1st Choice Savings

Loans & Line of Credit

Loan

Give your business the flexibility to grow whether you need an operating loan to help with the day-to-day expenses or you want to make major improvements to your farm operation.

Term Range: 1 - 7 years

Interest Rate: Variable or fixed

Repayment Schedule: Flexible terms

Features:

Loans are generally used to finance purchases such as:

Equipment or vehicles
Expansion or renovation
Lump-sum working capital
Inventory

Line of Credit

Enjoy financial flexibility to manage your cash flow with a line of credit that can be paid down and used again as your business grows and changes.

Term Range: Revolves automatically

Interest Rate: Variable or fixed

Repayment Schedule: Flexible terms

Features:

Lines of credit are typically used to cover daily expenses such as:

Rent
Inventory
Payroll
Daily operations

Borrow smart with a loan or line of credit!

Whether you're looking to manage day-to-day expenses or want to expand your business, a Loan or Line of Credit can help provide the financing you need.

Work with us and together let's make your business dreams a reality.

While they sound similar, they aren’t. A good starting point is to ask yourself why you need to borrow money. Is it to fund a one-time purchase, or to provide yourself with an ongoing financial buffer? You can't re-borrow from a loan, while a line of credit has a limit you can draw from, repay, and draw from again.

Fixed Rate
A fixed interest rate stays the same for the term chosen. It’s ideal if you’re looking for set payments, and want to know exactly when the loan will be paid off.

Variable Rate
A variable interest rate changes whenever our prime rate changes. It’s ideal if you’re not worried about changing interest rates, and want to benefit when interest rates decrease.
If interest rates decrease, more of your regular payment goes towards your principal, so you can pay off your loan faster.

If interest rates increase, more of your regular payment goes towards interest, and amortization period will increase. Your regular payment may have to be adjusted periodically.

On average, you can expect to pay approximately 25% of the eligible expense, due at the time of purchase. You may wish to talk with one of our representatives for more information.

Our lending experts will review your credit history and experience, as well as your short and long-term financial goals to help you find the best borrowing option for you.

Leasing

Leasing is a financing alternative that allows you to update your farm equipment without investing the full purchase price.

Credit Cards

Discover variety of credit cards designed with your business in mind.

Learn More

Mutual Funds

We provide access to a diverse group of mutual funds through Credential Asset Management Inc. and Credential Securities that can help you match your investment goals.

Learn More

Mutual funds and related financial planning services are offered through Credential Asset Management Inc. Online brokerage services are offered through Qtrade Direct Investing, a division of Credential Qtrade Securities Inc. Qtrade and Qtrade Direct Investing are trade names and trademarks of Aviso Wealth. Qtrade Guided Portfolios is a trade name of Credential Qtrade Securities Inc. Aviso Wealth Inc. ('Aviso') is a wholly owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five Provincial Credit Union Centrals and The CUMIS Group Limited. The following entities are subsidiaries of Aviso: Credential Qtrade Securities Inc. (including Credential Securities, Qtrade Direct Investing, Qtrade Advisor, Qtrade Guided Portfolios and Aviso Correspondent Partners), Credential Asset Management Inc., Credential Insurance Services Inc., Credential Financial Strategies Inc., and Northwest & Ethical Investments L.P.