How to Access Growth Capital Without Giving Up Equity
Most growing businesses don't need a VC term sheet — they need a lender who actually understands their revenue model. We go from application to commitment letter in 12 business days. Purpose-aligned amortization is standard. Pre-payment flexibility is standard. And you'll never be routed to a call centre.
$780M+ in commercial lending facilitated since 2014. Serving businesses from $500K to $75M in annual revenue across Ontario, Saskatchewan, and Manitoba.
Lending Products Built Around How Your Business Actually Works
Every facility we structure starts with a conversation about your cash conversion cycle, not a checkbox matrix. Each product below can be combined, staged, or customized — because growth rarely fits a template. Need help choosing? Our lending guides walk you through each option in plain language.
Commercial Operating Lines of Credit
$100K–$15M revolving facilities designed to smooth the gap between when you deliver and when you get paid. Margined against accounts receivable and inventory with advance rates typically at 75–90% of eligible A/R and 50–65% of finished goods inventory. Seasonal augmentation available for businesses with predictable revenue cycles — we increase your limit for peak months and scale back during off-seasons, so you're never paying for capacity you don't need. Demand facility structure with semi-annual reviews. Online borrowing base certificates can be submitted through your client dashboard.
Term Lending & Capital Expenditure Financing
From 12 months to 20 years, with fixed, floating, or hybrid rate structures. The distinguishing feature here is purpose-aligned amortization: if the asset you're acquiring generates revenue over 7 years, we structure your repayment to match that timeline — not an arbitrary schedule that strains early-stage cash flow. We include commercial appraisal review as part of the assessment, and we can blend multiple asset acquisitions into a single facility to reduce your administrative overhead. Suitable for real estate, major equipment, fleet expansion, and technology infrastructure. Explore our business banking services that complement term lending.
Recurring Revenue-Based Lending for SaaS & Subscription Businesses
Traditional lenders don't know what to do with a business that has $4M in ARR but no physical assets to pledge. We do. Our recurring revenue facilities range from 3x–6x your monthly recurring revenue, with covenants tied to net revenue retention (NRR) and annual recurring revenue (ARR) — not tangible net worth or personal guarantees on your house. We integrate directly with billing platforms like Stripe, Chargebee, and Zuora for real-time monitoring, which means faster renewals and fewer reporting headaches for your finance team. Ideal for Series A through growth-stage companies that want to extend runway without dilution.
Project & Contract Bridge Financing
Self-liquidating facilities collateralized against signed contracts and government receivables. Unlike traditional lending, we assess the creditworthiness of your payor — not just your own balance sheet. This means a 15-person consulting firm with a federal government contract can access the same quality of financing as a company ten times their size. Typical facility sizes range from $250K to $5M with terms of 3–18 months. Ideal for construction firms waiting on progressive billing, consulting companies with delayed government payment cycles, and creative production studios bridging the gap between project milestones. Draws can be structured against contract phases to match your delivery schedule.
Commercial Construction Loans That Keep Your Project on Schedule
Progressive draw facilities structured around your construction timeline — you request draws as you hit milestones, so you're only paying interest on capital you've actually deployed. Interest-only during the construction phase keeps your carrying costs predictable. At completion, the facility converts automatically to a term loan at pre-agreed rates, eliminating the refinancing scramble that derails so many projects. Loan-to-value ratio requirements are defined upfront in your commitment letter — no surprises at the appraisal stage. We work with independent quantity surveyors and can accommodate draws on 5 business days' notice. Available for ground-up commercial builds, major renovations, and mixed-use developments.
Canada Small Business Financing Program (CSBF) Loans
Government-backed loans up to $1M for equipment purchases and leasehold improvements, and up to $350K for real property improvements. The CSBF program dramatically reduces collateral requirements — in most cases, the financed asset itself serves as the primary security. This makes it one of the most accessible lending options for newer businesses or those without significant unencumbered assets. Our average approval timeline is 15 business days — well below the national average. We handle the Innovation, Science and Economic Development Canada registration process on your behalf and have maintained a 94% first-submission approval rate since 2018. Particularly well-suited for restaurants, retail, health practices, and professional services firms opening new locations.
Camille Ouellette, Co-Founder & Creative Director, ÉclatVR Studios Inc."Saskatoon Banking didn't just fund our project — they made it possible for a 21-person VR studio to deliver a national museum exhibit. That bridge facility model has become our growth engine. I had no idea what to expect when we first applied, and I wish I had done this sooner. Our credit officer, Marcus, actually visited our studio, watched a demo, and understood what we were building before he ever looked at a spreadsheet."
