Business & commercial
- Six months of trading under current ownership
- $10,000+ average monthly revenue
- Canadian business chequing account
- Director or owner able to give a personal guarantee
- Six to twelve months of bank statements at offer stage
Home/How It Works
Application to funding
From application to offer, step by step.
No branch visit and no paperwork to begin. Here is what happens, in order, and what we need from you at each stage. Approval, terms and timing are decided by the lender and are not guaranteed.
You tell us the amount and the purpose
Three short screens. The loan you want, enough about your business or income for us to know which lenders to approach, and how to reach you.
- No documents to upload at this stage
- Free, with no obligation to accept any offer
- Under $10,000, the form tells you we are the wrong option
A specialist reviews your file
One named person, not a queue. They confirm the details, ask what the money is actually for, and explain which products may fit and which do not.
- We aim to contact you within 24 hours
- Your file can be considered by several lenders, not just one
- You will be asked for bank statements at this point, not before
If a lender approves, you get terms in writing
The lender's offer sets out the amount, the rate, the payment, the number of payments and the total cost of borrowing in dollars. Not every application results in an offer.
- Anything registered against you or the business is disclosed here
- Lenders may check your credit as part of their assessment
- Walking away at this stage costs you nothing
You decide, and the lender funds
If you accept, it is usually an electronic signature and a void cheque, with funds by direct deposit, or paid to your vendor on an equipment purchase.
- Typically within 48 hours of approval. Not guaranteed
- Your first payment date is shown in the offer before you sign
- Your specialist remains your contact after funding
Eligibility
What you'll need.
Requirements differ between business and personal files, and between lenders. These are common criteria. Meeting them does not guarantee approval.
Personal
- Age of majority in your province
- Canadian resident with a chequing account in your name
- Verifiable income — employment, self-employment, pension or disability
- Room in your existing obligations for the new payment
- Two recent pay statements or a notice of assessment
Timing
What affects how long it takes.
Timing depends on the lender and on how quickly your documents arrive. The most common delay is waiting for bank statements, so having six months of PDFs ready helps. The timings below are typical targets, not guarantees.
10 minTo complete the application
24 hrsOur target to contact you
24 hrsLender decision possible on a complete file
48 hrsTypical time from approval to funds