Borrow
Up to $75,000
Best part
Get funding based on your idea, not your credit history.
Qualify as a startup, pre-revenue, based on the strength of your experience and your idea, instead of only your credit score.
Get advice from our small business team and connect with third-party support that can help you plan your business.
Borrow funds as a term loan or line of credit — whatever is best for you.
First-year businesses | Second and third-year businesses | |
---|---|---|
Loan size | Up to $50,000 | Up to $75,000 |
Loan type | Term loan or combination of term loan and operating line of credit | Term loan or combination of term loan and operating line of credit |
Repayment period | 5 years if selecting term loan | 5 years if selecting term loan |
A term loan is repaid over a specific period of time by making payments on both the principal and interest. A line of credit (also known as an operating loan) requires the loan-holder to repay only the interest on the outstanding loan balance each month. A line of credit is limited to a maximum of 25% of the total approved amount.
How will you use your small business or startup loan? Here are a few ideas to get you started:
We want your business to be successful and have a positive impact on our community. If this loan sounds right for you, we’ll work with you to understand your business potential and explore financial solutions to meet your needs.
Check your eligibility
This loan is designed for small businesses in their start-up and growth stages. We prioritize those who aim to have a positive impact on the community.
Build a business plan
In order to apply for funding, you need to have a business plan. Looking for guidance? Work with one one of our community partners to develop a business plan and cashflow projections.
Meet with us
Once you have your business plan ready and complete with cashflow projections. Meet with us to discuss financing options.
You plan to operate the business in Metro Vancouver, the Fraser Valley Regional District, Greater Victoria, or the Sea-to-Sky Corridor
You or another individual agree to sign a personal guarantee. Your guarantor must be a Canadian citizen or Permanent Resident.
You meet one of the following criteria:
Your business is not within the following categories:
You must provide a written business plan with cashflow projections and financial statements (if applicable)
Browse by location, language, and other details— and pick your preferred account manager.
Browse our directoryLet us do the introductions. Choose a time that works for you, and a team member will call you to answer your questions.
Book a phone appointmentVancity is working with Futurpreneur, WeBC and BDC to empower entrepreneurs to bring their visions to life. Each group offers unique tools, resources, consultants, and expertise that small business owners can tap into. Most importantly, they can help you turn your idea into a robust business plan, including cashflow projections, to get you ready for funding applications.
Futurpreneur is the only national non-profit organization that provides young aspiring entrepreneurs across Canada with the loan financing, mentorship and resources they need to start or buy a business.
Contact Futurpreneur: 604-598-2923
WeBC is a not-for-profit supporting women entrepreneurs in BC for nearly three decades and has a unique understanding of the approaches to business and financing that work for women business owners.
Contact WeBC: hello@we-bc.ca
BDC focuses on small, medium sized, and startup businesses often underserved by traditional banks. BDC offers financing and consulting services.
Contact BDC: 1-877-232-2269
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Vancity supports businesses working hard to drive positive change in their communities. Soul Bite began as a group of volunteers who wanted to take action on hunger and food waste. For years, they used their own time and money to collect unsold food from grocery stores and redistribute it to people living with low income. With Vancity’s help they were able to expand their charity into a social enterprise that now generates funds to support their mission. You can find their award-winning vegan food in stores in Vancouver and the Lower Mainland.
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† The annual percentage rate (APR) is compounded monthly, not in advance, APR assumes no fees or charges apply. If additional fees and/or charges apply, the total Cost of Credit and APR would increase. This product, its features and advertised interest rates may change at any time and may be withdrawn by Vancity at any time for any reason without prior notice to the member.
± The Vancity Prime rate represents a variable rate of interest announced by Vancity from time to time as its Prime Lending Rate. Rate subject to change without notice.