What types of loans are available for starting a business?

In Canada, entrepreneurs have access to various loans for starting a business, including traditional bank loans, government-backed loans such as those offered by the Business Development Bank of Canada (BDC), and the Canada Small Business Financing Program (CSBFP) which helps with financing for start-ups and small businesses. Microloans from non-profit organizations and community lenders are also available, especially for entrepreneurs who may not qualify for traditional loans. Additionally, some provinces offer region-specific loans and grants to support local entrepreneurs. It’s important to research and understand the eligibility requirements and terms of each option.