UPDATED 05/15/25
YOUR COMPANY IS LOOKING FOR BUSINESS CREDIT LINE FINANCE!
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Financing & Cash flow are the biggest issues facing businesses today
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7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Oakville, Ontario
L6J 7J8
LOOKING FOR THE BEST BUSINESS CASH FLOW SOLUTION FOR YOUR BUSINESS?
Business line of credit lenders offer one of the most valuable types of funding required by all types of businesses in Canada to cover day-to-day business expenses.
WHAT IS A BUSINESS CREDIT LINE
Business credit lines allow businesses to draw down on approved credit facilities as funds are required in the ongoing day-to-day operations of the business.
These funds are used to cover current obligations and short-term expenses of the business and allow access to needed cash flow.
Eligibility requirements for a corporate credit line will vary based on the type of lender and any unique needs of the business.
This financing mechanism for business allows a company to know they have the resources to fund working capital and growth needs to fund sales revenues and investment in accounts receivable and inventory.
Finding Financial Flexibility When Your Business Needs It Most
Struggling to manage your business's fluctuating cash flow needs while pursuing growth opportunities?
Business line of credit lenders offer a financial lifeline that adapts to your company's dynamic requirements without the rigidity of traditional loans.
When unexpected expenses arise or seasonal dips affect your revenue, having access to flexible capital can mean the difference between stalling operations and seizing opportunities.
7 Park Avenue Financial understands these challenges and provides expert guidance to help Canadian businesses secure the right financing solution.
Uncommon Takes on Business Line of Credit Business Loan Lenders
- Beyond the Banks: While major financial institutions dominate the lending landscape, alternative business line of credit lenders often provide more accommodating terms for businesses with unique growth patterns or seasonal operations—something traditional risk assessment models frequently overlook.
- Relationship-Based Approval: Your company's existing banking relationships and payment history can sometimes matter more than credit scores when applying with certain business line of credit lenders, creating opportunities even for businesses with less-than-perfect financial histories.
- Strategic Debt Management: The most successful businesses don't avoid credit lines—they strategically maintain them at optimal utilization rates/interest costs (typically 30-40%) to simultaneously boost credit profiles while keeping emergency funds accessible.
USES OF THE BUSINESS CREDIT LINE
It allows a business to, in effect, monetize sales via the financing of receivables, inventory... or both, as opposed to a ' lump sum ' business loan/term loan with fixed or minimum monthly payments.
Interest charges on a term loan are fixed, and the credit amount will vary. Most lenders in traditional finance focus on total credit quality and repayment terms/payback on the funds you need. Let's dig in.
BENEFITS OF LINE OF CREDIT SOLUTIONS
The benefits of the line of credit solutions in Canada include access to a revolving facility with a fixed limit that gives the business need short-term capital to fund day-to-day operations which include purchasing materials and inventory, funding payrolls, financing sales and marketing, and accessing capital during periods of seasonality or cyclicality in the industry in which the company operates.
BUSINESS CREDIT LINES IN CANADA
When financed properly, these
allow a business to sell more of their product and or services -
Revenue and the resulting receivables and inventory are converted into the business lifeblood - cash flow. A secured business line requires pledging specific assets; unsecured business credit lines are general in nature, on all business assets, typically when it comes to available credit needs.
The type of facility that your firm is eligible for is ultimately decided by the 'risk profile' of your business
That same 'risk profile' will determine the sort of security your lender (a bank or a commercial finance company ) requires and, as importantly, how they will manage the facility to keep your business in good standing.
THE ' ABL SOLUTION '
The business owner/manager should realize that there are different varieties of commercial credit line facilities. For example, more and more firms turn to ' ASSET BASED LENDING ' as an alternative to the Canadian chartered bank revolving credit facility.
Asset-backed facilities are secured lines of credit where specific assets of the business are used as collateral for the credit facility. Typical assets secured under these facilities are accounts receivable, inventory, and fixed assets of the business. Secured lenders focus on the liquidity of the assets.
LEVERAGING SALES REVENUES AND ASSETS FOR CASH FLOW!
One of the interesting features of this facility is that more assets (for example, equipment or real estate - if applicable) can be a part of leveraging your assets for cash flow and working capital.
Your regular business bank account is used for the entire process. Interest rates are typically higher, but your facility will always provide more liquidity 99% of the time. New customers and contracts can easily be taken on, given the increased ability to finance sales revenues.
