Small Business Loans – Newfoundland and Labrador
Small businesses are the foundation of communities all across Newfoundland and Labrador. At Lendified, we believe the best way to support small businesses is by providing the financial services and products they need to succeed.
Our goal is to help companies throughout Newfoundland and Labrador overcome unexpected financial hurdles by providing a fast, reliable and secure source for small business loans.
Our online approval process is simple and straightforward. Business owners can apply for their loan online, get pre-qualified in under 10 minutes, and receive their funding in as little as 48 hours!
How to Get a Business Loan in Newfoundland and Labrador
Instead of giving you the run-around and piling up the paperwork like the big banks, Lendified has a much different approach to business financing. We support Newfoundland businesses with a streamlined approach, providing accessible loans and financing options to in a timely manner.
No matter if your company is located in St. John’s, Conception Bay South or Deer Lake, the eligibility criteria for our loans is the same for all companies in Newfoundland.
What Credit Score is Needed to Get a Business Loan?
In order to apply for business loans in Newfoundland, you and your company will have to meet the following criteria:
- Incorporated business (recognized by the government of Canada)
- 6+ months in operation
- $100,000+ in business income annual revenue
- 610+ personal credit score
What is the Average Term for a Small Business Loan?
When you work with Lendified, you will get matched with the right loan provider for your needs, with access to loans ranging from $5,000 to $150,000. Our lenders consider all relevant information to come up with a financing solution plan that makes sense for all parties.
With competitive interest rates and terms ranging between 3 and 24 months, you can pay back your business loan without compromising your operations.
What is the Easiest Business Loan to Get?
The easiest business loan to get is one secured through Lendified’s online portal. Easily accessed through our website, the application process only takes a few minutes to complete.
After providing some basic information about you and your business, you could be instantly pre-qualified for business financing and have your money delivered in as little as 48 hours after your loan approval.
Industries We Serve Across Newfoundland and Labrador
Lendified understands that small business financing needs to be delivered in a timely manner, because it is often needed to meet growing demand or pay for unplanned expenses. That’s why we offer short-term business loans that are fast, simple and affordable.
Lendified provides short-term financing and support to a wide range of businesses in Newfoundland and Labrador, from industries such as:
If your industry isn’t shown above, don’t worry! Lendified can still help! We provide funding to a diverse range of companies throughout the province. See all the other industries we serve here.
What Can I Use My Business Loan For?
Small business financing in Canada can help businesses with loans that can be used in a variety of circumstances, such as:
- Refinancing debts
- Purchasing new equipment
- Replenishing inventory
- Providing cash flow
- Paying bills or suppliers
Learn more about our loans, and get started today!
While our goal at Lendified is to assist as many small businesses as we can, there are several industries that we do not serve, and thus cannot qualify for a loan.
Credit Protection, Restoration, Repair Financial Transaction Processing Insurance Related Services investment Advice & Securities Dealers Lenders
Discount Travel Clubs/Subscriptions Pawn Shops/Consignment Precious Metal Sales
Taxis & Independent Logistics Companies Trucking Companies (with less than 5 vehicles)
Contractors (with less than 10 employees) Trades (with less than 10 employees)
Vehicle and Equipment Sales
Auto, RV, & Boat Dealers Manufactured/Mobile Home Dealers
Adult Entertainment/Materials Government & Non-Profits Guns & Ammunition Sales or Manufacturing Lotteries/Raffles/Gaming/Gambling Agriculture and Fishing Non-Profits