Lender types
When the bank says no because of write-offs, a B lender is usually the next stop — not a private lender. Here's who they are, what they cost and how they read business income.
The short answer
B lenders are regulated banks, trust companies and credit unions that underwrite outside standard bank guidelines. They accept business bank statements and financial statements instead of relying on line 150, which is why most stated income mortgages in Canada are placed with a B lender rather than a Big Five bank.
Lender tiers
The shortlist
Classic Alt-A self-employed program
One of the longest-running alternative lenders in Canada. Its Accelerator and classic programs review business bank statements and financial statements for borrowers whose tax returns understate cash flow.
Schedule I bank, alternative lending arm
A federally regulated bank with a dedicated alternative single-family division. Commonly used for self-employed purchases and refinances where income is documented through business deposits.
Aveo alternative program
National lender with an alternative lending line used for business-for-self files, bruised credit and non-standard income structures.
Broker-only alternative programs
Broker-channel lender with stated income and alternative documentation options for incorporated and sole-proprietor borrowers.
Flexible underwriting
Smaller alternative lender that reviews files manually, which helps when income is seasonal, commission-based or spread across several entities.
Provincially regulated options
Provincial credit unions in BC, Alberta and Ontario are not bound by the same federal stress-test rules and often have their own business-for-self programs.
Lender names are listed for information only. We are not affiliated with, endorsed by or speaking on behalf of any lender, and availability varies by province and file.
Requirements vary by lender and by file.
Send a few details and we'll show you the number a self-employed lender would actually use.
A B lender is a regulated bank, trust company or credit union that underwrites mortgages outside standard bank guidelines. They accept alternative income documentation such as business bank statements and financial statements, and price for the added flexibility.
Commonly used alternative lenders include Home Trust, Equitable Bank, CMLS Financial, B2B Bank, Community Trust and a number of provincial credit unions. Availability depends on the province, the property and the borrower's profile.
Yes. Most B lenders are federally or provincially regulated financial institutions with the same consumer protections as any other mortgage. The difference is in underwriting flexibility and pricing, not in the legitimacy of the mortgage.
Yes. Stated income and business-for-self programs are one of the main reasons B lenders exist. Income must still be documented and declared honestly — the difference is which documents are used to establish it.
Expect a rate premium over the best bank rate plus a lender fee, often around 1% of the mortgage. The exact cost depends on credit, down payment, property type and how well the business income is documented.
Often yes. Many borrowers use a one- to three-year term with a B lender to establish a track record, then refinance with an A lender once tax returns or credit support a bank application.
Send your details and we'll review your business income the way a self-employed lender does — no credit pull to start the conversation.