No two businesses are alike, and the same goes for their financing options. One common misconception is that unconventional borrowers should accept any loan for which they can qualify. But there are many other lending options from which to choose before making a loan commitment.
No matter how large or small, every business will need to have access to credit in some way or another. Good business credit scores will make a difference in the type, rates, and terms of loans that will be offered. These steps go a long way to ensure a healthy and viable business now and into the future.
There are several legitimate lenders who approve loans with no credit check needed. Getting approval for no credit needed loans is pretty simple. Basic requirements are that the applicant is over 18 years old with a full-time job, and has a bank account or debit card to make payments. Sounds simple enough. Yet a closer look is warranted to get the full picture.
New findings from a survey led by iCapital shed light on the greatest challenges for Canadian small businesses. Read to find out the top three reported obstacles in 2019—and the best ways to overcome them.
Since the company was founded in Canada in August of 2015 they’ve provided nearly $39 million in funding to almost 4,000 Canadian small businesses.
As the competitive landscape evolved, however, some of the original players went out of business, new ones arrived from the United States and elsewhere, and rates have lowered and grown more consistent between competitors. As a result, the Victoria B.C.-based small business lender Company Capital found that Canadian small businesses now have different priorities.
There are more small business loan options available today than ever before, but finding the right loan for your business may require a little digging. Fortunately, there are plenty of great options available – you just have to know where to look.
Money Line Capital: The First Stop for Canadian Business Owners in the Transportation and Construction Industries
For the last eight years Money Line Capital has been a top destination for Canadians that require financing or leasing products in order to launch a transportation or construction business. Over that period the company has helped countless businesses acquire the tools they need to get started, and typically continues providing funding assistance for a majority of their equipment expenses as they grow.
After 14 years supporting restaurants and food service providers in Canada, and with a wide range of products to choose from, Econolease’s sales staff is able to determine what lease, loan or rental product best fits each customer’s unique situation.
After being denied six business loans, Rhonda realized that because her business was new, most banks would not offer her enough financing to start her new venture. However, she had heard about an alternative to traditional lending known as a merchant cash advance, or MCA. Encouraged, she took off in the direction of getting funding via an MCA. And she is not alone; millions of start-ups and established businesses take advantage of the benefits of this type of financing. But before they do, they must understand the ins and outs of merchant cash advances.