BMO unveils small business bundle as part of its Canadian Defence Community Banking Program

By Pavithra R

BMO Bank of Montreal has announced the launch of a new small business banking bundle, aimed to expand support for Canadian military Veterans, retirees, and spouses who own a business. 

The offer supports entrepreneurs from the Canadian Defence Community, from startup to succession planning. 

“When Canadian Armed Forces members transition from active duty to civilian life, more than half find themselves either running or working for a small business. We wanted to find a way to give back to these members. In support, we’ve created a banking program that will keep more money in their pockets while also providing resources to help them navigate uncertain times and grow. This has been an especially challenging time for all main street businesses across the country, but we continue to stand behind them in partnership as we look to help propel them forward,” said Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal.

Members of the Canadian Defence Community will benefit from:

• 50% discount on monthly plan fees on select business chequing accounts, and lower borrowing costs for SMB loans or lines of credit
• Preferred pricing with Moneris payment processing to provide customers with flexibility in payment 
• A tailored entrepreneurship guide with advice on business ownership

“BMO has spent many years listening to serving military, Veterans, and their families to deliver what you need. The transition from military to civilian life has many challenges, none more so than who to trust with your finances. BMO has excellent personal and now business banking financial options,” said Major General (Ret.) David Fraser, Defence and Security Advisor at BMO.

Established since 1817, BMO is a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. As the 8th largest bank, by assets, in North America, it helps customers make the most of their money. Since 2008, BMO has served as the Official Bank of the Canadian Defence Community. The bank has created a Canadian Defence Community Banking (CDCB) Program, designed to serve the banking needs of regular force personnel, military families, veterans, reserves, recruits, and retirees, as well as Department of National Defence (DND) and Staff of the Non-Public Funds civilian personnel, the RCMP and the Canadian Coast Guard.