We'll add that even the banking community caught onto this one.
Many of our major banks have specialized Asset-based lending businesses - although some debate how different they, in fact, really are from a standard bank offering when it comes to bank statements around asset-based financing and more flexibility for short-term funding needs.
Most business owners recognize that a bank interest rate will always reflect a solid borrowing cost when they qualify for bank financing solutions.
BANK CREDIT REQUIREMENTS VERSUS ASSET-BASED LENDERS
From the bank's perspective, it's, of course, all about risk, and that demands their ability to ensure requirements met for a credit line include business financial statements that demonstrate profits, cash flow, clean balance sheets, and personal commitment of owners - aka the dreaded ' personal guarantee. '
Bank facilities are generally unsecured business credit lines - specific assets of the business themselves are not collateral for the facility, as banks take a general lien on the company, as well as placing a focus on the personal guarantee and net worth and credit history of business owners.
Bank interest rates are the lowest and most competitive in the financial markets for companies qualifying for bank financing.
Bank capital is unlimited when it comes to credit limit needs and numerous solid ancillary services such as online banking, forex, etc. Credit history and business performance are key requisites of bank credit approval.
Bank, of course, places a significant emphasis on personal credit score. As a rule, asset-based financing does not include a small business loan/business funding. A good credit score is typically a 650+ at credit bureaus in Canada.
Many commercial finance firms compete with banks and credit unions for what we call ' subsets ' of the bank credit facility for small businesses.
That might be:
A/R financing
Inventory financing
Merchant cash advance /short-term working capital loan providers
Small firms even use business credit cards / online lenders as a temporary line of credit - hardly the best use of business credit, but a necessity sometimes and easily accessible
MORE LIQUIDITY / ACCESS TO CAPITAL
Traditional bank financing typically provides funding for A/R and inventory.
This is done by monthly borrowing bases established based on the value of those two ' current assets ' on the balance sheet.
A Canadian-based business should always be able to achieve a higher limit with ' abl financing,' as well as credit decisions for an increase in facility size made very promptly.
The type of working capital/cash flow finance that your business needs is often determined by factors such as seasonality bulges in sales revenue and their timing recognition, or simply the general ' operating cycle ' of the business, with different industries having different cycles and peculiarities.
Asset-based finance provides you with a borrowing base to establish a monthly statement around your borrowing needs, which typically vary depending on your firm's business model.
In a perfect world (is there one?), solutions from the business line of credit lenders (banks/commercial finance companies) will allow your company to convert sales into cash, allowing the facility to revolve via receipts and outflows in your business accounts. Exactly what you are looking for!
In some cases, a permanent working capital term loan from Canada's government-owned non-bricks and mortar bank might also solve a problem - it simply depends. These loans are repaid from predictable cash flows.
Case Study: Manufacturing Company Leverages Business Line of Credit
When a Burlington-based precision parts manufacturer faced a significant opportunity to supply components for a major automotive contract, their excitement quickly turned to concern. The contract required substantial upfront investment in materials and equipment modifications, but payment terms included 60-day delays after delivery.
"We had the expertise and capacity, but not the working capital to bridge the gap," said the CFO.
"Traditional loans weren't suitable because we needed flexibility to draw funds for various expenses at different times."
After consulting with 7 Park Avenue Financial, the company secured a $350,000 business line of credit against their existing equipment and accounts receivable.
This allowed them to:
- Purchase specialized materials in bulk at 22% discount
- Modify production equipment without disrupting existing operations
- Maintain regular payroll during the production ramp-up
- Bridge the 60-day payment gap from their new major client
The results were transformative. The company successfully fulfilled the initial contract, leading to three additional orders. Their revenue increased by 37% within 12 months, and they've since expanded their facility and hired seven additional employees.
KEY TAKEAWAYS
- Credit lines fundamentally differ from loans by providing flexible access to capital with interest applied only to funds used, creating significant cost efficiency for businesses with variable needs.
- Understanding your debt service coverage ratio (operating income divided by debt obligations) helps determine appropriate credit line limits that support growth without creating unmanageable financial strain.
- Most businesses significantly underestimate optimal credit line amounts, failing to secure sufficient capital for genuine growth opportunities while focusing too narrowly on minimum operational needs.
- Secured credit lines leveraging existing business assets typically offer interest rates 3-7% lower than unsecured alternatives while providing substantially higher available credit limits.
