Small Business Credit Products
First Nations Bank of Canada offers small business customers overdraft coverage, operating Lines of Credit, and Term loans to a combined maximum of $100,000.
Overdraft Protection
Provides peace of mind by ensuring shortfalls in your Business Chequing Account are covered up to your approved limit available from $1,000 to $10,000. We offer this protection with a competitive Business Overdraft Protection rate and a low standard monthly fee of $10.
This product is conveniently accessible via cheque, ATMs, Mobile Banking and Online Banking.
Operating Line
This product offers competitive floating interest rates based off prime which can vary depending on security provided and the dollar amount authorized. Both secured and unsecured options are available at a low monthly administrative fee of $25. The Business Operating Line is a valuable tool to help finance your day-today operating cost and help grow your business.
Term Loans
You can choose from fixed or floating interest rates, flexible payments options with your choice of terms of 1 to 5 years and amortized up to 7 years (10 years on Real Estate).
Letter of Credit
A First Nations Bank of Canada Business Letter of Credit is a convenient way to provide the various vendors and suppliers your business deals with the written assurance of your credit worthiness.
Cash security is generally requested and can be provided in the form of a First Nations Bank of Canada Term Deposit/GIC, or carved off an existing First Nations Bank of Canada Business operating Line of Credit. Fees are calculated on a per annum basis at the time of issuance and determined by the level of security provided.