Does Scotiabank offer business loans?

Yes, Scotiabank offers business term loans, Canada Small Business Financing Program loans and other special funding programs for businesses. Business lines of credit are also available.

Why doesn't Scotiabank post its interest rates on its website?

Much like other Big Five banks, Scotiabank doesn't post its business loan interest rates online because the rates you get will depend on personal variables. These can include what your credit score looks like, how much revenue your business brings in and how much debt you already have.

What's the difference between a fixed and variable rate loan?

The main difference between a fixed-rate and variable-rate loan has to do with how predictable your payments will be. Fixed-rate loans have the same interest rate for your entire term, which makes them easy to budget for. Variable-rate loans fluctuate in line with Scotiabank's prime rate, so the amount you'll have to pay will be less stable—but you may be able to save money if the prime rate goes down.

Can I apply for Scotia business loans online?

You can't simply submit an online application for a Scotia business loan. You'll first need to make an appointment with a Scotiabank business adviser to discuss your borrowing requirements.