- Regular communication with your lender about changing business conditions can prevent credit line reductions during economic downturns when access to capital becomes most critical.
- Alternative lenders often approve applications rejected by traditional banks by evaluating qualitative factors beyond standard credit metrics, including business model strength and management experience.
- Maintaining credit utilization below 40% of your available limit dramatically improves both future borrowing terms and overall business credit scores.
- Specialized industry lenders develop a deeper understanding of unique business cycles, creating more accommodating terms for seasonal operations that general lenders might consider high-risk.
- Approval speed often correlates inversely with interest rates—faster funding typically commands premium pricing while longer application processes generally yield more favourable terms.
- Personal credit scores critically impact business credit line approvals and terms, with every 50-point improvement potentially reducing interest rates by 1-3 percentage points.
CONCLUSION - UNSECURED BUSINESS LINE FUNDING NEEDS
Small business always needs capital and liquidity - no secret there. It is a valuable tool for successful financial performance with flexible financing from non-bank firms instead of traditional lenders.
Looking for a ' detour ' in the business fork in the road for the right type of business credit line?
Call 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you with funding options and ongoing access to working capital that both make sense and are attainable. We will work with you to streamline the application process and identify additional documentation and information relating to approval.
FAQ: FREQUENTLY ASKED QUESTIONS / PEOPLE ALSO ASK / MORE INFORMATION
What is a business credit line?
A Credit Line for business is an excellent way to get the funds you need while still allowing yourself some wiggle room. A traditional credit line offers flexibility and low-interest rates, making it a good option when dealing with ongoing expenses or those occasional large purchases that may come up from time to time.
Business lines of credit are offered by traditional financial institutions such as banks, business credit unions, commercial financing companies and asset-based lenders. Businesses should be able to demonstrate proper financial statements and business growth and the need to fund short-term capital.
Should A Business Get a term loan or a business revolving credit line?
Choosing a term loan or credit line is based on your business needs, as each works differently.
A small business term loan provides you with the specific amount needed for one-time expenses such as purchasing equipment and inventory. A good rule would be if it's large purchases, then consider getting into long repayment plans which give more control over when exactly all these bills need payment, while still maintaining accessibility through emergency loans should things go south midstream.
Term loans are fixed amounts of financing and are viewed as lump sum loans with regular fixed installments and defined amortization periods - Business credit lines will offer more flexibility allowing a business to use and pay for funds only as needed - Lenders prefer business credit lines to fluctuate around the ongoing use of the facility to provide funds and replenish the facility with cash inflows from the collection of receivables.
What are the eligibility requirements for a line of credit?
The eligibility requirements for a line of credit will vary by the type of lender, but all businesses should be prepared to provide key business documentation such as articles of incorporation/business licences and historical and interim business financial statements and business chequing account/bank account information. Most companies will benefit by providing a business plan to the lender that helps validate the general financial health of the business. Business plans should demonstrate revenue growth potential and the experience of management and owners, as well as financial projections that demonstrate the ability to repay debt.
Who provides business lines of credit in Canada?
Business lines of credit in Canada are provided by traditional banks (RBC, TD, BMO, Scotiabank, CIBC), credit unions, online lenders (Lending Loop, Thinking Capital), and specialized financial originators like 7 Park Avenue Financial. Each lender offers different qualification requirements, interest rates, and credit limits tailored to various business sizes and industries.
What documentation do lenders require for a business line of credit application?
Documentation requirements for business line of credit applications typically include business financial statements (balance sheets, income statements, cash flow statements) for the past 2-3 years, business tax returns, bank statements, business plan, accounts receivable/payable aging reports, and personal financial information from business owners. Having these documents well-organized demonstrates financial preparedness and can expedite your approval process.
How quickly can a business line of credit be approved?
Approval times for business lines of credit vary significantly by lender. Traditional banks may take 2-4 weeks for processing and approval, while alternative financing specialists like 7 Park Avenue Financial can often provide approvals within 24-48 hours for qualified applicants. Factors affecting speed include your business's financial documentation readiness, credit history, and the complexity of your business operations.
Where should businesses look beyond traditional banks for credit lines?
Beyond traditional banks, businesses should explore credit unions, online fintech lenders, industry-specific lenders, equipment financing companies that offer revolving credit, and specialized business financing firms like 7 Park Avenue Financial. These alternative sources often provide more flexible qualification criteria, faster approval processes, and personalized service compared to major financial institutions.
