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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Lines of Credit

Access to financing allows you to take advantage of every business opportunity.

Whether you need to cover day-to-day operating requirements or pursue a unique business opportunity, a line of credit can provide you with the financing you need when you need it most.

Small Business Line of Credit/ Homeowner’s Line of Credit

Borrow only the amount you need – and at a competitive variable interest rate – with these simple, flexible and fast financing solutions.

Convenient, flexible features to keep you in control of costs

  • For credit needs up to $250,000, one simple no-fee application
  • Convenient access to between $5,000 to $100,000 for an unsecured line of credit1, and from $25,000 to $250,000 for a secured line of credit1
  • Easy access to funds through a BMO® Debit Card for Business or by cheque
  • Keep track of cash flow with a convenient monthly statement
  • Switch to an Installment Option at any time

1Subject to meeting Bank of Montreal’s usual credit granting criteria.

Small Business Homeowner’s ReadiLine®

Small Business Homeowners ReadiLine fulfills a dual role as both a mortgage and line of credit. Whether you need to fund day-to-day operating requirements or access longer-term financing, you can use the equity in your home to access the necessary funds.

Convenient, flexible features to keep you in control of costs

  • For credit needs up to $250,000, one simple no-fee application
  • Easy access to funds through a BMO® Debit Card for Business or by cheque
  • Keep track of cash flow with a convenient monthly statement

Operating Line Of Credit

If your borrowing needs exceed $50,000, this line of credit – which can be attached to any business deposit account – offers the convenience and easy access of an all-in-one account to finance your working capital needs2. If your business transactions occasionally extend into the United States, you can borrow in U.S. dollars.

Convenient, accessible features:

  • Combines the operating loan, deposits and day-to-day banking services into one convenient operating account
  • Cheques can be drawn down on the operating loan
  • Automatic credit against outstanding loans when deposits made
  • Easy 24/7 access2 to funds via online or telephone banking and ATM machines
  • Keep track of cash flow with a convenient monthly statement
  • Interest rate fluctuates based on BMO®'s Prime Rate plus an increment
  • Available in U.S. Dollars, based on BMO’s U.S. Base Rate plus an increment
  • Fixed monthly facility fee
  • Enjoy greater security and peace of mind for you and your business by insuring your loan with the optional Commercial Loan Insurance Plan


1 Subject to meeting Bank of Montreal’s usual credit granting criteria.
2 Subject to interruptions in online systems or in power supply or any other factor or event beyond the control of Bank of Montreal.

Agri ReadiLine® Line of Credit

Whether you need to buy feed, seed or other farm inputs, purchase equipment, install green power systems or simply cover daily expenses, this pre-arranged, mortgage-secured line of credit can provide the single, convenient financing solution you need.

U.S. Line of Credit from Harris Bank1

Do your business operations in the U.S. occasionally need additional financing to cover day-to-day operating expenses or to take advantage of a unique business opportunity? Setting up a Line of Credit with our U.S. affiliate can help you access the funds you need quickly and easily, directly from a U.S. bank.

Access to a U.S. Line of Credit expands your options south of the border

  • Ideal for short-term borrowing needs
  • Convenient access to more than 280 locations in the U.S.
  • Access funds through a Harris chequing account, special cheques, and telephone or online banking

Whether your borrowing or other business banking requirements are short or long term, Harris Bank’s suite of solutions – and solid 125-year track record – can help you access the financing, services and guidance you need directly from a U.S. bank.

1 Harris Bank is a trade name used by BMO Harris Bank N.A. and its affiliates. BMO Harris Bank N.A. is a member of the FDIC. Products offered by Harris Bank are subject to their approval process.
2rate subject to change without notice at any time.
3rate applies to loans made by the Bank in Canada in U.S. dollars.
Prime Rate %
US Base Rate2,3 %