Financing for the industries that run Ontario
Ontario has more businesses than any other province, and the lending market reflects that. There are lenders that focus on trucking and transport along the 401 and 400-series corridors, on contractors and trades, on manufacturers and distributors across Southwestern Ontario and the GTA, and on dental and health clinics in every region. The hard part isn't finding a lender. It's finding the ones that fit your file without filling out ten applications.
Ontario contractors: prompt payment and holdbacks
Ontario's Construction Act requires owners to pay a proper invoice within 28 days, unless they give a notice of non-payment. Contractors then pay subcontractors within 7 days of being paid. Since January 1, 2026, the annual release of holdback is mandatory on longer projects. The rules help, but the gap between paying your crew and getting paid is still real. Our guide to holdbacks and prompt payment covers how to finance around it.
HST and equipment financing
When you buy equipment, 13% HST is charged on the purchase. On a lease, HST is charged on each payment instead, which spreads the cash outlay. HST-registered businesses can generally claim input tax credits either way. The right structure depends on your situation, so compare an equipment loan and a lease with your accountant.
Where Ontario businesses borrow
- The big banks and credit unions, for businesses that fit their criteria. If yours said no, here's what to do next.
- Government-backed loans through the Canada Small Business Financing Program and BDC.
- Equipment lenders and leasing companies for equipment financing.
- Alternative lenders for term loans and lines of credit, deciding mostly from recent bank statements.
How Straightline works in Ontario
You answer a few questions about your business. We match you with one experienced funding advisor who serves Ontario and knows your industry. They compare offers from the lenders that fit and walk you through your options. Your file goes to that one advisor only. Check your options in about 3 minutes, with no credit check to start.