Why do seasonal businesses particularly benefit from credit lines?
Seasonal businesses particularly benefit from credit lines because they provide crucial working capital during low-revenue periods without requiring fixed monthly payments like term loans. This flexibility allows seasonal operations to manage inventory purchases, maintain staffing levels, and cover fixed expenses during off-peak seasons while only paying interest on funds used, creating a perfect alignment with fluctuating cash flow patterns.
How does a line of credit differ from a traditional business loan?
A line of credit differs from a traditional business loan in its fundamental structure and flexibility. With a line of credit, you receive access to a predetermined amount of capital that you can draw from as needed, paying interest only on the funds you use. Traditional loans provide a lump sum amount with fixed repayment terms regardless of when or how you use the money. This key difference makes credit lines ideal for managing unpredictable expenses or opportunities.
What interest rates do business line of credit lenders typically charge?
Interest rates for business lines of credit typically range from prime plus 1-5% for bank-offered credit lines to 7-15 % for alternative lenders, depending on your business credit profile, revenue history, and time in operation. The strongest applicants with established businesses and excellent credit may qualify for rates as low as 4.5-7%, while newer businesses or those with challenging credit histories might face rates of 10-20% or higher. Different lenders structure rates differently, with some offering fixed rates and others variable rates tied to the prime rate.
When is the best time to apply for a business line of credit?
The best time to apply for a business line of credit is when your business is financially stable and before you actually need the funds. Application timing is critical—lenders are more likely to approve your application when your business shows consistent revenue, strong cash flow, and minimal existing debt. Applying 3-6 months before anticipated cash flow needs gives you adequate time for application processing, comparison shopping among lenders, and addressing any potential issues that might arise during underwriting.
Where can Canadian small businesses find government-backed credit lines?
Canadian small businesses can find government-backed credit lines through the Business Development Bank of Canada (BDC), which offers flexible financing solutions with favourable terms. Additionally, the Canada Small Business Financing Program partners with financial institutions to guarantee a portion of qualifying business loans and credit facilities. Export Development Canada provides specialized credit solutions for exporters. Regional development agencies like Western Economic Diversification Canada or FedDev Ontario also offer location-specific programs. 7 Park Avenue Financial can help navigate these options to find the right fit for your business.
Why do lenders place such emphasis on accounts receivable when evaluating credit line applications?
Lenders place significant emphasis on accounts receivable when evaluating credit line applications because receivables represent imminent incoming cash that directly impacts your ability to service debt. Strong receivables with reliable customers and short collection timeframes (30-45 days) demonstrate effective cash flow management and reduced lending risk. Accounts receivable aging reports reveal customer payment patterns and potential collection issues. Many lenders also use receivables as collateral for secured credit lines, making their quality and liquidity directly relevant to the lending decision.
How do business line of credit lenders determine your credit limit?
Business line of credit lenders determine your credit limit by analyzing several factors including annual revenue (typically offering 10-20% of annual revenue), business credit score, time in operation (with businesses over 2 years receiving more favorable consideration), debt service coverage ratio (ideally 1.25 or higher), accounts receivable quality, and existing collateral value. They also evaluate industry risk factors and your banking relationship history. Lenders aim to provide sufficient funding while ensuring the debt remains manageable within your cash flow constraints.
Which industries typically face challenges securing business lines of credit?
Industries that typically face challenges securing business lines of credit include restaurants and hospitality businesses (due to high failure rates), construction companies (because of project-based revenue), startups under two years old (lacking financial history), seasonal businesses with irregular cash flow, cannabis-related businesses (regulatory complications), retail stores facing e-commerce disruption, and certain service businesses without significant physical assets. These industries often benefit from working with specialized lenders like 7 Park Avenue Financial, who understand their unique cash flow patterns and financing needs.
Who qualifies for unsecured business lines of credit in Canada?
Qualifications for unsecured business lines of credit in Canada typically include businesses with at least 1-2 years of operation, minimum annual revenues of $100,000-$150,000, personal credit scores above 680 for business owners, and debt-to-income ratios below 40%. Lenders also consider business credit scores, positive cash flow history, and industry stability. Stronger qualifications in these areas may offset weaknesses in others. Unsecured credit lines generally offer lower limits than secured options but provide greater flexibility without requiring specific collateral.
What alternatives exist if traditional business line of credit lenders reject your application?
