Loans & Lines of Credit
Finance your day-to-day business operations and cover emergency expenses with a loan or line of credit.

Finance your expansion, cover operating expenses, or purchase new equipment with rates and terms that give your business the flexibility to grow.

Term Range: 1 - 5 years

Interest Rate: Variable or fixed

Repayment Schedule: Flexible terms


Loans are generally used to finance business purchases such as:

  • Equipment or vehicles

  • Expansion or renovation

  • Lump-sum working capital

  • Inventory

Lines 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


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, 1st Choice can help provide the financing you need.

Contact us to make your business goals a reality.

Frequently Asked Questions

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.

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.

Fixed Rate

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

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 the 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. For more personalized advice, feel free to talk with one of our representatives.

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Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Online brokerage services are offered through Qtrade Direct Investing. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc.
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