About

Term Sheet North is an independent information site for owners of small and medium-sized businesses in Canada who want to understand a business loan before they apply or sign. It explains how lenders price and approve loans, what fees and conditions cost, which federal and provincial rules apply, and how to compare offers using the arithmetic a lender would use.

The site is for sole proprietors, partnerships and small corporations, from start-ups to established firms looking to buy equipment, renovate, expand or refinance. It covers bank and credit union term loans, lines of credit, the Canada Small Business Financing Program, BDC loans, leases and alternative financing, with notes on where Quebec rules differ.

We do not lend money, arrange loans, rank lenders or receive information about your application. Rates and amounts in our examples are illustrative and labelled as such. Rules are described as they apply in October 2026, with links to the official source so you can check for changes. Nothing here is legal, tax or accounting advice: for a guarantee, a security agreement, a default or a tax question, speak to a lawyer, a CPA or a Licensed Insolvency Trustee.

How this site is made

Term Sheet North is an independent information project. Guides are drafted with the help of AI writing tools and checked against official and primary sources before publication; see our Editorial Policy. We are not affiliated with any provider mentioned on the site and do not sell products or services.