Manulife One - Mortgage for business

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Enjoy financial flexibility for your business

It takes a lot of time and effort to manage your business, and we know having the right tools is important. Creating financial flexibility with a secured line of credit or commercial mortgage can help you manage cash flow, save on interest and grow your business – on your own terms.

With Manulife One for Business, you can:

Access the equity in your commercial property at any time
Free up cash flow by choosing payments that work for you
Save thousands of dollars in interest
Simplify your bookkeeping by reducing the number of accounts you need to keep track of
Become debt-free sooner by using your business income and savings to reduce your outstanding balance

Is Manulife One for Business right for you?

Yes, if you have:

Been in business for at least three years
Managed your investment property for at least three years
Kept your income taxes up-to-date and maintained a good credit history
A multi-residential property, office building, condo, retail plaza or light industrial building
A need for a loan between $250,000 and $5,000,000

Manulife Bank Select

See if your building qualifies:

Type of property
Eligible for Manulife One for Business	Not eligible for Manulife One for Business
Office building Retail plaza, strip mall, shopping centre Light industrial Multi-residential property (single title with 5 or more units)	Environmentally sensitive business (gas station, auto shop, dry cleaner) Single use/hospitality (parking lot, self-storage, car dealership, movie theatre, hotel, restaurant, bar, golf course) Medium or heavy industry (mining, manufacturing, agriculture) Real estate development (property under construction, speculative property, vacant land, leased land) Not-for-profit organizations

Property location
Alberta	Calgary Edmonton Fort McMurray Grande Prairie Lethbridge Medicine Hat Red Deer
British Columbia	Abbotsford Chilliwack Courtenay Kamloops Kelowna Prince George Vancouver (greater area) Vernon Victoria
Manitoba	Brandon Winnipeg
New Brunswick	Fredericton Moncton Saint John
Newfoundland	St. John's
Nova Scotia	Halifax
Ontario	Barrie Belleville Brantford Cambridge Chatham-Kent Guelph Hamilton Kingston Kitchener-Waterloo London North Bay Oshawa Ottawa Peterborough Sarnia Sudbury St. Catherines/Niagara Toronto (GTA) Windsor
Québec	Granby Saguenay Saint-Hyacinthe Drummondville Montréal Ottawa - Gatineau Québec City Saint-Jean-sur-Richelieu Sherbrooke Trois-Rivieres
Prince Edward Island	Charlottetown
Saskatchewan	Regina Saskatoon

How does it work?

Your primary Manulife One for Business account is a secured line of credit with a variable interest rate. You use – and repay – the money on your own terms. If you need some cash for things like day to day expenses or major purchases, you use it and then repay it when your income comes in. It’s just that simple.

If you prefer to lock in some of your borrowings, you can create up to five sub-accounts within your primary Manulife One for Business account.

What are sub-accounts?

Sub-accounts are smaller fixed term commercial mortgages (fixed interest rate or variable interest rate) within your primary account. You have flexibility to choose the features for each commercial mortgage sub account that work best for your business, such as the dollar amount, payment frequency and number of years.

Main and sub-account overview
	Loan to value	%
Property value	$1,000,000
Main account (credit line)	$500,000	50%
Amortizing sub-account	$150,000	15%
TOTAL LOAN	$650,000	65%

Benefits

Improve day to day cash flow.

With a secured line of credit, you can access money when you need it for business expenses such as operating costs and big purchases. You can even re-borrow up to 65% of the money you’ve already paid back.

Make debt payments on your own terms.

If cash flow is tight, you can make interest-only payments on your line of credit. You can also choose the payment frequency for your commercial mortgage(s) that best fits your needs – and your budget.

Save thousands of dollars in interest.

If you have some extra cash on hand, you can pay back as much - or as little – of the original loan amount as you want. Flexibility to repay your loan without a penalty can save you money on interest costs – money that can be spent on growing your business.

Customize your commercial mortgage features.

With Manulife One for Business, you can divide the balance of your secured line of credit into up to five different sub accounts – each with its own amount, term and interest rate. Customizing your mortgage lets you borrow money in a way that works best for you – and your business.

Simplify your business banking.

An all-on-one banking and mortgage solution brings your mortgage, savings, debt and income together within a single account. You don’t need to worry about transferring money from one account to another. See how simple your business banking can be. Check out a sample monthly statement.

Access your money

When you need money to run your business, you can get it – any way you want. You can write cheques, pay bills, file your taxes, make Interac^® Debit purchases, and withdraw cash at thousands of ATMs across Canada. You can also use online banking, telephone banking and our mobile app.

Compare

Compare Manulife One for Business vs. a traditional commercial mortgage

Manulife One vs. Traditional commercial mortgages
	Traditional commercial mortgage	Manulife One for Business
Access to credit limit	Full amount paid in a one-time lump sum One term with the same interest rate	Access money at different times when you need it Line of credit with the option to create fixed rate, fixed term sub accounts
Principal repayment	Must start making principal and interest payments immediately Cannot re-borrow money as the balance is paid off	Pay down principal on your own terms Option to make interest-only payments Re-borrow your principal as you need it
Prepayment privileges (fixed term and fixed rate)	Usually not available	Repay your line of credit balance at any time, without penalty Option to repay up to 20% of the fixed rate, fixed term sub accounts each year without penalty
All-in-one banking and mortgage account privileges	Not available	Combined business lending and chequing account

Resources

Don't take our word for it.

See what business owners are saying.

3 key things a business owner needs to know

Learn how you can access your equity, alleviate cash flow pressure and save on interest with Canada's most flexible commercial mortgage for owner-occupied

3 things an investment property owner needs in a mortgage

A flexible repayment plan, access to equity, and the opportunity to save on interest, see how with Manulife One for Business you can have it all.

FAQ

You can borrow up to 65% of the commercial property value (defined as lower of property value and purchase price).

The credit line has no fixed amortization and paying interest monthly is acceptable. The sub account requires monthly payments of principal plus interest.

No. We’ll work with you directly to determine what makes the most sense for your business.

See all mortgage FAQ

Manulife One for Business