Transparent Rates — No Surprises, No Hidden Fees
We publish our rates because we believe you should be able to model your cost of capital before you pick up the phone. Every rate below is indicative — your actual rate depends on credit assessment, facility structure, and collateral. But you'll never encounter a fee that wasn't disclosed in writing before you sign.
Rates effective January 15, 2026. Subject to change without notice.
| Product | Rate Range | Term Range |
|---|---|---|
| Operating Line of Credit | Prime + 0.50% to Prime + 2.75% | Revolving (annual review) |
| Term Loan — Fixed | 5.45% – 7.20% | 1–20 years |
| Term Loan — Variable | Prime + 0.75% to Prime + 2.50% | 1–20 years |
| Equipment Financing | Prime + 0.75% to Prime + 2.25% | 2–7 years |
| Commercial Vehicle Financing | Prime + 0.75% to Prime + 2.00% | 2–7 years |
| Commercial Mortgage — Fixed | 5.25% – 6.80% | 5–20 years |
| Commercial Mortgage — Variable | Prime + 0.50% to Prime + 1.75% | 5–20 years |
| Commercial Construction Loan | Prime + 1.00% to Prime + 2.50% | 12–36 months |
| Recurring Revenue Facility (SaaS) | Prime + 2.00% to Prime + 4.00% | 12–36 months (renewable) |
| Bridge / Project Finance | Prime + 1.50% to Prime + 3.50% | 3–18 months |
| CSBF Program Loan | Prime + 1.00% (govt. prescribed) | Up to 10 years |
Current Prime Rate: 5.95% (as of January 15, 2026)
Not sure which product fits your situation? Download our free Commercial Lending Decision Guide or speak with a credit officer — no obligation, no sales pressure.
How We Get From Application to Funding in 12 Business Days
The average Canadian business waits 45–90 days for a commercial lending decision. Our process is designed to eliminate the bottlenecks that cause those delays: rotating analysts, committee backlogs, and document re-requests. Here's exactly what happens after you apply.
Discovery & Intake (Day 1–2)
You submit your application through our online form or directly to your relationship manager, along with supporting documents (two years of financial statements, interim financials, A/R and A/P aging reports, and a brief business plan or project summary).
Your dedicated credit officer acknowledges receipt within 4 hours and schedules a 30-minute intake call to understand your goals, timeline, and any nuances that don't show up on a balance sheet. Every application is assigned to a single credit officer who stays with you from intake through funding and beyond — no handoffs, no "your file has been reassigned" emails.
Credit Assessment & Business Health Index (Day 3–7)
Your credit officer conducts a thorough review of your financials, including ratio analysis, cash flow modelling, and industry benchmarking. If you're within the Ottawa region, they'll visit your operation in person — we believe you learn more in 45 minutes on a shop floor than in 45 pages of projections.
Simultaneously, we run our proprietary Business Health Index: a 47-metric diagnostic that evaluates financial resilience, operational efficiency, market positioning, and management depth. Collateral valuation summaries are prepared by our in-house team or independent appraisers as appropriate. A preliminary assessment — including any questions or document requests — is issued within 24 hours of completing the review. Most clients receive this by Day 6.
Facility Structuring & Commitment Letter (Day 7–10)
This is where our approach diverges most from traditional banks. Rather than fitting your business into a pre-packaged product, we design the facility around your specific needs — selecting the right rate structure (fixed, floating, or hybrid), term length, covenant package, amortization schedule, and any special provisions such as seasonal augmentation, milestone-based draws, interest-only periods, or accordion features for future expansion.
Your credit officer walks you through the draft commitment letter in a 45-minute call, explaining every term in plain language. We encourage you to share the letter with your accountant or legal advisor — and we're happy to speak with them directly. Revisions, if needed, are typically turned around within 24 hours.
Documentation & Funding (Day 10–12)
Once you sign the commitment letter, legal documentation is completed with Simone Delacroix's in-house legal team. Because we handle documentation internally rather than outsourcing to external counsel, we avoid the 2–4 week delay that plagues most commercial lending closings. Security registrations are filed, insurance confirmations are verified, and funds are made available to your business account.
Average total elapsed time: 12 business days. For straightforward facilities under $1M with strong financials, we've closed in as few as 7 business days. Complex multi-tranche facilities or those requiring third-party appraisals may take 15–18 business days — still a fraction of the industry norm.
Industry comparison
12 days vs. 45–90+ days
Saskatoon Banking vs. average national bank timeline for commercial lending decisions
What to Have Ready Before You Apply
The number one reason lending timelines stretch beyond 30 days? Incomplete documentation. Here's exactly what we'll need — no more, no less — so you can gather everything before your first call.
