Access the Credit Your Business Needs Instantly (2024)

Royal Business Overdraft

Protect your business’ reputation and credit rating with instant and extended credit when you’re short of funds.

• Funds are available immediately when your account balance dips below $1

• Ensure no cheques or payments will be returned for non-sufficient funds for amounts within your overdraft limit

• Overdraft limit available up to $10,000 on most Business Deposit Accounts

View Details about Royal Business Overdraft

Best For:

• Businesses looking to control day-to-day cash flow

• Those who need to cover outstanding payments when revenue is slow to come in

• Companies interested in simplifying borrowing needs – overdraft is attached to your account

Royal Business Operating Line

Access the credit you need, when you need it, to run your business smoothly with a line of credit.

• Access to funds through Online Banking for Business, ATMs or in branch

• The line of credit will automatically be paid down with supplemental funds from your everyday operating account

• Credit lines start at $10,000

View Details about Royal Business Operating Line

Best For:

• Businesses looking for the security of knowing funds will be available when they are needed

• Owners wanting to simplify cash management with two-way revolving functionality

• Simplifying borrowing needs

CreditLine for Small Business

For businesses looking for the convenience of a credit card but the functionality and low interest rate of a line of credit.

• No fee, with a competitive low interest rate

• Earn 1 Avion point for every $2 spent with your card*

• Use points to invest in your business, reward yourself or incent employees

View Details about CreditLine for Small Business

Best For:

• Small businesses that don’t require employee cards

• Owners who want an unsecured line of credit in the convenience of a credit card

• Those who want to earn rewards with no annual fee and a low interest rate

Asset Based Lending

Maximize the financing available from your assets with fewer, less restrictive financial covenants.

• Higher advance rates and increased liquidity available given frequent reporting of asset levels and monitoring of collateral values

• Committed financing (2-5 year terms) with no annual re-negotiation of terms and conditions

• Asset Based Lending facilities start at $2,000,000

View Details about Asset Based Lending

Best For:

• Businesses that require additional financing for growth and/or with leverage beyond conventional lending criteria

• Cyclical or seasonal industries or companies recovering from a downturn in cash flow

• Business owners that want to improve their working capital management

Canada Small Business Financing Line of Credit

Supplement your cash flow with a Canada Small Business Financing (CSBF) Line of Credit that gives you access to the funds you need, when you need them.

• 85% of the loan is guaranteed by the Federal government.

• 5 years, which can be renewed for another 5 years

• Access additional funds for your business deposit account at any time – through ATMs, Online Banking for Business and through the RBC Mobile App or in branch.

View Details about Canada Small Business Financing Line of Credit

Best For:

• New businesses looking for finance working capital costs necessary to cover day-to day operating expenses of a business

• Established businesses looking to cover gaps in working capital flow

*

Avion points are earned on net purchases only; they are not earned on cash advances (including balance transfers, cash-like transactions and certain bill payments), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.

**

The business loan calculator assumes: (i) a constant interest rate throughout the amortization period and (ii) that interest payments will be made monthly for both payment types (Principal Plus Interest or Blended). The calculations produced do not account for, among other things, the following factors that may impact amortization: (i) non-scheduled payment reductions such as lump sum payments, (ii) Business Loan Insurance Plan premium payments, (iii) leap years, (iv) maturities on dates other than payment due dates or (v) interest adjustments. Due to the foregoing, the amortization schedule produced by the business loan calculator may differ from an actual payment schedule. The calculations and amortization schedule produced are: (i) based on the accuracy and completeness of the data you have entered, (ii) based on assumptions that are believed to be reasonable, and (iii) for estimation purposes only and should not be relied upon for specific financial or other advice. When you make your credit application, interest rates may have changed or may be different due to information contained in your application.
Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or calculations in connection with this business loan calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or calculations, or any action or decision made by you in reliance on any information or calculations.