28
Jul-2020

Looking for more financial support for your small business? Meridian can Help!

LiON'S LAIR, News   /   Tags:

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Meridian is here to help you access the capital you need, and take your small business to the next level.

As a proud partner and sponsor of LiONS LAIR, Meridian understands the needs of small businesses and recognizes that companies may require additional financing to kick-start their growth. For example, Meridian can help businesses navigate programs like the Canadian Small Business Financing Loan. This program is a government-guaranteed loan and allows qualified businesses to borrow up to $1 million – of that amount, up to $350,000 can be used for things like equipment purchases and upgrades, or property purchases and improvements.

Wondering who can apply? If you’re starting a small business or currently own a business with gross revenue less than $10 million, this program could be right for you. And don’t worry – Meridian is always there to help you navigate the application process and secure the financing you need, quickly and easily.

Fast Facts:

Loan Guaranteed: 85% of the loan is guaranteed by the Federal government, making it easier to get approved

Previous Purchase Eligible: If you’ve made purchases within the last six months to improve or expand your operations, you can retroactively use the loan to cover these expenses

Higher Financing Leverage: This program allows for a much higher financing leverage compared to a traditional loan – meaning you can secure more of the funds you need

Flexible Repayment: The Canadian Small Business Financing Loan offers a variety of repayment terms to fit your needs, including floating rate and amortization up to 15 years

Learn more about how Meridian’s services can support your small business by contacting a Meridian Business Advisor, by visiting meridiancu.ca or reaching out to the Team at Innovation Factory for a connection!

 

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