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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

National Bank

Finanso.Multilogin™
Ranking as the sixth largest commercial bank in Canada, National Bank has accumulated more than 2 million clients countrywide since it was founded 1859 and is renowned as a good place for entrepreneurs to go for business solutions. In fact, over 138,000 of their customers are small to large scale enterprises. So, whether you’re an experienced business owner or starting your operation from the ground up, they’ll help you find a way to expand. First-time borrowers can receive up to $50,000 of financing within 72 hours of approval, while more qualified applicants can potentially receive up to $1M. Book an appointment with a business adviser at any one of their thousands of branches today or check out their web page to learn more.

What to pay attention to when applying for a loan from National Bank

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes National Bank from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All National Bank’s reviews by October 2022
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