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Guide

A funding application checklist for Canadian owners a practical guide.

Complete files move in hours. Incomplete ones move in days. Here is the list.

✓ Checking what you qualify for does not affect your credit score.

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Overview

Complete files move in hours. Incomplete ones move in days. Here is the list.

The two documents

A signed application with the legal business name, address, ownership and your signature. Recent business bank statements, typically the last four months, every page, from the account that receives your deposits.

The three questions

What is the money for, with a quote or schedule if you have one? How much do you need, in dollars, not a range? How will it be repaid, in terms of the monthly deposits that will carry it?

Owners who can answer all three in a sentence each usually get a clear, fast decision.

The tidy-up

Check that the name on the application matches the account. Remove screenshots and send PDFs. Explain any large one-off deposit. List existing advances with their balances.

What not to do

Do not send statements from a personal account unless it receives business deposits. Do not apply to many places in one afternoon without asking about inquiries. Do not round a request up to the maximum.

Typical starting points

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.

Takeaways

Common questions

Do I need a business plan?

Not for these products. A clear purpose and clean statements do the work.

What if my business name differs from the account?

Say so and provide the registration that links them. A mismatch left unexplained slows the review.

Can I apply with a partner?

Yes. Include each owner's details as the application asks.

Keep reading

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