Business Term Loan
Reach your next milestone with fixed term financing.
A short-term infusion of capital to help boost your business to new heights. From $10K up to $500K1 in as little as 24 hours2.
A business loan on your terms.
More choice
Whether you need a lot or just a little, we’re here to get you to that next milestone. Choose loan amounts ranging from $10,000 up to $500,000, with term lengths ranging from 4-24 months.
Repay your way
The choices don’t stop there. We offer daily or weekly repayment options. Choose the frequency that makes the most sense for your business and we’ll do the rest. We set up automatic repayments on your behalf because you have more important things to do.
Clear pricing
We offer competitive rates compared to other online lenders, but we are more expensive than your bank. Our lending advisors will clearly explain how pricing4 works so you can make the best possible decision for your business.
Do more with Dual Financing.
Get where you’re going faster and bundle your Business Term Loan with a Business Line of Credit. Use your loan to fund planned projects and enjoy financing on demand with a line of credit for any unplanned expenses that come your way.
Chart a new path with a Business Term Loan.
Got big plans for your small business? Put your term loan to work for a variety of needs to reach that next milestone.
New Equipment
Expansion
Advertising
Major renovations
Website development
New signage
Funding your path forward is simple.
1
Apply online
Complete our online application to find out how much you qualify for. Applying is 100% risk free. There is no obligation to continue and applying will not affect your credit score.
2
Fast funding
Get up to $500,0001 in as little as 24 hours2,3. Your funds are deposited directly into your business bank and ready to use to move your business forward.
3
Automated repayments
We’re all about keeping things simple so we setup convenient automatic repayments for you. Choose from daily or weekly, whatever suits you best.
Business Term Loan FAQ
A Business Term Loan is best for businesses with stable revenue looking to invest in growth, such as renovations, equipment, marketing, or hiring. You receive a lump sum upfront and repay it over time with fixed or variable payments.
A Business Term Loan is a good fit if you need access to a larger amount of capital and prefer predictable repayment over a fixed period. It’s best suited for established businesses with stable revenue looking to invest in long-term growth, such as store renovations, equipment purchases, marketing and advertising, website development, and more.
To qualify, most businesses need to show at least 6 to 12 months of operating history and a minimum annual revenue of $120,000. Credit score requirements may vary, but Journey Capital also considers your business’s cash flow and overall health, not just your credit score.
Yes, in many cases. While credit score is a factor, Journey Capital also evaluates your business’s performance and ability to repay. Many business owners with less-than-perfect credit still qualify.
Repayment is typically made through scheduled daily or weekly payments over a fixed term. Repayments may be automatically deducted from your business bank account.
Yes, you can repay your loan early. Depending on your agreement, you may save on interest. Your Lending Advisor can walk you through the details.
Repayment terms usually range from 6 to 24 months depending on your eligibility and loan amount. Your loan offer will outline the exact term based on your business’s needs and profile.
Dual-Financing allows you to maintain access to funds through another product, such as a Business Line of Credit, while still repaying your Term Loan. It’s designed to give you flexible capital without needing to pay off one product before accessing another.
A Business Term Loan provides a lump sum up front with fixed repayments over a set period. A Business Line of Credit is revolving, so you can draw funds as needed up to your limit and repay flexibly. Term loans are ideal for big investments, while lines of credit are better for ongoing or unexpected expenses.
Flex Funds Advances (merchant cash advances) are repaid through a share of your sales and usually get approved faster. Term Loans have fixed payments and often come with lower costs over time.
You’ll typically need to provide basic business information, recent bank statements, and proof of monthly revenue. The application process is 100% online and takes just a few minutes.
Interest rates vary depending on your credit profile, business performance, and loan amount. Once you submit your completed application and are approved for funding, we’ll show you a personalized offer with a clear rate and repayment plan, and no hidden fees.
Journey Capital offers both secured and unsecured term loans. Most of our small business loans are unsecured, meaning no collateral is required. Your loan terms will clearly state if any collateral is needed.
Trusted by thousands of Canadian business owners just like you.
Funding subject to lender approval.
Flex Funds is not a loan but a sale of future credit and debit receivables.
1 Financing above $300,000 may require additional security as collateral and are subject to additional approvals.
2 On average, file processing can take 24-72 hours.
3 On average, funds are transferred within 24 hours upon receipt of an accepted financing contract.
4 Pricing for Business Term Loans ranges from 16%-25%, simple interest per year (for each dollar borrowed, the amount of interest paid ranges from $0.16-$0.25 per year). Lower rates available and may be offered to business with strong creditworthiness.