Working Capital Loans for businesses in Canada.
These include business bank statement loans based on the cash flow. Quick processing and program for Quebec province. Apply today.
Call 919-771-4177 for more info.
FAQ Frequently asked Questions
What are the qualifications for a business loan in Canada?
Canadian business with $10,000 or more in monthly revenues, bank balances of at least $1,000 average and limited nsf history have excellent programs to get approvals under.
Can we still be approved with bad credit?
Very low fico scores and bad credit programs are available for Canadian companies. Credit scores as low as 500 and below can qualify for a line that can be renewed and borrowed against continuously.
Can businesses in Quebec get a loan?
There are several programs available for Quebec. Approvals can be obtained within 2 to 4 hours and funding into the business checking account within 24 to 48 hours.
Can we get a 2nd loan if we already have an existing loan?
You can get a second business loan for a Canadian company in addition to your existing loan. This is called a 2nd position and you will be approved for the maximum amount and payments you can afford.
Canadian cash flow loan choices
These are based on the company’s business cash flow. The company needs to have the following:
– $10,000 per Month or more in total deposits each of the most recent 3 months.
– 5 or more separate deposits per month.
– An average daily balance of $1,500 or more. This bank statement loan is available to most Canadian companies.
Canadian accounts receivables financing
Businesses that have provided goods and services to another business. The company then issues an invoice. These businesses can get an advance against that invoice. An advance can be a paid to the company waiting to get paid on the invoice. The advance percentage is normally 70% to 80% of the amount of the invoice.
Canadian businesses can use their sales and equipment to get funding. Most Canadian businesses have sales or equipment. Many will qualify.
Good news for companies in Canada. Alternative loans will give Canadian companies more ways to correct cash flow issues.
Go to the SBA for assistance with business plans and financial statements.