit Line for agriculture.

Features

  • Credit up to $250,000 CAD (up to $500,000 if hard security is provided)
  • Exact dollar borrowing to keep interest expenses down
  • Interest payable monthly; no set prepayment schedule for principal
  • Competitive floating interest rate tied to Scotiabank's prime lending rate
  • Unsecured lines of credit available
  • Optional life insurance

Benefits

  • You decide when and how much to borrow and you only pay interest on the borrowed amount.
  • You can access funds at a Scotiabank branch or by using any of our electronic banking services.
  • When you make a deposit to your account, it will automatically reduce your borrowed amount and interest charges.

Ready to apply

What do I need to apply?
  • 1 Apply using our online application, if the annual sales of your business are up to $15,000,000. Qualifying Criteria.