More than likely you’re hear to learn about Working Capital in Canada. There are many options to fund working capital for your business. These could include regular bank loans to things like revenue based funding. Regular bank business loans in Canada are great, but the fact of the matter is, MOST / MANY Canadian businesses don’t qualify (like 80%). In other words, only 15-20% of the companies out there qualify for traditional bank business loans in Canada. Luckily, there are lenders that can help with revenue based funding, which means it’s much easier to get the working capital you need.
In terms of the revenue based funding options we discussed for Canadian business, we’ll look at a few of the better options. We’ll dive into the basic qualifications and show you how they work (basics). From there, we’ll discuss the types of businesses that may be eligible as well as those that are not.
Apply online securely here –> DAC (make sure to select Canada and NOT USA) or please contact Info@TheBroker.Finance or (714) 271-8524
Working Capital in Canada Option One For Smaller Fundings
This option for securing working capital requires a 500 or higher credit score and would be considered a smaller sized business loan. Usually, you will pay these funds back within about 3-6 month period. Below we’ll give a quick rundown of the basic qualifications for this funding option.
Some of the qualifications are pretty self explanatory. For the ones that may not be, we’ll discuss them in more detail below the list.
- 500+ credit score
- 6+ time in business requirement
- Your business needs $10,000 in monthly sales or revenue over the most recent three months
- There should be at least 5 or more deposits per month
- Can’t be a one person business
- Must be a Canadian Citizen or Permanent Resident
- Repayment spans over 3-6 months
Apply online securely for quick business loans in Canada here –> DAC (make sure to select Canada and NOT USA) or please contact Info@TheBroker.Finance or (714) 271-8524
Canadian Working Capital Option Two For Larger Fundings
This Canadian revenue based funding option can potentially provide up to $500,000 worth of working capital. The beauty is, it also only requires a 550 or higher credit score.
Below is a list of the basic requirements etc. for this working capital option in Canada:
- Loan amounts up to $500,000
- You can typically borrow 1-2 times your monthly revenue
- Repayment is spread over 6-12 months
- Credit score requirement is 550 or higher
- Must be in business for 6 months or more
- Monthly revenue must be $15,000 or more
- Again, you’ll need to be making at least 5 monthly deposits into the bank account
- Must have at least 2 employees (if you’re a sole proprietor)
Apply for Canada Working Capital securely online here –> DAC (make sure to select Canada and NOT USA) or please contact Info@TheBroker.Finance or (714) 271-8524
List of Industries Served for these Canadian Business Funding Options:
- Restaurants
- Medical
- Dental
- Franchise Motel
- Party Shops
- Liquor Stores
- Automotive
- Healthcare
- Pawnshops
- Logistics
- Wholesale
- Salon and Spa
- Retail
- Nightclubs
- Beauty Industry
- Hotels
- Construction
- Manufacturing, and more
Apply online securely here –> DAC (make sure to select Canada and NOT USA) or please contact Info@TheBroker.Finance or (714) 271-8524
