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Business loans

Flexible financing solutions for small businesses

 

Advice and tailored solutions—A better way to finance your business

Finding the right financing for your small business is essential to growth. Whatever your business, however big or small, Gulf & Fraser is on your team. Our experienced Business Relationship Managers will provide personalized advice and tailored financing solutions to help your business succeed. Experience the Gulf & Fraser difference.

 
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Hear what our members have to say

Christophe Bonzon

With his chocolate shop’s early success, Christophe needed a renovated space and better equipment to keep up with demand. But it was frustrating trying to get a bank to sign off on the financing he needed. After connecting with one of our advisors at a networking event, Christophe came to Gulf & Fraser with the same request he had put before the bank. This time, he was approved. With two locations and a decade of happy customers behind him, the results are, well, delicious.

Read Christophe's story  Read more stories
 

Benefits of Gulf & Fraser business loans

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No-fee consultations

We’re committed to making financing accessible. Come in for a free consultation with an experienced Business Relationship Manager. Bring your questions and ideas—we’d love to discuss your financing needs and help you take your next step.

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Tailored advice and solutions

We know your business isn’t cookie cutter—so our financing solutions aren’t either. We listen well and tailor our advice and flexible financing solutions to fit your business.  

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Local market expertise

Supporting small businesses is our superpower. With expertise in the local market and economic trends, our Business Relationship Managers are on your team and ready to help you succeed.

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Quick turnaround time

Get a same-day response when you apply for a business loan up to $50,000. Find out if you’ve qualified and, if you have, find out your approved rate and credit line amount.

Explore business loans

With extensive local market expertise, our Business Relationship Managers have years of experience helping small businesses like yours secure the financing they need to succeed. Whatever your business goals, our advisors can help you choose the financing solution that’s right for you.

Operating lines of credit

Get instant access to the funds you need, when you need them. Stabilize your cash flow, boost your purchasing power, and meet your business’s day-to-day operating requirements. A Gulf & Fraser operating line of credit gives you the flexibility you need to bridge temporary shortfalls, avoid disruptions and seize growth opportunities for your business.

  • Same-day response on applications up to $50,000

  • Competitive 1% annual fee

  • Secured and unsecured options

  • Lower interest rate than most credit cards

  • Variable interest rates

  • Only pay interest on the money you use for the time you use it

  • Easy access to funds—online, in branch, by phone or cheque

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Financing

Finally, a development financing partner that's as enthusiastic about your project as you are. At Gulf & Fraser, we have years of experience financing your business needs like residential property development and construction. Put our local market and financial expertise to work for you. Get advice and financing tools that work with your goals and timeline to help make sure your project is a success.

  • Phased advancement—your loan is advanced at different stages of construction

  • Flexible payment options

  • Advice to help you understand your options

  • Competitive solutions so you can take advantage of market conditions and opportunities

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Term loans

Whether your business needs a new space, new equipment, a new vehicle or a full makeover, a term loan can help give your business the boost it needs so you can keep growing. With fixed terms and flexible repayment options, a term loan is a great tool if you’re planning to: 

  • Buy, renovate or expand your business and property

  • Buy, install, renovate or repair equipment and machinery

  • Start or buy a new business

  • Fixed term of 1–5 years

  • Fixed or variable interest rates

  • Flexible repayment terms

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Small business lending

Get the capital you need to grow your business—whether you’re looking to explore new markets, invest in advertising, attend trade shows or train your team and expand your offerings.

With our real estate secured lending options, you can leverage the value of your warehouse or strata property to secure a loan—making it easier to access the funds you need.

We also provide Letters of Credit so you can expand into new markets, bid on contracts or secure international deals with confidence.

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Ready to apply for a Gulf & Fraser business loan?

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Chat with an advisor

Book an appointment

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Visit a branch

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Call our Member Hub

Call 604-419-8888

Meet your advisors

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Harry Zhang

Business Relationship Manager

hzhang@gulfandfraser.com

“Flexibility. It’s something I truly believe in. I strongly believe that it should always be members that pick and choose how they want to be serviced. Not the other way around.”

Harry is a generalist who works with a wide array of small and mid-sized businesses that need advice on cash flow or borrowing to fulfill their operational goals. Known for his proactive and accommodating approach, Harry assists business owners by anticipating their needs and managing workflows, guiding them towards greater success.

