Do I need permanent residency?

Requirements vary by funder; legal status to operate in Canada and Canadian identification are needed.

Will a short credit history stop me?

Not on its own. Deposits carry more weight in revenue-based reviews.

Can foreign credit history be used?

Generally not directly. Explain your background in a note.

Can Newcomers to Canada Get Business Funding?

Can newcomers to Canada get business funding?

Yes. Newcomers who run a Canadian business with a business bank account and steady deposits can be reviewed. A short Canadian credit history is common and is weighed alongside business revenue. Several programs also support newcomer entrepreneurs.

Key facts

Revenue-based reviews focus on business deposits
Six to twelve months of steady revenue can be enough to review
A lightly used Canadian credit card builds history
Register the business and open a business account early

How a newcomer file is read

Revenue-based reviews focus on the business's deposits. A newcomer with six to twelve months of steady revenue can be reviewed even with only a short Canadian credit history. The owner's identity, residency status and the business's registration are verified as usual.

What helps

A registered business and a business bank account from the start.
A Canadian credit card used lightly and paid on time to build history.
Consistent deposits from customers rather than transfers from family.
Prior business experience abroad, explained in a short note.

Programs worth knowing

Futurpreneur for entrepreneurs aged 18 to 39.
Settlement agencies and community organizations that run entrepreneurship programs.
Community loan funds and community futures organizations in many regions.
BDC advisory services and financing.

Where Canadian files usually start

Monthly revenueTypically from around $20,000 a month in deposits for Canadian files. The exact line varies by funder and by file.

Time in businessTypically about 12 months. Newer businesses can be reviewed, but the options narrow.

Account healthLimited low-balance or negative days. Funders read the last few months of bank statements for this.

CreditScores from 500 are considered. A score of 600 or higher opens more options and better offers.

DocumentsA signed application and recent business bank statements, typically the last four months.

Existing advancesFiles with an existing advance can be reviewed, including second position.

If your question is about your own file rather than the general rule, the fastest route to a specific answer is a review. Send a signed application and your last four months of business bank statements, mention this question in a note, and the response will address it directly. You can also call (305) 384-8391 and ask before applying; there is no cost to ask.

Questions owners ask next

How fast can a newcomer build a fundable file?

Register the business, open a business bank account in its name and run every customer payment through it from the first month. Six to twelve months of steady deposits gives a reviewer something concrete to read, even when personal credit history is only a year or two old.

Experience running a business abroad counts too. A short note describing it, with the dates and the type of business, helps a reviewer understand the file.

Sources and review

Reviewed by the Merchant Fund Express team on October 12, 2026. Official pages checked as of that date.

Keep reading

Merchant cash advance CanadaHow an advance against future card sales works Revenue-based financing CanadaRepay a fixed multiple as a share of revenue Funding requirementsTypical starting points for Canadian files Can a non-resident owner get business funding in Canada?It depends on the funder and the file. A Canadian business with a Canadian bank account and revenue can be reviewed even if an owner lives abroad, but identity verification, guarantees and enforcement are harder, so options are narrower. A Canadian-resident owner or director on the application helps.Futurpreneur alternativesWhat Futurpreneur publishes and who it fits

Educational information only. It is not legal, tax or accounting advice.

Can newcomers to Canada get business funding? A plain answer.