Borrowing Solutions

Whether your business is established or just starting out, KCCU has flexible business banking accounts, tools and the expertise needed to help you grow and prosper.  From everyday needs to long-term financing, our commercial business team can help you customize finance options structured for your unique business needs.

Commercial or Small Business Mortgage

Purchasing your own business space can help you unlock the full potential of your business.   KCCU offers fixed or variable rates commercial mortgages over flexible amortization periods to help you finance the purchase of land, buildings, or make a major renovation.

Compared to a loan or line of credit, mortgages generally allow you to borrow more money at a lower rate of interest which keeps your payment more affordable.

  • Fixed or variable interest rates available
  • Terms up to 5 years
  • Amortization up to 25 years
  • Optional life and disability insurance*
  • Utilize the equity in your property to refinance, consolidate debt or expand your operations.

Business Loans

When it comes to starting or expanding a business, financing is often necessary. Business loans are an excellent way to obtain the necessary funds to help you move forward with your business goals and strategies.  Financing might be the best option for things like:

  • Start-up expenses
  • Capital expenses
  • Equipment or software purchases, improvements, or repairs
  • Inventory
  • Leasehold improvements or renovations
  • Vehicles
  • Operations
  • Debt Consolidation
  • Fixed or variable interest rates available
  • Terms up to 5 years
  • Amortizations up to 10 years on equipment and 25 years on buildings
  • Optional life and disability insurance*

Business Operating Lines of Credit

A line of credit gives you access to funds to help cover short-term gaps in cash flow and cover operating expenses within your business. You can use funds whenever you need them, and interest is only charged on the amount you borrow. 

  • Variable interest rate
  • Easy, flexible access to funds to help improve cash flow
  • Minimize your interest expense by only paying interest on the funds you are using.
  • It can be attached to your operating account as an authorized overdraft.
  • Optional life and disability insurance*

Letter of Credit

A Letter of Credit is an assurance of repayment to a third party.  It allows you to continue to maintain cash flow and working capital by eliminating the need to make advance payments or deposits. 

  • Built in safeguards for things like inspections, quality control delivery times, etc.
  • Provides your suppliers with a level of confidence that can improve your terms and cash flow requirements.
  •  Avoids tying up cash your business can put to better use.

Fees start at 1% – discuss with your business advisor

Credit Cards

We’ve partnered with Collabria to offer you a great selection of Mastercard® credit cards to suit all your business’ needs. All cards offer global customer service, zero liability, purchase protection, and extended warranty. 

  • Payment flexibility and terms which allow you to adjust your payment schedule to match your business’ cash flow.
  • Short term credit option which allows business owners to expand their businesses and sustain cash flow.

*Some restrictions may apply

A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)