small business Loans


Our funding partner Alterna Savings arranges loans to start or expand a business. 

If you are looking for small business financing, we are a good place to start due to our extensive community partnerships.

Small Business Loans
  • Current maximum of $15,000.
  • Interest rates on the loans are usually current bank prime rate plus 2% to 6% max.
  • Loan repayment terms normally range from 12 to 60 months.
  • Fees to Borrowers.

Upon approval of a new loan OCLF will charge a one-time due diligence fee of 3% of the value of the loan, up to a maximum of $250.


Credit History

OCLF considers applicants, which other lenders will not. This includes applicants who have encountered credit difficulties in the past or have not yet established a credit history. There will nevertheless be certain minimum standards. All applicants will be subject to a credit check and their eligibility assessed by OCLF and its lending partners on a case-by-case basis.


  • Proof of identity (driver’s license, passport or similar photo identity document).
  • Business plan including a two-year cash-flow projection.
  • Provide two References (business or academic contacts only).
  • A current resume.
  • If applicable, provide business registration document.


You are eligible to apply if:
  • You are 18 years or older.
  • You live in the City of Ottawa and have permanent legal status in Canada.
  • Own no less than 51% of the business in the case of the corporation and have the signature of all the shareholders; in the case of a partnership all partners must be willing to co-sign for the loan; in the case of a non-profit, the President and two officers with signing authority will make an application to OCLF and in the case of a co-operative, all members will make application to OCLF.
  • Demonstrate an ability and commitment to repay the loan as confirmed by credit checks and references.
  • If applicable, have been discharged from bankruptcy for at least 2 years, as confirmed by a credit check.
  • Agree that OCLF will be the first secured party for existing equipment and vehicles that may be pledged as security for the loan.
  • You have no outstanding debts on which there are payment defaults.
  • You can submit a business plan including start-up costs and a monthly cash-flow projection for the next two years. In the case of an expansion of an existing business, financial statements will be required.
Your Business must:
  • Be located in or around Ottawa.
  • Be, or will be, a legally registered sole proprietorship, partnership, corporation or co-operative.
You Must
  • Use the funds to start or expand business operations.
  • Not be using the funds to consolidate debt.