Business Accelerator loan program
Our uniquely flexible loan program supports entrepreneurial diversity and improved access to financing
Securing business financing can be difficult for entrepreneurs, and unfortunately this challenge is often greater for entrepreneurs in diverse groups, including: Indigenous peoples, women entrepreneurs, newcomers to Canada, visible minorities, 2SLGBTQ+ people, and people with disabilities.
To help close that financing gap, Meridian’s Business Accelerator loans program offer flexible term financing for improved access to working capital between $25,000 and $500,000, supported by BDC*.
Accelerator Loan benefits
-01.png?width=175&height=140&ext=.png){kind=icon}
Variable rate term financing for working capital between $25,000 and $500,000.1
Loans are approved and issued by Meridian, supported by a guarantee from BDC (up to 100%).2
-03.png?width=208&height=166&ext=.png){kind=icon}
Amortizations of up to 6 years, with principal to be paid in equal monthly instalments.
Is your business eligible?
Your business may be eligible if you:
- Are based in Ontario
- Have been in operation for at least 12 months
- Have annual revenues that are under $10 million
- Have operational cash flow needs between $25,000 and $500,000
- Conduct your day-to-day banking with Meridian
Note: The loan proceeds must be used to fund the operational cash-flow needs of your business, not to replace other loans you may hold.
Accelerator Loan fees
In addition to interest costs, the Accelerator loan program includes two fees that go directly to the BDC.
- A one time, 1% application fee
- A 2% annual guarantee fee (paid from the interest rate charged on the Accelerator loan)
For questions about fees, please speak with a Meridian advisor.
Talk to a Meridian advisor. They’ll answer any questions you have, and you’ll review the eligibility requirements and the needs of your business together. Once an advisor confirms that this is a good option for you, they’ll walk you through the application process and support you throughout the entire loan process.
Talk to us about accelerating your business
One of our business advisors will be happy to answer questions about the Business Accelerator Loan Program.
All fields are required.
Other ways to get in touch
Find a business advisor Call us: 1-866-592-2226 Request a call