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Business Loans in Thornhill: A Local Guide for Growing Companies
If you run a business in Thornhill, you don’t just need “a loan”—you need the right mix of equipment financing, working capital, and lines of credit that fits how companies actually operate in York Region.
In practice, most Thornhill businesses end up using:
The trick is choosing smart structures so your loan helps you grow instead of turning your operating line into a permanent stress test.
Let’s walk through what that looks like for a business in Thornhill.
Most Thornhill businesses are small, service-oriented, and growing in fits and starts—exactly the kind of environment where blunt one-size-fits-all loans cause problems.
York Region’s latest Employment and Industry Report shows that small businesses with 1–19 employees make up about 81% of all surveyed businesses in the region, and they support roughly a quarter of all local jobs. (Workforce Planning Board) Thornhill, straddling Markham and Vaughan, sits right inside that ecosystem: medical and dental practices, trades and contractors, logistics firms, restaurants, retail, e-commerce, and professional services.
At the same time, national surveys show that about 49% of Canadian SMEs requested some kind of external financing in 2023—loans, leases, trade credit, or government-backed programs. (Statistics Canada)
Put those together and the picture is clear:
That’s exactly why Mehmi doesn’t just talk about “business loans.” We look at your equipment, working capital, and cash-flow rhythm and build a stack: Equipment Financing for the hard assets and targeted Business Loans for everything else.
Thornhill owners don’t need to memorize every product name—but you should understand the main buckets.
Business term loans are fixed-term loans you repay over several years with regular payments. They’re useful when you have a defined project or growth plan.
Development lenders like BDC structure term loans with flexible options like principal holidays and seasonal or step-up repayments so that growth projects don’t crush cash flow in the early months. (BDC.ca)
With Mehmi, term-style products sit under our Business Loans suite, including:
We’re blunt about this: traditional term loans are great for projects with clear payback, but they shouldn’t be your default for every little expense or every piece of equipment.
Lines of credit give Thornhill businesses revolving access to funds for short-term needs—payroll timing, inventory, deposits, and unexpected expenses.
BDC’s working capital loan literature makes the same distinction we do: term money for longer-term investments, revolving money for shorter-term bumps. (BDC.ca)
Mehmi offers a Line of Credit as part of our Business Loans lineup, but we strongly recommend:
If your operating line is always 90% used because of equipment, you don’t have a “line problem”—you have a structure problem. That’s where equipment financing comes in.
For anything with a serial number—trucks, trailers, shop gear, kitchen equipment, medical devices, forklifts, IT hardware—Equipment Financing should be your first stop.
Instead of a generic loan, Mehmi uses:
For hospitality, there’s even Rent Try Buy Hospitality, built specifically for restaurants, cafés, and venues.
Contrarian opinion: if most of your debt is sitting in general bank loans instead of equipment leases, there’s a good chance your debt stack is doing more harm than necessary.
Thornhill owners have more than just banks and private lenders. There’s a web of local and government options that can sit beside what Mehmi does.
BDC is Canada’s federal bank for entrepreneurs. It offers:
These products are built to be easier on cash flow than many standard bank loans—longer terms, options to postpone principal, and payments sized to your project. (BDC.ca)
The Canada Small Business Financing Program (CSBFP) works differently: it shares risk between banks and the federal government so banks can offer more term loans for equipment and leasehold improvements than they might otherwise be comfortable with. (ISED Canada)
We often see smart Thornhill owners use:
You’re not on your own locally either.
These supports rarely cover 100% of a project, but they can reduce how much you need to borrow or make certain projects more bankable. Mehmi can help you structure the rest.
The answer isn’t “leases are always better” or “own at all costs.” It’s about matching the structure to what you’re buying and how stable your cash flow is.
You’re financing:
Why leasing is usually the better move:
That’s the core idea behind Mehmi’s Equipment Leases and sector-specific options like Heavy Equipment Financing and Truck and Trailer Financing.
You’re funding:
Those things don’t have great resale value, so they don’t fit neatly into equipment leases. That’s where a Working Capital Loan, Secured Loan, Unsecured Loan, or Franchise Loan from Mehmi (or a BDC/CSBFP term loan) makes sense.
Every lender has its own credit policy, but the big levers are fairly consistent. Understanding them makes conversations much easier.
