If you’re trying to figure out how to get small business capital in Canada you’ve probably already looked into banks. And if you have you know how that goes. Tons of paperwork, weeks of waiting, and a lot of the time they just say no anyway. Banks aren’t your only option though and most of the business owners we work with wish they’d known that sooner.

Options for Small Business Capital in Canada

Outside of banks there are a few different ways to get capital.

Alternative lenders like Canada Capital offer advances on your future receivables. Basically we look at what your business is already bringing in and fund you based on that. There’s a fixed cost and you pay it back daily or weekly over a set period. Could be three months, could be up to two years. Depends on the deal and what makes sense for your business.

Government programs exist too like the Canada Small Business Financing Program. Rates are lower but the process is slow and the requirements cut out a lot of businesses. If you’ve got months to wait around it might work for you.

Then there’s business lines of credit which are a different thing entirely. You get approved for a set amount and pull from it when you need to. We offer those as well but they solve a different problem than getting a lump sum of small business capital.

What Lenders Look At Before Giving You Small Business Capital

Banks care about your credit score, how long you’ve been in business, collateral, financial history going back years. A lot of businesses that are doing well right now still get turned down because something on their file from three years ago doesn’t look right.

We don’t work that way. We’re looking at your sales. Are you bringing in revenue on a consistent basis. That’s it. We don’t need you to put up your house. We don’t need a perfect credit score.

What You Need to Apply

Short application form and some basic financial info. That’s how most deals start with us. We’re not asking for three years of tax returns or a business plan before we’ll even talk to you.

Bigger deals need more paperwork but that comes later. To get the conversation going we just need enough to see if it’s a fit.

How Fast Can You Get Small Business Capital

Banks take weeks. Sometimes over a month and there’s nothing you can do to speed that up. They move when they move.

We’ve funded businesses the same day they applied. Not every deal goes that fast but most people hear back from us within 24 hours. The reason we can move like that is because we’re looking at your sales not waiting on the same stack of documents a bank would need.

What Does It Cost

First question everyone asks. We’re not a bank so the pricing doesn’t work the same way as a traditional interest rate on a loan. When you get an advance on your future receivables there’s a fixed cost attached to the funding. You see the full number before you agree to anything.

Payments come out daily or weekly depending on how the deal is structured. Our team breaks all of this down with you before anything is signed so you know exactly what you’re looking at.

Who Qualifies for Small Business Capital

Restaurants, retail, trucking, construction, salons, e-commerce, professional services. We work with most industries. A few exceptions like cryptocurrency but other than that if your business has consistent revenue coming in we’re open to it.

Bad credit isn’t a dealbreaker. No collateral needed.

Get Started

Apply here. Takes a couple minutes. Someone from our team calls you back and goes over the details.