Canada’s Lowest Cost Small Business Loans Terms & Conditions

Canada’s Lowest Cost Small Business Loans

Terms & Conditions:

1. The borrower must meet Loop Funding's standard application and loan funding requirements.
2. The borrower must provide a copy of a written loan agreement executed no later than 28 days from the date of the loan issued by Loop Funding.
3. The lender who provides the loan with a lower interest rate must provide an unsecured business term loan that is denominated in Canadian dollars. Only lenders that are legally operating and licensed (where applicable) to provide loans to businesses are acceptable for the purposes of this promotion. The borrower and its principals may not have any prior relationship with the lender or its principals who provides the loan carrying a lower interest rate. The borrower may not induce the lender to provide a lower rate through other means (such as purchasing a tied product or service).
4. Offer applies to loans with terms of 3 months to 5 years with blended payments of principal and interest, not secured by any specific assets, and in amounts of $500,000 or less.
5. APR shall be determined by Loop Funding. Details of the APR calculation provided on request.
6. Where the APR on the loan provided by Loop Funding is greater than the APR on the loan provided by the other lender, the borrower shall be provided with a one-time rebate for the full amount of Lending Loop's loan origination fee. The rebate shall be provided within 5 business days after the Lending Loop loan is repaid in full by the other lender provided that the Loop Funding loan is repaid within 28 days of being advanced.
7. The APR calculation will account for any rebates or promotions provided by Loop Funding Inc
8. Offer valid only for loan agreements executed between August 15, 2019 and March 31, 2021.