647-348-4995
- September 16, 2026
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Mohammed Saqib
We've discussed business loans in Alberta and Ontario before. In this post, we'll talk about financing options for startups, small and medium-sized businesses in BC. Now, small businesses are the backbone of British Columbia’s economy, comprising 98% of all businesses in the province. These small enterprises play a pivotal role in generating employment and economic activity. They contribute 34% to B.C.'s GDP, the highest share in Canada, and provide nearly one-third of all jobs in the province, supporting local communities and fostering entrepreneurial spirit.
Despite their importance, these businesses often face challenges. One of the major challenges faced by these small businesses is easy access to financing when you have bad or average credit. The lack of timely financing is another major issue faced by business owners as typical financial institutions can be slow and take several weeks to review and approve your file.
While traditional banks are often reliable lenders that offer competitive rates, they often reject loan applications from small businesses as they do not meet the stringent loan criteria set out by the banks. This is where alternative lenders come in.
In this article, we will look at British Columbia’s top 10 small business loan options so that you can keep running your small business smoothly.
Disclosure: some links in this article point to lending partners of ours. If you apply through them we may earn a commission at no cost to you. It never changes our rankings.
Quick answer: in 2026, most BC small businesses get the best mix of speed and flexibility from online lenders like Merchant Growth ($5,000 to $800,000) and Journey Capital ($10,000 to $300,000), while BDC, credit unions like Vancity and community lenders such as WeBC and Community Futures remain the cheaper, slower route. Match the lender to your timeline and revenue history.
Our Top 2 Picks for Fast Funding in BC
BEST FOR ESTABLISHED SMBs
A Vancouver headquartered lender funding $5,000 to $800,000 with approvals in about 24 hours. A natural first stop for BC businesses with 6+ months of sales.
BEST FOR STARTUPS & NEWER BUSINESSES
Term loans, lines of credit and flex funding from $10,000 to $300,000 with a 5 minute application and fast decisions.
Quick Snapshot: BC Business Lenders at a Glance
| Lender | Type | Best For |
|---|---|---|
| Banks & credit unions (Vancity, Coast Capital) | Traditional | Lowest rates, slower approvals |
| Merchant Growth | Online lender | Established SMBs, fast funding |
| Swoop Funding | Broker platform | Matching loans and grants |
| Journey Capital | Online lender | Startups and newer businesses |
| Driven.ca | Online lender | Quick short term capital |
| MicroCapital.ca | Micro lender | Very small or new businesses |
| LoansCanada.ca | Marketplace | Comparing many offers at once |
| BDC | Government bank | Patient growth capital |
| WeBC | Community lender | Women owned businesses |
| Community Futures BC | Community lender | Rural and small town BC |
1. Traditional Financial Institutions
Traditional financial institutions are open to providing financing to small businesses all over BC. The banks are established lenders ensuring reliability and often provide loans at a lower cost compared to alternative lenders which we'll cover in this article. If your business has a good operating history, you can get a business loan swiftly from these institutions. If not, move on to the next ones in this list.
British Columbia offers a range of financing options for small businesses through top-tier banks with offices all over Vancouver, Victoria, Surrey, Burnaby, Richmond, Abbottsford, Kelowna, Coquitlam and other cities and towns across British Columbia.
RBC - leads with tailored solutions like term loans, business lines of credit, and advice centers.
TD Canada - provides flexible financing, including startup-focused products and cash flow management tools.
BMO - is known for its small business credit cards and quick loan approvals.
CIBC - supports small businesses with competitive interest rates and business advisory services.
Scotiabank - focuses on long-term financing and equipment loans with personalized support.
Together, these banks deliver a robust mix of financing options to help entrepreneurs in B.C. grow their ventures. Consider also the BDC loans as you may qualify for those.
2. Merchant Growth
Official Name: Merchant Growth
Website: https://www.merchantgrowth.com/
Phone Number: +1 866-240-3694
Email: clients@merchantgrowth.com
Google Reviews: 4.1/5 stars (100+ reviews)
Trustpilot: 4.8/5 stars (450+ reviews)
BBB Rating: A+
Merchant Growth is known for fast, accessible financing, with products ranging from term loans and lines of credit to merchant cash advances. Their flexible options and rapid funding (often within 24 hours) make them a popular choice among small business owners needing quick cash.
Interest rates range from 7.99% to 39.99%, which can be higher than traditional banks but reflect the accessibility and speed of funds. Repayment terms are typically daily or weekly, allowing businesses to handle cash flow more flexibly. Unlike banks, they accept bad or average credit files too.
Merchant Growth offers up to $800,000 in loan amounts. To learn more about the company, read the full Merchant Growth review here.
3. Swoop Funding
Official Name: Swoop Funding
Website: https://swoopfunding.com/ca/
Phone Number: 647 946 3001
Email: canada@swoopfunding.com
Google Reviews: 4.9/5 stars (8 reviews)
Trustpilot: 5/5 stars (370+ reviews)
Swoop Funding is a top-rated business funding platform to search for loans. Business owners can apply for loans online since the process is all-digital.
Swoop doesn’t charge businesses directly; instead, they earn commissions from partnered lenders, keeping costs low for users. This broker model also means interest rates and fees depend on the matched lender.
Swoop Funding and Sharp Shooter Funding are two similar loan options available to small businesses based in British Columbia. We did a comparison of these two alternative lenders here.
4. Journey Capital
Official Name: Journey Capital
Website: https://www.journeycapital.ca/
Phone Number: +1 877-781-0148
Google Reviews: 4.7/5 stars (130+ reviews)
Trustpilot: 4.9/5 stars (93 reviews)
Journey Capital serves small and medium enterprises with a focus on providing flexible, customized loan packages. Their quick approval process (24-72 hours) and lenient credit requirements are beneficial for businesses with less-than-perfect credit.
