Business financing in North York
Options, local help and what lenders look for in North York, Toronto. Apply once and we’ll match you with one financing partner.
Short answer
Businesses in North York can use the same options as the rest of Toronto: 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 North York is like, term loans and commercial real estate come up often. Enterprise Toronto offers free advice to businesses across Toronto.
Doing business in North York
A large northern district built around Yonge Street, with high-rise condos near the subway, established detached streets and a strong base of small businesses.
Yonge and Sheppard and Yonge and Finch are lined with towers, while streets like those in Bayview Village and York Mills have larger detached homes. Buyers range from first-time condo owners to families trading up.
Financing for North York businesses
North York’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.
Many businesses in North York are owner-run. When an owner is ready to retire, acquisition financing can help a manager, family member or outside buyer take over an established business.
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 North York 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 |
| 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
- Enterprise Toronto: free in-person guidance from small business advisors, consultations and mentorship at the City’s small business centres. 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 North York use most?
Where can I get free business advice near North York?
Can a new business in North York get a loan?
How does NorthMerit help North York businesses?
More Toronto neighbourhoods
The right financing, from the right partner.
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