My Semi-Annual Survey of Commercial Bankers in the North
Twice a year, I reach out to the commercial bankers in the Prince George area to find out what's happening with rates and who they're interested in lending to. Each time I get slightly different answers, depending on the appetite of head office and the risks they see in different markets.
You may not think the rate you get, or the risk attached to your commercial portfolio, is influenced by what's happening in Toronto or Vancouver, but it is. Lending decisions get made with the whole country in view, and Northern BC borrowers feel those shifts too.
The Big Picture: Fall 2026
5-year fixed rates have nudged up since spring. RBC is now quoting 5.25% to 6.00% for 5-year terms (up from 4.40% to 5.10% in my spring survey), and TD is seeing 4.75% to 6.00% for average, non-investment-grade borrowers (up from 4.50% to 6.00%).
Floating rates are steady. BMO is pricing at Prime + 0.50% to Prime + 1.50%, depending on the strength of the application.
Pricing is deal by deal. Scotiabank and National Bank both declined to quote a range, and TD "prices to risk." Translation: a clean application, solid financials and a real banking relationship are what move your rate.
Owner-occupied real estate is the sweet spot. BMO and National Bank both called it out, and National Bank's policy allows up to 100% financing on owner-occupied commercial property, subject to credit approval. Retail is still the tougher sell.
Commercial Lending Responses by Bank
Responses are listed in the order they arrived from my favourite commercial bankers. Other banks and credit unions were surveyed but hadn't responded at the time of posting.
Bank of Montreal (BMO)
Rates: Floating rates anywhere from Prime + 0.50% to Prime + 1.50%, depending on the strength of the application.
Preferred lending: Owner-occupied real estate and businesses, and investor-owned real estate: industrial, commercial and multi-unit residential apartments. Retail is still limited appetite, but for the right client BMO would entertain it.
Contact: Fabio Stancati, Senior Relationship Manager, Diversified Industries, Northern B.C., Canadian Commercial Banking
Phone: 778-349-2412
Email: fabio.stancati@bmo.com
National Bank of Canada
Rates: Competitive with the six major banks; pricing is deal specific.
Preferred lending: Owner-occupied commercial real estate is a strong fit. National Bank's policy allows up to 100% financing, subject to credit approval.
Contacts: Tony Stancati, Qi Xie (Manager, SME – Business Central), or Rahul Singla, their newest Senior Account Manager. They're happy to discuss specific opportunities as they come up.
Tony's email: tony.stancati@nbc.ca
Qi's email: qi.xie@nbc.ca
Address: National Bank of Canada, Prince George Branch, 300 Victoria Street, Prince George, BC V2L 4X4
Scotiabank
Rates: Commercial pricing can vary quite a bit depending on the borrower, transaction, structure and overall banking relationship. Rather than quote a broad range that may not be meaningful, Scotiabank prefers to look at each opportunity on its own merits and price it to the underlying risk and structure.
Preferred lending: Relationship-based commercial banking. They're interested in well-established businesses and owners looking for a banking partner to support growth, acquisitions, real estate financing, refinancing and other more involved financing needs. They're a particularly good fit where there's a chance to understand the broader business and build a longer-term relationship beyond a single loan, and they're always happy to have an initial conversation.
Contact: Kurtis Friend, Senior Client Relationship Manager & Market Lead, Scotiabank Canadian Commercial Banking
Mobile: 778-675-4920
Email: kurtis.friend@scotiabank.com
TD Commercial Banking
Rates: TD continues to price to risk, so rates vary with the borrower, industry and lending type. Outside of Prime-based lending, 5-year rates for average, non-investment-grade borrowers are typically in the 4.75% to 6.00% range.
Preferred lending: No specific industry bias. Every sector has its strong performers and challenges; what matters most is a well-managed business that adapts to changing environments. As a relationship bank, TD does its best work with fully franchised clients who value long-term partnerships.
Contact: Francois Cardin, Account Manager, TD Commercial Banking. Francois is the main point of contact for Prince George and surrounding regions, and connects clients with TD's Small Business, Wealth, Retail, Equipment Finance and Real Estate teams.
Address: 400 Victoria Street, 3rd Floor, Prince George, BC V2L 2J7
Phone: 250-614-2963
Email: francois.cardin@td.com
RBC Royal Bank
Rates: 5-year terms are falling between 5.25% and 6.00%.
Preferred lending: Stable companies and real estate. RBC is fully open to new business.
Contact: Norman Hebert, Senior Relationship Manager, Commercial Financial Services. Norm will connect you with the right business or commercial lender.
Address: 550 Victoria Street, 2nd Floor, Prince George, BC V2L 2K1
Phone: 250-960-4594 (office) | 250-552-1466 (mobile)
Email: norman.hebert@rbc.com
Want an Introduction?
Let me know if you're interested in any specific area of the market. I'm happy to get you more information or put you in touch with people I know.
KEY TAKEAWAY: Money is available for good deals in Northern BC, but 5-year rates have crept up since spring and banks are pricing every file on its own merits. Get your financials in order and talk to a banker before you make an offer, not after.
Dave Fuller, MBA | Team Powerhouse Realty
dave@nbccommercial.ca | 250-617-7467 | www.nbccommercial.ca