Alternatives if traditional business line of credit lenders reject your application include merchant cash advances (based on credit card sales rather than credit history), invoice factoring (selling receivables for immediate cash), equipment financing using existing assets as collateral, online alternative lenders with more flexible criteria, business credit cards for smaller amounts, peer-to-peer lending platforms, and supplier financing arrangements. 7 Park Avenue Financial specializes in finding appropriate alternatives when conventional lending options aren't available to Canadian businesses.
How do revolving credit lines differ from non-revolving business credit facilities?
Revolving credit lines differ from non-revolving business credit facilities in their fundamental structure and flexibility. Revolving lines allow you to borrow, repay, and reborrow funds repeatedly up to your credit limit throughout the term, similar to a credit card. Non-revolving facilities provide one-time access to funds with no ability to reborrow after repayment. This key distinction makes revolving lines ideal for ongoing working capital and cyclical business needs, while non-revolving facilities work better for specific one-time expenses or projects requiring fixed funding amounts.
Why should businesses maintain credit lines even during profitable periods?
Businesses should maintain credit lines even during profitable periods because they provide crucial financial flexibility and emergency preparedness without immediate cost (when unused). Maintaining open credit lines strengthens your business credit profile, demonstrates financial stability to potential investors or buyers, secures favourable terms while your business is strong (rather than when desperate), provides immediate funding for unexpected opportunities or challenges, and serves as a strategic buffer against market volatility or economic downturns. The minimal costs of maintaining an unused credit line are vastly outweighed by these significant benefits, including assisting in a business purchase.
How can a business line of credit provide better cash flow management?
Business line of credit provides better cash flow management by creating a flexible financial buffer that helps balance the timing mismatch between incoming revenue and outgoing expenses. This financing tool allows you to cover operational costs during seasonal downturns or while waiting for client payments without disrupting normal business operations. You can strategically time inventory purchases to take advantage of volume discounts or supplier promotions, even when current cash is limited. The revolving nature of credit lines means your available capital automatically replenishes as you make repayments on the approved credit balance, creating ongoing flexibility that static loans cannot match.
What makes business line of credit lenders different from traditional term loan providers?
Business line of credit lenders differ from traditional term loan providers in their fundamental approach to financing. Credit line providers offer flexible funding that can be accessed in varying amounts as needed, with interest charges applying only to funds actually used. Term loan providers deliver one-time lump sums with predetermined payment schedules regardless of when you use the money. Credit lines typically feature variable interest rates and renewable terms, while term loans often have fixed rates and defined endpoints. The application evaluation also differs, with credit line lenders placing greater emphasis on cash flow patterns and business stability than on specific project outcomes.
When would a business choose a line of credit over other financing options?
A business would choose a line of credit over other financing options when facing variable or unpredictable funding needs rather than a specific one-time expense. Credit lines prove ideal for managing seasonal fluctuations, covering short-term operational gaps, handling emergency expenses, or capitalizing on unexpected opportunities that require rapid access to capital. They're particularly valuable for businesses with irregular revenue cycles, companies that need to make frequent small-to-medium purchases, and operations seeking to optimize cash flow without committing to fixed monthly payments when funds aren't actively being used.
Where do secured business lines of credit offer advantages over unsecured options?
Secured business lines of credit offer advantages over unsecured options, primarily in their more favorable terms and higher available limits. By leveraging business assets as collateral, secured credit lines typically feature significantly lower interest rates (often 3-7% lower than unsecured alternatives), higher credit limits that better match substantial business needs, longer repayment terms for improved cash flow management, and more flexible qualification requirements that might accommodate businesses with shorter operating histories or developing credit profiles. 7 Park Avenue Financial can help determine if the improved terms justify the collateral commitment for your specific situation.
Why is establishing a business line of credit before you need it critically important?
Establishing a business line of credit before you need it is critically important because approval becomes significantly more challenging when your business is already experiencing financial pressure. Lenders evaluate applications most favorably when your business demonstrates strength and stability, not desperation. Pre-established credit lines remain available during economic downturns when new lending often freezes. The application process requires substantial documentation and time that may not be available during urgent situations. Having this financial safety net in place beforeens your negotiating position with suppliers and clients by ensuring ongoing operational stability regardless of short-term challenges.
Is a personal guarantee required for business line of credit applications?
