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Monthly interest rate for new and existing business loans in Canada 2016-2022

Published by Statista Research Department, Jan 12, 2023
The interest rate for new and existing business loans in Canada dropped significantly over the early months of 2020. At the start of February 2020, interest rate for business loans was 4.02 percent, and dropped to 2.73 in September 2021. The interest rate remained low until early 2022, when it began to increase at fast-pace.

Monthly interest rate for new and existing business loans in Canada from October 2016 to October 2022

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Release date

January 2023

Region

Canada

Survey time period

October 2016 to October 2022

Special properties

Month end rate

Supplementary notes

As of January 2019, total business loans exclude non-residential mortgages to the personal sector.

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