Small Business Financing 101
Understanding how business financing works is the first step in making smarter financial decisions. Whether you’re just starting out or looking to grow, this guide breaks down the essentials of small business funding in Canada. From loan types to approval tips, you’ll find clear, practical insights.
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FAQs
Most small businesses start with term loans or lines of credit due to their flexibility and familiarity. Alternative options like merchant cash advances may also suit short-term needs.
Lenders look at your credit score to evaluate risk. A higher score generally improves approval chances and leads to better rates, though some lenders consider businesses with fair or low scores.
Timelines depend on the lender and product. Banks may take several weeks, while many online lenders offer approvals in a few days.
Not always. Some lenders require collateral like equipment or property, but others offer unsecured financing based on cash flow and business health.
Lenders usually require a minimum annual revenue threshold to approve financing. This amount varies by lender and product, but many Canadian lenders expect at least $120,000 in annual sales.
Explore our Products
Business
Term Loan
From $10K up to $500K1
A fixed and predictable repayment over a set term.
Business
Line of Credit
From $10K up to $500K1
Pay only for what you take from this financing on demand.
Flex
Funds Advance
From $5K up to $500K1
Flexible repayment built to align with your business’s natural ebbs and flows.
Coming soon
Explore more Business Financing Topics
Business Lines of Credit & Term Loans
Alternative Lending & Merchant Cash Advances
Funding Eligibility & Credit Requirements
Our Lending Process & Benefits
Coming soon