Property loan with 0.50 per cent rate cut…for businesses

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The Bank of Montreal has announced that it has cut 0.50 per cent off its variable rate loans to small businesses under the Canada Small Business Financing Program. Loans can be used various business purposes including the purchase or improvement of real estate and leases. It does not appear that the loans would be agreed for businesses that wish to start or grow a residential property portfolio however “purchasing or improving land and buildings used for commercial purposes” is allowed according to the BMO website. 

  • Gary on 2015-01-30 3:23:13 PM

    It's great that they have cut that 50 bps...but when they don't lend it out it sure does not hurt their bottom line...

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