Personal guarantees are typically required for business line of credit applications, especially for small to medium-sized businesses without substantial assets or lengthy operating histories. This requirement makes business owners personally responsible for repaying the debt if the business cannot meet its obligations. While some established businesses with strong financials and significant assets may qualify for non-guaranteed credit lines, most Canadian lenders require this additional security measure. The personal guarantee typically remains in effect until the credit line is closed or renegotiated, even if your business situation improves substantially after the initial approval.
How are interest rates calculated on drawn funds from a business line of credit? Interest rates on drawn funds from a business line of credit are calculated based on the daily outstanding balance rather than the total approved credit limit. Most Canadian lenders use a variable rate structure of prime plus a margin (e.g., Prime + 2.5%), with the specific margin determined by your business credit profile, time in operation, and revenue stability. Interest accrues only on the actual amount used, calculated daily but typically billed monthly. Some lenders offer interest-only payment periods, while others require minimum principal payments alongside interest. This calculation method ensures you only pay for the exact capital utilized, creating significant cost advantages over fixed-loan options.
Can startups or new businesses qualify for lines of credit?
Startups or new businesses face significant challenges qualifying for traditional lines of credit due to their limited operating history and unproven revenue patterns. Most conventional lenders require at least 1-2 years in business and demonstrated profitability. However, specialized options exist for newer ventures, including secured credit lines backed by specific assets (equipment, inventory, or real estate), founder-guaranteed lines based on strong personal credit, revenue-based financing for businesses with consistent sales but short history, and startup-focused alternative lenders. New businesses should focus on building strong personal credit, maintaining detailed financial records, and developing banking relationships while exploring these specialized financing avenues.
How do business line of credit lenders evaluate applications differently from term loan providers?
Business line of credit lenders evaluate applications with greater emphasis on cash flow consistency and management quality rather than specific project outcomes. Credit line underwriters thoroughly analyze your accounts receivable turnover rate, seasonal revenue patterns, and working capital efficiency, looking for evidence of disciplined financial management. They place significant importance on deposit account behaviours, including average daily balances and overdraft history, as these directly indicate cash flow management capabilities. Unlike term loan providers who focus heavily on debt service coverage ratios for specific loan amounts, line of credit lenders evaluate your ability to manage revolving debt responsibly, placing greater weight on past credit utilization patterns and repayment behaviors on existing revolving accounts.
Why do some business owners prefer working with specialized finance companies over banks for credit lines?
Business owners increasingly prefer specialized finance companies like 7 Park Avenue Financial over banks for credit lines because these focused lenders offer significantly faster approval processes (days versus weeks), more personalized service from specialists who understand specific industry challenges, more flexible qualification criteria that consider factors beyond conventional metrics, higher approval rates for businesses with shorter histories or developing credit, specialized knowledge of Canadian market conditions and regulatory environments, and more customizable terms that align with unique business models or seasonal patterns. Additionally, specialized lenders often maintain consistent lending standards during economic downturns when banks typically tighten credit availability precisely when businesses need it most.
ABOUT 7 PARK AVENUE FINANCIAL
7 Park Avenue Financial originates traditional and alternative financing and asset-based financial services providers that offer lease financing, cash flow and working capital financing, and business acquisition loans.
The company works closely with clients to develop key business strategies based on their unique needs. The company is committed to providing the highest level of customer service and innovation to help businesses succeed.
Combining our experience and solutions, we help our clients achieve profitable cash flow and debt financing and streamline the process with a full range of credit offerings.
Citations on Business Line of Credit Lenders
- Business Development Bank of Canada. (2024). "Financing Solutions for Canadian Businesses." BDC Entrepreneur's Guide to Financing. https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/templates-business-guides/glossary/pages/business-line-credit.aspx
- Canadian Federation of Independent Business. (2023). "Access to Financing Report: Small Business Perspective." CFIB Research Papers. https://www.cfib-fcei.ca/en/research/banking-and-financing
- Statistics Canada. (2024). "Survey on Financing and Growth of Small and Medium Enterprises." Government of Canada. https://www.statcan.gc.ca/en/survey/business/2941
- Ernst & Young. (2023). "Canadian Business Financing Trends: Alternative Lending Market Analysis." EY Financial Services. https://www.ey.com/en_ca/financial-services/banking-capital-markets
- Deloitte. (2024). "The Future of Business Lending in Canada." Deloitte Financial Services Industry Reports. https://www2.deloitte.com/ca/en/pages/financial-services/topics/banking-and-capital-markets.html
