Business loan brokers in British Columbia and Alberta

In British Columbia and Alberta, a broker who arranges a mortgage, including a commercial mortgage, must be licensed: by the BC Financial Services Authority in British Columbia and by the Real Estate Council of Alberta in Alberta. A broker who arranges any other business financing, such as equipment finance, a term loan, a line of credit, factoring or a merchant cash advance, needs no specific licence in either province. Your checks should match what you are borrowing.

Both provinces have deep broker markets, shaped by real estate in BC and by energy, construction and agriculture in Alberta. Here is what applies in each.

British Columbia

A new law took effect this month. BCFSA confirms the Mortgage Services Act came into force on October 13, 2026, replacing the Mortgage Brokers Act after a 15 month transition. Fasken's review of the bill describes four licence categories: mortgage brokerage, principal broker, mortgage broker and mortgage lender. The Act covers dealing, trading, lending and administering mortgages, so it applies to commercial mortgages and not to other kinds of business loans.

The market is large. MPA Mag reports British Columbia has more than 7,000 licensed mortgage professionals.

How to check a BC broker. BCFSA's Find a mortgage broker tool searches brokerages, branches, sole proprietors, principal brokers and individual brokers by name, location or licence number. You can filter by service, including dealing in mortgages and mortgage lending. If your deal is secured by property, confirm both the individual and the brokerage are licensed and active.

Alberta

RECA licenses mortgage brokers. The Real Estate Council of Alberta regulates real estate, mortgage brokerage, property management and condominium management. RECA's 2024-25 annual report says more than 20,000 individuals are licensed across those sectors, and that 44 new mortgage brokerages were licensed during the year.

How to check an Alberta broker. RECA ProCheck searches licensees by professional name or brokerage name and city. It shows the licence type and any disciplinary decisions from the last five years, which is more history than most registries offer.

How the two markets differ

The broker markets in the two provinces reflect their economies.

In British Columbia, much of the business lending activity runs through property. Commercial mortgages, construction loans and bridge financing are common, and many business finance brokers sit alongside or inside licensed mortgage brokerages. Tourism, hospitality and technology companies in Vancouver, Victoria and Kelowna also lean on equipment finance and working capital.

In Alberta, equipment finance is a large share of the work. Energy service companies, contractors and trucking firms finance heavy equipment and vehicles, and many need financing that follows contract payments or seasonal revenue. Invoice factoring is common where large customers pay on long terms.

Knowing which pattern your business fits helps you pick a broker with the right lender relationships.

What is not licensed in either province

Neither province, nor the federal government, licenses brokers of non-mortgage business financing. In Vancouver, Calgary or Edmonton, the equipment finance broker or working capital broker you meet is not licensed by anyone, and that is normal. Many are long established and well connected to lenders. You confirm quality through evidence: corporate records, lender references, client references and fees in writing.

The rules that still protect you

Criminal rate cap. Bennett Jones reports the federal criminal interest rate fell to 35% APR on January 1, 2025. Business purpose loans to a corporation or other entity between $10,000 and $500,000 are capped at 48% APR instead, and loans above $500,000 have no criminal rate. Loans to you personally, or under $10,000, stay at 35%.

Your agreement. Neither province has a disclosure statute for business financing, so ask your broker for each lender's own written offer. Compare the amount you receive, the total you repay, all fees and the payment schedule.

Corporate records. Check the brokerage on BC Registries or Alberta's corporate registry and match the name to the one on your fee agreement.

Government backed options

The Canada Small Business Financing Program is available in both provinces. ISED says it covers businesses with gross annual revenue of $10 million or less, with up to $1.15 million in total financing, including up to $1 million in term loans and up to $150,000 as a line of credit. The registration fee is 2% of the amount loaned. Farming businesses are excluded and are served by the Canadian Agricultural Loans Act Program, which matters for many Alberta operations.

Read our guide to the Canada Small Business Financing Program through a broker for rates and limits.

How to choose a broker in BC or Alberta

1. Match the broker to the deal. Commercial mortgage, equipment finance and government backed lending are different specialties. Ask what share of their work looks like yours.
2. Check the licence where real estate is involved. Use BCFSA's search in BC or RECA ProCheck in Alberta.
3. Ask for industry experience. In Alberta, a broker who knows energy services, construction or agriculture lenders will know which ones understand seasonal and contract-driven cash flow.
4. Get compensation in writing. Ask who pays the broker and how much. A fee requested before any lender has made you an offer is the behaviour to avoid.
5. See the lender's own offer. A good broker shows you each lender's terms directly.

Our guide on how to choose a business loan broker covers the full process.

BC and Alberta on the register

The register lists business loan brokerages across British Columbia, including Vancouver, Victoria and Kelowna, and across Alberta, including Calgary and Edmonton. Every entry carries a register number, status and last checked date. Where a brokerage holds a BCFSA or RECA licence, we link the entry to the regulator's record. You can check a broker's standing any time, and brokers can claim their entry for free.

For the national picture, read our guide to business loan brokers in Canada.