Interest rates vary between 8% and 29%, and the exact rate depends on the business’s financial health and credit profile.
One drawback is that a hard credit check is done when the loan seeker selects one of the credit products. Journey Capital is very similar to Merchant Growth. We did a full comparison of Merchant Growth and Journey Capital here.
5. Driven.ca
Official Name: Driven
Website: https://www.driven.ca/
Phone Number: 1-866-889-9412
Email: customerservice@driven.ca
Trustpilot: 4.6/5 stars (860+ reviews)
Driven.ca is a good option for fast small business loans, which are provided in amounts ranging from $500 to $300,000. Businesses have the option of repaying via daily, weekly, or bi-weekly installments.
Businesses have to pay back the loan amount within 3-18 months. Only exceptional cases qualify for a 24-month loan payback period.
6. MicroCapital.ca
Official Name: MicroCapital
Website: https://www.microcapital.ca/
Phone Number: +1 866-240-3694
Email: bonjour@microcapital.ca
Trustpilot: 4/5 stars (Limited reviews)
MicroCapital.ca is a loan broker based in Montreal. The company offers working capital, fixed term loans, lines of credit and flexible funds, including equipment financing and emergency funds.
The loan eligibility criteria are similar to Driven.ca and Merchant Growth. Businesses applying for loans through MicroCapital should have at least $120,000 in annual revenues.
7. LoansCanada.ca
Official Name: LoansCanada
Website: https://loanscanada.ca/
Phone Number: 1 (877) 995-6269
Email: info@loanscanada.ca
Google Reviews: 3.9/5 stars (90+ reviews)
BBB Rating: A+
LoansCanada.ca operates as a loan comparison service, connecting businesses to a variety of lenders for various financing options. The platform is free to use, allowing businesses to explore multiple offers.
Through Loans Canada, businesses can borrow up to $500,000. Even though this amount is less than what Merchant Growth offers, LoansCanada is a great pick for businesses and sole proprietorships that are looking to expand. To learn more about this lender, read our full review here.
8. The Bank for Canadian Entrepreneurs
Official Name: The Bank for Canadian Entrepreneurs
Website: https://www.bdc.ca/en
Phone Number: +1-877-232-2269
Email: info@bdc.ca
The Business Development Bank of Canada is a well-known federal institution dedicated to supporting Canadian entrepreneurs. They offer flexible business loans with competitive rates for both short-term and long-term financing.
BDC’s rates are often lower than those of private lenders, and they’re transparent with fees.
9. WeBC
Official Name: WEBC
Website: https://www.webc.ca/
Phone Number: 1 (604) 689-7184
Email: info@webc.ca
WeBC is a non-profit organization dedicated to supporting women entrepreneurs in British Columbia. They offer loans up to $150,000, along with advisory and mentoring services to women-led businesses.
10. Community Futures British Columbia
Official Name: Community Futures British Columbia
Website: https://www.communityfutures.ca/
Phone Number: 1 (604) 289-4222
Email: information@communityfutures.ca
Community Futures provides business loans and support services in rural communities throughout British Columbia. They focus on fostering local entrepreneurship and offer various loans tailored to small businesses.
Need funding for your BC business this week?
Both of our top picks give you an answer in 24 to 48 hours.
Final Thoughts: Which One to Choose?
If you are a small business owner, you would understand the difficulty small businesses face while trying to get financing to grow their business. This list provides a list of financing options available to financing options based in British Columbia. Each option has its own pros and cons, and you can make an informed decision now while keeping in mind the unique circumstances and requirements of your small business.
Financing is half the battle! If you want your BC business to grow, consider hiring a digital marketing agency which will help you increase revenue through SEO and Google Ads services in Vancouver, Victoria, Surrey, Richmond or any other BC region. If you are planning to sell products in British Columbia, consider developing a powerful Shopify site. Without proper marketing, your financing won't take you very far and will end up causing unnecessary debt.
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BC Business Loans: FAQ
What is the fastest business loan in British Columbia?
Online lenders lead on speed: Merchant Growth and Journey Capital both give decisions in about 24 to 48 hours and can fund within days. Banks and credit unions typically take weeks.
Can a new BC business with no credit history get financing?
Yes. Journey Capital works with businesses as young as 6 months, MicroCapital funds very small startups, and Community Futures offices lend to rural startups banks turn away. The CSBFP also backs bank loans for new businesses with a solid plan.
Are there business loans specifically for women in BC?
Yes. WeBC (formerly the Womens Enterprise Centre) provides loans up to six figures plus mentorship for women owned businesses across the province, and federal Women Entrepreneurship Strategy streams stack on top.
Do these lenders cover businesses outside Metro Vancouver?
All the online lenders on this list fund businesses across BC including Victoria, Kelowna, Kamloops, Prince George, Nanaimo and rural communities. Community Futures BC exists specifically for smaller communities.
Should I get a loan or a grant for my BC business?
Do both in parallel: grants are free money but slow and competitive, loans are fast and predictable. Our guide to the best small business grants in Canada covers what is actually available in 2026.
Compare Rates: Merchant GrowthCompare Rates: Journey Capital
Saqib is a Canadian business writer that holds a Master’s degree from Wilfrid Laurier University in Ottawa. He brings a strong foundation in business, accounting and finance to his work. He began his career three years ago as an investment analyst at a well-known financial firm, focusing on analyzing publicly-listed companies. Saqib employs fundamental analysis as a core part of his approach and has been featured in publications like Seeking Alpha, InvestorPlace, and Yahoo! Finance.
