Grow! Loan
Get quick access to the money your growing business needs, with a simplified application process and same day approval.
Get quick access to the money your growing business needs.
Features of this loan
- 5-year term
- Borrow up to $50,000
- Quick approval process, with no financial statements required for qualification
- Funds on the same or next business day after approval
- Choose from monthly, bi-weekly, or weekly payment options
- Additional disability, life, and critical illness insurance is available for qualifying borrowers *
Benefits included with all of our loans
Receive answers quickly and efficiently with in-house approvals
Competitive interest rates keep borrowing affordable
Select payment options and terms that fit your business needs
Make additional payments at any time, with no additional charges
Do you qualify?
As a sole proprietor, a partner in a registered partnership, or the owner of an incorporated business, you qualify for a Grow! Loan if you meet the following criteria:
- You are a Canadian citizen or permanent resident
- You have no bankruptcies within the past three years
- You own at least 50% of the business (or the largest percentage owner with at least 25% ownership)
- You possess a business chequing account at SCU (even if payments come from an account held at another financial institution)
- You meet our simplified credit granting criteria
- You have life insurance for your loan (either through our insurer or a separate provider)
- You’re an existing SCU member
Ready to apply for a business loan?
Visit any one of our branches for knowledgeable, professional, and friendly service from our account managers. Whatever you’re looking for in an account, we have experts on-hand and ready to help.
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Tips & tools
Here are a few ways for you to get the most from your loan.
Explore related products
Get a business credit card
Insights & Advice
Loan / line of credit / mortgage insurance coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.
Loan / line of credit / mortgage insurance coverage is optional and is underwritten and provided by CUMIS Life Insurance Company. Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.
