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Use the calculator to estimate monthly cost and effective APR, learn how lines work in Canada, compare alternatives, and apply with vetted lenders.
Estimate monthly cost based on your limit, expected usage, and fees. Choose interest only or plan a payoff schedule.
Enter inputs and choose a mode to see monthly interest, total monthly cost, annualized cost, and an effective APR estimate.
A business line of credit is revolving financing with a preset limit that you draw, repay, and reuse. You pay interest only on what you borrow, not the entire limit, and lenders may charge fees such as annual maintenance, per draw fees, or non utilization fees.
Draw as needed up to your limit and repay any time. As you repay, available credit resets and can be used again.
Most lines are reviewed annually. Lenders may adjust limits, pricing, or covenants based on financial performance and bank history.
Agreements can allow lenders to reduce or cancel availability if risk increases. Manage utilization and covenants carefully.
Cost is usually quoted as prime plus a margin. Your effective cost depends on how much of the limit you use and how often you draw. The calculator includes fee impacts to show an effective APR estimate relative to your average balance.
| Limit | $100,000 |
| Average utilization | 50 percent |
| Rate | Prime plus 2.5 percent |
| Annual fee | $250 |
| Per draw fee | $15 per draw |
Use the calculator to tailor this example to your scenario.
A small business line of credit can help you purchase inventory ahead of peak periods. Secured lines that advance against accounts receivable or inventory can improve pricing and limits.
Launch new marketing or expand to new customers. Draw to fund production and media, then repay from revenue lift.
Cover urgent repairs and small equipment purchases without waiting for a term loan. Match draws to cash inflows.
Smooth payroll, supplier payments, and short timing gaps. Track usage with monthly statements and repay quickly.
Great for seasonal businesses that ramp up inventory or staffing before revenue arrives. Use the calculator to estimate fee impacts during low utilization months.
Newer businesses with strong personal credit and a clear plan may qualify for smaller unsecured limits to begin.
| Product | Best for | Limit | Typical cost | Speed | Flexibility | Risks |
|---|---|---|---|---|---|---|
| Business line of credit | Ongoing working capital and timing gaps | 25k to 500k plus | Prime plus margin and fees | Fast to moderate | High | Callable, fee drag at low use |
| Term loan | One time purchases or projects | 50k to millions | Fixed or variable rate | Moderate | Low | Rigid schedule, prepayment terms |
| Business credit card | Small purchases and rewards | Up to 50k | Higher rate | Fast | High | High interest if revolved |
| Merchant cash advance | Card revenue based advances | 10k to 250k | Factor rate | Very fast | Medium | Expensive, daily remits |
Secured lines may also require AR aging and inventory reports.
Estimates are for education only and not a credit offer. Actual pricing and terms vary by lender and applicant profile.
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