A rundown of rates across CSBFP, BDC, bank loans and alternative lenders — and how to tell which is the right fit.

The cheapest borrowers can find in the current market — strong credit history, secured, government-backed — sits around 4.7% to 6%, typically through the Canada Small Business Financing Program or a traditional bank loan. Standard bank loans without that backing tend to start higher, in the 5%–7% range.

Where the ranking actually lands

Government-backed programs are generally cheapest, BDC sits in the middle at roughly 7.5%–11.5% for businesses banks have already turned down, and online alternative lenders — while fast and accessible — cost the most and should generally be treated as a last resort.