Tick off the documents, numbers and contract checks a Canadian lender will want, before and after you receive an offer.
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This checklist follows the order in which most Canadian banks, credit unions, caisses and BDC ask for information: who the business is, how it has performed, what the money is for, whether the cash flow can carry the payment, and who stands behind the loan. The last group is for the offer stage, when the term sheet or commitment letter arrives.
How to use it. Tick each item as you gather it; your ticks are saved in this browser only. Gather the financial items before you approach a lender: an application with two years of statements, a forecast and a clear use of funds is usually answered faster than one built up over several rounds of questions.
Worked example. A two-location bakery seeking $250,000 for ovens and a lease fit-out would attach supplier quotes, the lease, two years of reviewed statements, a forecast showing the new payment (about $3,897 a month at an illustrative 8% over 7 years) and a debt service coverage ratio above the lender's minimum.
Limits. Lenders differ. A start-up loan relies more on the owner's credit, experience and plan; a loan to buy a business needs the purchase agreement and the target's statements. See the application checklist guide.
Worked Examples and Checklists
The documents a Canadian bank, credit union or BDC will ask for, the numbers to work out before you apply, and what to check in the offer before you sign.
Mistakes, Problems and Official Sources
What to do after a Canadian lender declines your business loan: how to get the reason, the usual causes, a worked example of restructuring a request, and where else to apply.
Mistakes, Problems and Official Sources
The most expensive mistakes in Canadian small business borrowing, from unlimited guarantees and demand clauses to mismatched terms and factor-rate advances, with fixes for each.
Rates, Costs and 2026 Rules
What security a Canadian lender takes on a business loan, how a GSA and PPSA registration work, what a personal guarantee really commits you to, and what to negotiate.
