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Forward Funding is a Canadian based financial technology company that provides advances and term loans to businesses. They offer a variety of fintech products with 90%+ approval rates and competitive rates starting as low as 12%. Forward Funding Features One...
  • Services: 1
  • Rating: no reviews
Kingsmen Capital Investments is a Canadian-based company that provides financing solutions for business enterprises such as small business financing, equipment financing and corporate financing. They pride themselves on having a team of professionals with...
  • Services: 1
  • Rating: 5.0
Growth Street Capital provides financial solutions to Canadian businesses for capital growth and building opportunities. Since 2019, they have invested hundreds of millions to 250+ companies. They help clients achieve goals through their specialisations:...
  • Services: 1
  • Rating: 5.0
Loans Canada provides its customers with an easier way to apply for loans and other financial services through partnerships with one of the best financial institutions. By making the process simple, you can instantly connect with the best loan offer despite...
  • Services: 3
  • Rating: no reviews
2M7 provides quick financial solutions to Canadian businesses to access alternative funding and merchant cash advances. With 13 years of experience, they have developed a propriety system to analyze risk and decide creditworthiness. 2M7 features The financial...
  • Services: 1
  • Rating: no reviews
Greenbox Capital provides quick, easy, same-day funding to small or mid-sized businesses. Industries from the United States, Puerto Rico and Canada can receive at least $3,000 and up to $500,000 in business funding. Greenbox Capital features Greenbox Capital...
  • Services: 1
  • Rating: no reviews
OnDeck focuses on supporting and empowering small businesses through financial solutions and exceptional service. They offer flexible terms and rates where small businesses can expect a quick response to loan applications. OnDeck Features OnDeck doesn’t...
  • Services: 1
  • Rating: 5.0
iCapital is a 100% Canadian financial lender trusted by thousands of Canadians and businesses with lots of funding options and exceptional customer service. iCapital Features iCapital offers an easy 3-step application for funding of up to $250,000. Choose...
  • Services: 1
  • Rating: no reviews
Merchant Growth offers the most efficient and accessible financial services to small businesses in Canada. They can provide friendly customer care and transparency through innovative approaches and technology. Merchant Growth features One of the benefits...
  • Services: 1
  • Rating: 5.0
Limited Time Offer: From March 13-June 30, 2024: Get up to $600 cash bonus. New members can get a cash bonus on new chequing, high-interest savings and credit cards. Coast Capital is a financial co-op that puts the success of its members first. Coast Capital...
  • Services: 5
  • Rating: 4.0
CIBC is a North American financial institution dedicated to providing high-quality client experience and shareholder returns through its personal, business and commercial services. With over 11 million clients in Canada, the United States and around the...
  • Services: 7
  • Rating: 5.0
Jeeves provides financial services powered by technology to empower businesses globally and help companies grow to their full potential. Entrepreneurs know how to operate and grow a business hence their mission to deliver a modern approach in the financial...
  • Services: 1
  • Rating: no reviews
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Best Business Loan Brands in Canada

You might be looking for the best business loan brands in Canada to take your company to the next level. Businesses like yours are essential to the growth and success of the Canadian economy. However, it is still challenging for a few small businesses and entrepreneurs to get business loans from a bank.

Fortunately, things have changed for good in the last decade. Small businesses now have access to alternate lending brands. These offer loans customized to the needs of the business.

The business loan brands offer competitive terms and rates to small businesses.

Best Business Loan Brands

Here are a few best business loan brands in Canada that are trustworthy and secure.

forward funding review - What is a Merchant Cash Advance?- comparewise

Sharp Shooter Funding

Sharp Shooter Funding is relatively new, yet it's amongst Canada's most popular business loan brands. It was established in 2015 and offered small businesses quick and straightforward funding options. A small business should be operational for at least 100 days to be eligible for a loan. The company has been accredited by Canada's lending association, making it trustworthy.

This business loan brand offers loans of up to $300,000 for a maximum of 60 months. Sharpshooter funding has a comparatively low-interest rate, ranging between 5.49% and 8.29%. It also offers flexible repayment terms with daily, weekly, bi-weekly, and monthly options. They offer personalized service to their customers.

Lending Loop

Lending Loop is one of the best business loan brands in the country, offering peer-to-peer banking options. They were established in 2014 and offer high loan amounts to small businesses and start-ups. Small businesses who need working capital can apply for loans from this platform. Their loan is financed by one or more lenders.

Lenders can analyze and choose which businesses they want to fund. Since it is a peer-to-peer loan, they have slightly more strict eligibility requirements. Your business should at least be operational for one year to secure a loan. It should also have annual revenue of $100,000.

The owner's credit score should be above 600 to be eligible for a loan. At Lending Loop, you can apply for a loan for up to $500,000 for up to 60 months. The interest rate is pretty competitive, ranging between 5.6% and 29.9%.

Ondeck

Ondeck was established in 2006 and is among Canada's most popular business loan brands. The company is a global small business lender with five offices in the USA, one in Australia, and two in Canada. Ondeck has lent over $12 billion to date in the form of flex loans, loans of credit, and fixed-term loans.

This business loan brand has more than 100,000 customers worldwide. However, your business should be a little seasoned to be eligible for a business loan. Ondeck is accredited by the Canadian Lenders Association.

Your business should be operational for at least one year with annual revenue of $100,000 to be eligible for a loan. It would also help to have a personal credit score of more than 550. Ondeck offers loans of up to $300,000 with an interest rate ranging between 8% and 29%.

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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

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FAQs about
Business Loan Brands

How much business loan can I get in Canada?

Your loan amount would depend upon the annual revenue of your company and the period it has been operational. A small business operating for a year is eligible for a loan amount of up to $300,000. If your business is growing, you can eventually take up a business loan of up to $1 million.

Can You Get a Loan to Start a Business in Canada?

Different private institutions and a few banks offer loans to start-ups. However, their payment terms would be a little strict, and the interest rates will be higher. If you want to secure a loan as a Canadian start-up, your credit score should be over 600.

What Is the Average Interest Rate on Loans in Canada?

The interest rate charged by a private lender or a bank depends on the loan amount and the risk. If your company is relatively new, they will charge a higher interest rate. When you secure a loan from a bank, the interest rate will be between 2% and 13%. However, if you use an alternative lender, the interest rate can go as high as 45%.

Is Business Loans Tax Deductible?

Yes, the interest rate you pay on your business loans is tax-deductible.

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