Languages spoken: English, Mandarin

Areas covered: 41st Avenue, West Broadway, Main and West End

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Gonzalo Medina

Business Relationship Manager

gmedina@gulfandfraser.com

“Everyone’s situation is unique. It is my job to offer you personalized and flexible solutions that go above and beyond the service you’ll get from traditional banks.”

Gonzalo has worked in the financial services industry since 2010. He specializes in providing business financing options and cash management solutions to small business owners, and insists on getting to know members thoroughly so that he has a solid understanding of their needs.

As someone who has dabbled in entrepreneurship, Gonzalo understands the challenges faced by small business owners in wearing many hats and trying to set up a proper business structure. When requested to, he helps members by connecting directly with their lawyers and accountants to work out the fine details, leaving members with more time to run their business.

Languages spoken: English, Spanish, Portuguese, Italian

Areas covered: North Burnaby, Brentwood, Port Coquitlam, Willoughby and South Burnaby

 
 

Boost your business finance know-how

How do I get commercial lending?

Securing commercial lending for your business takes careful planning. Whether you want to expand your operations, upgrade your technology or start a land development project, we’ve got the tools and expert advice to help propel your business forward.

Read on
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Article

How do I grow my business?
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Podcast

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Video

Writing a business plan
 

Get advice on the go

Life gets busy, but don't let that stop you achieving your goals. Whether you’ve got $50 or $50,000, we want to help power your possible – and we'll come to you to do it.

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Business loans FAQ

Getting a loan for your small business involves a few key steps:

  1. Know your needs: How much money do you need for your business? Why do you need it? When do you need it? What kind of repayment terms do you need?

  2. Check your credit: Make sure you have good personal and business credit histories

  3. Get organized: Make sure you have a clear business plan and gather your financial documents like tax records and financial statements

  4. Explore your options: Look for lenders that offer loans designed specifically for small businesses

  5. Apply: Fill out a loan application and provide the required documents

  6. Understand the loan terms: Once you’re approved, go through the loan terms, including interest rates and repayment plans

  7. Accept and use the loan: If you're happy with the terms, accept the loan offer and use the money for your business needs

Gulf & Fraser advisors are here to help you secure the financing your small business needs.

There is no typical interest rate because there are many factors that determine the interest rate on a particular business loan. Some of these factors include: 

  • Type of loan (e.g. commercial mortgage, small business loan) 

  • Amount borrowed

  • Term length

  • Payment terms

  • Fixed or variable rate

  • Bank of Canada’s prime rate  

  • Collateral to secure the loan

  • Your credit history 

  • Your revenue stability

The current interest rate of business loans in BC can vary widely. Rates depend on many factors including:

  • Type of loan (e.g. commercial mortgage, small business loan)

  • Loan amount

  • Term length

  • Payment terms

  • Fixed or variable rate

  • Bank of Canada’s prime rate

  • Collateral to secure the loan

  • Your business’s credit history

  • Your personal credit history

  • Your revenue stability

While there are business loan options for business owners with less-than-perfect credit, they typically have higher interest rates and stricter terms to protect the lender. 

To improve your chances of getting approved for a business loan, consider using collateral to secure a loan, having a co-signer on your loan application or working on improving your credit before you apply. Wherever you’re at on your credit journey, a Gulf & Fraser advisor can help you explore options to help you achieve your goals.

Have more questions?

Don’t hesitate to reach out. We’re just a live chat, video, or phone call away when you need us.

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Other solutions you may want

Business credit cards

Simplify and manage your corporate expenses with Gulf & Fraser credit cards.

Explore business credit cards

Business lines of credit

Instant access to funds you need, when you need them. Manage daily operations and seize new opportunities with ease.

Explore business lines of credit
 

At Gulf & Fraser, we're here to power your possible

GFCU Savings contact

The GFCU Savings call centre hours are open from 7:00am-7:00pm Monday to Friday and 8:00am-4:00pm on Saturday.

Local: 1-250-442-5511

Toll-free: 1-866-442-5511

Email: info@gfcu.com

 
 

©2024 Gulf & Fraser. All rights reserved. Gulf & Fraser and GFCU Savings are trade names of Beem Credit Union.