National SME surveys and BDC’s own guidance make the same point: lenders size loans by looking at your ability to service debt, often using a debt service coverage ratio (DSCR). (BDC.ca)
Roughly, they want to see:
Mehmi will look at your historical financials and your near-term forecast, especially for expanding or seasonal Thornhill businesses (think landscaping, construction, or food service).
Traditional banks often want a broad security agreement over all your assets. Asset-based lenders and equipment funders like Mehmi lean more on:
This is why Mehmi can often move faster or go further for equipment than a Thornhill owner’s primary bank.
Personal and business credit still matter:
In York Region, many sectors (professional services, logistics, healthcare, trades, food) are well understood by lenders, which helps. York Region’s own data shows a diverse mix of industries and ongoing job growth across sectors. (York Region)
Mehmi overlays this with sector expertise—transport, construction, medical, hospitality—so we’re not learning your industry from scratch.
Here’s a simple way to approach business loans and equipment financing without getting overwhelmed.
Make two lists:
The first list belongs in Equipment Financing territory (leases, equipment lines, possibly asset-based lending). The second is where Business Loans and lines of credit live.
Use Mehmi’s Eligible Equipment page as a quick sense check.
Use a simple DSCR approach:
Then jump into Mehmi’s Calculator and test different combinations of equipment amount, term, and rate assumptions until the payments land within that comfort zone.
A good Thornhill setup often looks like:
This way, you’re not begging one lender to do everything on their terms.
Before you speak with anyone, line up:
You’ll be surprised how much smoother lender conversations become when you can answer “What are you buying, why, and how does it pay you back?” in two minutes.
Ask yourself:
If the only way the math works is with flawless growth, dial it back. Smaller first phase, longer term, or a mix of Mehmi Equipment Financing plus a BDC or CSBFP loan can be safer than one big, perfectly calibrated bet.
A (fictional but realistic) Thornhill-based HVAC contractor came to Mehmi with a familiar problem:
They were growing—adding staff, taking on more commercial work—but every slow month felt like a crisis because the line of credit never had breathing room.
What their bank had done
Over several years, every time they needed trucks or tools, the bank suggested:
It felt easy… until it wasn’t. The contractor was using a short-term tool to carry long-term assets.
What Mehmi did instead
After reviewing their cash flow and equipment list, we proposed a Thornhill-appropriate stack:
The result
Same business, same market, same Thornhill. Different structure.
Start by separating what you need into equipment and working capital. Use Mehmi’s Equipment Financing options (especially Equipment Leases) for vehicles, machinery, and tech, and look at Business Loans like a Working Capital Loan or Line of Credit for everything else. Then test some scenarios with Mehmi’s Calculator so you know what monthly payment your cash flow can handle before you talk to any lender.
No. Mehmi is best known for Equipment Financing, but we also provide a full suite of Business Loans—including Working Capital Loans, Lines of Credit, Merchant Cash Advance, Invoice or Freight Factoring, and Franchise Loans—to support growth, hiring, and expansion alongside your equipment needs. We simply prefer to keep equipment on leases or asset-based facilities where it belongs, and use loans for things that aren’t tied to a specific asset.
A common setup is:
This way you’re not depending on one lender for everything—and if the bank tightens up, your equipment and some of your borrowing power are already diversified.
Yes, but the structure will be different. Start-ups often lean more on:
Mehmi can often finance equipment for younger businesses—especially if the assets have strong resale value—while BDC’s Startup Loan products can support general business needs. (BDC.ca)
Use a DSCR mindset. Aim to keep your debt service coverage ratio at or above 1.25x—meaning your annual cash flow is at least 25% higher than your total annual debt payments. (BDC.ca) If a proposed loan or lease stack pushes you below that, consider:
That’s exactly the kind of conversation Mehmi will have with you before recommending a structure.
Gather your latest financials, a list of the equipment you’re looking at, and a rough budget for non-equipment costs. Run a couple of payment scenarios through the Mehmi Calculator, then reach out through our Business Loans or Equipment Financing pages. We’ll look at your cash flow, equipment, and existing debt and suggest a Thornhill-appropriate mix of Equipment Leases, Asset Based Lending, and Business Loans—designed to keep your day-to-day cash flow breathing.
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