📄 For All Applications
- Two most recent years of financial statements (reviewed or audited preferred; compilation accepted for facilities under $500K)
- Year-to-date interim financial statements (within 90 days)
- Accounts receivable and accounts payable aging reports
- Business plan or project summary (2–5 pages is sufficient)
- Corporate organizational chart and ownership structure
- Personal net worth statement for guarantors (if applicable)
- Most recent corporate tax return (T2)
📎 Product-Specific Documents
- Operating Lines: 12-month cash flow projection and borrowing base details
- Term Loans: Asset quotes, vendor invoices, or purchase agreements
- SaaS/Revenue Facilities: MRR/ARR dashboard export, churn metrics, and billing platform access
- Construction: Project budget, permits, contractor agreements, and site plans
- Bridge Financing: Signed contracts and payor credit references
- CSBF: Itemized list of equipment or leasehold improvements with vendor quotes
Missing something? Don't let that stop you. Start a conversation — we'll tell you exactly what we need.
Common Questions About Our Lending Process
Do you require personal guarantees?
It depends on the facility and the borrower's financial profile. For established businesses with strong balance sheets and operating histories of 3+ years, we can often structure facilities with limited or no personal guarantees. For newer businesses or higher-risk structures, personal guarantees may be required — but we'll always discuss this transparently during the structuring phase. CSBF program loans have reduced personal guarantee requirements by design (capped at 25% of the original loan amount).
Can I prepay my loan without penalty?
Yes. Pre-payment flexibility is standard on all variable-rate facilities — you can pay down or pay out at any time without penalty. Fixed-rate term loans and commercial mortgages may carry a yield maintenance or interest rate differential (IRD) provision, but these are clearly disclosed in your commitment letter before you sign. We don't bury prepayment penalties in fine print.
What industries do you specialize in?
Our 620+ business clients span over 40 industries, but we've developed particular depth in technology (SaaS, fintech, cleantech), professional services (consulting, legal, engineering), construction and real estate development, healthcare and life sciences, and creative industries (film, VR, digital media). Our credit team includes specialists who understand sector-specific revenue models, which is why we can move faster than generalist lenders.
What's the minimum revenue to qualify?
We serve businesses generating $500K to $75M in annual revenue. For businesses below $500K in revenue, our CSBF program loans are often the best fit — they're government-backed and have more flexible qualification criteria. If you're a startup with pre-revenue SaaS metrics (ARR trajectory, signed LOIs), reach out — we've structured facilities for early-stage companies on the strength of their recurring revenue pipeline.
Do I need to move my operating accounts to Saskatoon Banking?
Not necessarily. While there are pricing advantages to consolidating your business banking with us (typically 15–25 basis points on your lending rate), we don't require it. Many of our clients maintain their day-to-day accounts at another institution and use Saskatoon Banking specifically for lending and treasury management. We'd rather earn your full relationship over time than demand it upfront.
What is the Business Health Index?
The Business Health Index is our proprietary 47-metric diagnostic that evaluates your business across four dimensions: financial resilience, operational efficiency, market positioning, and management depth. Every lending engagement includes a complimentary BHI assessment — it takes approximately 5 business days to complete and gives you actionable insights about your business regardless of whether you proceed with a loan. Many clients tell us the BHI alone was worth the conversation. Learn more in our resources section.
Raj Patel, CFO, Northern Corridor Logistics Inc."We'd been with RBC for eleven years and spent four months trying to get a $2M equipment line approved. Saskatoon Banking had us funded in nine business days. Nine. The commitment letter was clearer than anything I'd seen in my career, and Simone's legal team made the closing painless. We've since moved our operating accounts over too — the rate improvement alone saves us $34K annually."
Find Out What You Qualify For — in One Conversation
Every engagement begins with a complimentary Business Health Index assessment — 47 metrics, zero obligation, delivered in 5 business days. Whether you need $100K or $15M, the first step is the same: a 30-minute call with a credit officer who already understands your industry.
No application fees. No commitment to proceed. Just clarity on your options and what it would take to move forward.
Or call us directly: (415) 457-1089 — same-day callbacks guaranteed.
Important Disclosures
Saskatoon Banking Ltd. is a federally regulated financial institution and a member of the Canada Deposit Insurance Corporation (CDIC). Eligible deposits are insured up to applicable CDIC limits.
Service fees may apply to certain accounts and transactions. Please refer to our Schedule of Fees and Service Charges for complete details, available at any branch or upon request.
Saskatoon Banking Ltd. | Registered Office: 199 Clemow Avenue, Ottawa, Ontario K1S 1Z3 | Federal Business Registration No. BN-7741829053 | OSFI Institution Code: L-2298
Regulated by the Office of the Superintendent of Financial Institutions (OSFI) under the Bank Act (Canada). Licensed to accept deposits and make loans in all Canadian provinces and territories.