Industry

Contractors and trades funding in Canada: what funders actually read.

The deposit patterns, seasonality and timing that decide how a Canadian contractors and trades file is read.

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How funders read contractors and trades files

Electricians, plumbers, HVAC and other trades have steady demand with seasonal peaks and tool and vehicle costs up front.

Deposits across jobs and service calls
Seasonal peaks, for example HVAC in summer and winter
Vehicle and tool lifecycle
Material costs paid before invoices are settled

A worked example

Illustrative arithmetic

A plumbing company in Edmonton with $64,000 a month in deposits takes $30,000 at 1.25 for a van and tools, repaying $37,500 over about six months.

Every figure on this page is illustrative arithmetic in Canadian dollars. It is not an offer, a quote or a promise of approval.

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.

Common questions

What do funders read first in contractors and trades files?

Deposits across jobs and service calls, then seasonal peaks, for example HVAC in summer and winter.

What is the money usually used for?

Most often: a work van or truck; tools and diagnostic equipment; hiring a crew ahead of peak; material deposits.

Is contractors and trades funding the same as for other trades?

The review reads the same things in every trade. What changes is the rhythm: electricians, plumbers, HVAC and other trades have steady demand with seasonal peaks and tool and vehicle costs up front.

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