Small Business owner working in bakery.

How does a Business Line of Credit work?

Does your small business need financing to help keep things moving in the right direction? Whether you’re looking to fund minor renovations or repairs, manage your cash flow, or build your inventory, a Business Line of Credit could be the perfect solution. And unlike other options out there, Journey Capital has the only true Line of Credit custom-built for small businesses in Canada. How does it work? And what makes it so different? Let’s take a look.

Key features

Our Business Line of Credit, ranging from $10,000 to $300,000, is designed for flexibility. Like a traditional line of credit, you pay only for what you use and withdraw more funds online whenever you need it. However, unlike a traditional line of credit, you can choose which weekly repayment option fits your business best: a fixed amount each week, or one that gets smaller over time. And no matter how many times you draw funds, you’ll always only have one consolidated repayment. Here are some other key features of our Business Line of Credit:

  • You can make a draw as low as $500 all the way up to your credit limit, or any amount in between.
  • Receive your funds via Electronic Funds Transfer (ETF) or enjoy real-time Line of Credit withdrawals via Interac e-Transfer in under 10 minutes.
  • If you draw again before you’re fully paid down on your first draw, then the new draw will be added to the existing balance, and the total amount is re-amortized over your term.
  • Repayments are made weekly, and you can choose which weekday works best for you.
  • Make an unscheduled repayment anytime you want, without any penalties.

How do I qualify?

Here’s what you need to qualify for a Business Line of Credit with Journey Capital:

  1. Your business must be based in Canada.
  2. You must have a business bank account with a Canadian financial institution.
  3. You must have business history of at least 6 months, with you as the business owner.
  4. You must make a minimum of $100,000 in annual sales.

How do I draw funds?

To make a draw from your Business Line of Credit:

  1. Log into your MyPortal account on
  2. In the main window, click the My Funds tab and select your Line of Credit.
  3. Click on Withdraw Funds (see below).
  4. Enter your desired amount.
  5. Click the Submit button.
  6. Your funds will then be transferred to your account.

How do I receive funds?

You can always receive your funds via Electronic Funds Transfer (EFT). However, Journey Capital is the first and only business lender that offers real-time Line of Credit withdrawals via Interac e-Transfer. This means you can withdraw as little as $500 or up to $25,000 on a single e-Transfer and receive your funds in under 10 minutes – any time, any day of the week, including holidays. Please note there is a $5 fee for each e-Transfer.

How do I make repayments?

Our Business Line of Credit offers two weekly repayment options to choose from. If you prefer the predictability of a fixed repayment that doesn’t change week to week, then choose our Fixed Repayment option. This option breaks down your total balance into equal weekly payments over the course of your term (on the weekday of your choosing). Your repayment amount will remain unchanged until you draw additional funds, then your weekly payment will be recalculated into a new equal, fixed amount. And if you do make an unscheduled repayment, don’t worry! Your balance will decrease but your fixed payment will remain the same.

If you prefer to pay down your principal faster and save on interest, then choose our Variable Repayment option. Your payments are broken down into a percentage of your principal plus interest every week, which will decrease over time. Your weekly repayment amount will then be automatically debited from your business bank account on the weekday of your choosing, so you can focus on your business.

The bottom line

Our Business Line of Credit offers unparalleled flexibility and convenience designed specifically for your small business. With credit limits ranging from $10,000 to $300,000, you can draw funds as needed and only pay for what you use, with the added benefit of choosing between fixed or variable weekly repayments.

Also, our easy-to-use MyPortal and the unique option of real-time withdrawals via Interac e-Transfer set Journey Capital apart from other lenders, providing you with quick and convenient access to funds. Whether you’re managing cash flow, expanding your inventory, or making essential renovations, our Business Line of Credit is designed to support your business on the path to success.

Looking for even more flexibility? Discover the advantages of dual financing.