Time is a critical component when it comes to small business financing. Most of the time, when you need money as a small business owner, you need it now. But not all organizations offer fast business loans in Canada. If you go with traditional lenders, such as banks, it can take weeks, or even months to get the money you need.
Fortunately, there are companies like Just Capital that specialize in financing for small businesses. The entire process, from your application to the funds being transferred to your account, only take a few days.
In this article, we highlight 4 small business financing options that let you access the funds you need, when you actually need it.
Small Business Loan
A small business loan is a simple way to grow your business. You can easily access the capital you need at a fixed and planned cost. Plus, there’s a lot of different ways you can use it:
- Invest in new equipment
- Renovate your space
- Move to a new location
- Purchase inventory
- Or literally anything else that could improve your business
The conditions required to secure a small business loan vary greatly from a lending company to another. Time in business, credit score, monthly revenue, and more are all analyzed to build the best possible offer. This process, while taking months with traditional banks, take only a few days with specialized lenders.
If you’re looking for fast business loans in Canada, check Just Capital financing options and ask for a free estimate today. You could get up to $2,000,000 with our small business loans.
Things to remember about Just Capital’s small business loans:
- Fixed financing: fixed monthly repayment and fees
- Maximum amount: $2,000,000
- Timeframe: money available within two days after approval
Business Line of Credit
A business line of credit lets you access cash when you need it. Once you get approved for a maximum amount, you are free to use it all at once, or split it. You can use the cash whenever you need it, and up to the maximum limit allowed. The best part: you pay only what you use AND it’s revolving (you can re-use it again once you’ve paid it back)
Because it’s basically a pool of cash you can use at any time, it’s a very popular and accessible financing option. It helps you cover recurring costs, face obstacles, and seize new opportunities without having to reapply for a loan every time.
A business line of credit is another example of fast business loan in Canada. Make sure to request a free estimate at Just Capital and you will receive your line of credit within two days.
Things to remember about Just Capital’s line of credit:
- Flex financing: you can access cash whenever you need it
- Maximum amount: $250,000
- Timeframe: money available within two days after approval
Merchant Cash Advance
A merchant cash advance is a flex financing option that adjust to your business activity. In a few words, you get a one time sum of money in exchange of a percentage of your future sales. This means that you pay back faster during highs and don’t drown under repayment during lows. If you want to know more about cash advance, we covered it in details in our business cash advance explained article.
Because of the nature of a cash advance (linked to your sales), you don’t need collateral AND your credit score have a lesser importance. As a result merchant cash advance have a high approval rate while being relatively fast. After you’ve applied, you can expect the funds transferred into your business account within two business days.
A merchant cash advance is the best example of fast business loans in Canada. Apply today to get a free quote at Just Capital.
Things to remember about Just Capital’s line of credit:
- Flex financing: you repay at your own pace
- Maximum amount: $500,000
- Timeframe: money available within two days after approval
Bad Credit Business Loan
It can be difficult to find any “traditional” business financing when you have a bad credit. And even if you get an offer for the money you need, rates and collaterals can be extremely high.
Fortunately enough, you still have options. Companies like Just Capital offer solutions specifically designed for business that have a poor credit. More than that, they get you the capital you need in a very short period of time.
At Just Capital, we offer a Bad Credit Business Loan that allows you to invest in your business and keep growing, even with bad credit. Ask us for a free estimate and see how much we can get you.
Things to remember about Just Capital’s line of credit:
- Bad credit financing: you get approved, even with bad credit
- Maximum amount: $1750,000
- Timeframe: money available within two days after approval
Here you have it, a list of four ridiculously quick business financing you can check now. All these fast business financing options are available at Just Capital. Make sure to contact us today and we’ll find you the best solution for your business.