Business financing in Masonville
Options, local help and what lenders look for in Masonville, London. Apply once and we’ll match you with one financing partner.
Short answer
Businesses in Masonville can use the same options as the rest of London: bank and credit union loans, the government-backed Canada Small Business Financing Program (up to $1.15 million), BDC loans and specialist lenders. Given what Masonville is like, lines of credit and term loans come up often. The London Small Business Centre offers free advice to businesses across London.
Doing business in Masonville
A north London area around the Masonville mall, with newer detached homes and townhouses close to Western University.
Close to Western University and University Hospital, the area appeals to families and professionals. Many homes are newer detached houses.
Financing for Masonville businesses
Masonville has a strong base of technology and professional firms. These businesses often have few physical assets, so partners look closely at recurring revenue and client contracts, and lines of credit and term loans for hiring are common.
Masonville’s shops, restaurants and services often finance renovations, fit-outs and seasonal inventory. A lease with enough time left on it makes lenders more comfortable funding improvements to the space.
How NorthMerit can help
Apply once and we’ll connect you with one financing partner who works with businesses like yours. It’s free, and there’s no obligation.
Where Masonville businesses get financing
| Option | How much | What you need | Good for |
|---|---|---|---|
| Bank or credit union loan | Varies with revenue and security | Usually 2+ years of statements, good credit, often a personal guarantee and collateral | Established, profitable businesses |
| Canada Small Business Financing Program | Up to $1.15M: $1M in term loans (up to $500K for equipment and leaseholds) plus a $150K line of credit | Revenue of $10M or less; arranged through your bank or credit union; 2% registration fee | Start-ups and businesses short on collateral |
| Alternative and online lenders | Smaller amounts, fast decisions | Bank statements and revenue history; higher cost | Short-term needs when a bank says no |
| BDC small business loan | Up to $350K, applied for online | 24 months in business, profitable, credit score of 600+, revenue of $100K+ ($250K+ above $100K) | Working capital, growth, refinancing |
| Commercial mortgage | Often 65% to 75% of the property’s value | A down payment, appraisal and environmental review | Buying or refinancing the building you work from |
Free local help
- London Small Business Centre: training, guidance and programs including Starter Company Plus and Summer Company. Visit
- Starter Company Plus: Ontario grants of up to $5,000, plus training and mentoring, for people 18 and older starting or buying a business, delivered through local small business centres. You contribute at least 25% of the grant amount. Ontario
Sources
We checked these figures against official sources in October 2026. Rules and rates change, so confirm the details with your mortgage professional, lawyer or the source before you rely on them.
Common questions
What financing do businesses in Masonville use most?
Where can I get free business advice near Masonville?
Can a new business in Masonville get a loan?
How does NorthMerit help Masonville businesses?
More London neighbourhoods
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