Today, IOU Financial offers small business loan products across most American States and almost every Canadian province, with the exception of Quebec. Since issuing its first small business loan in 2009, IOU Financial has funded over $700 million in small business loans, out of nearly $11 billion in applications received. Here’s their story.
Small business owners just starting out may think a company credit card is unnecessary. But even new companies can receive benefits and perks, along with expense management, to help the business to grow. Over time, building good business credit becomes a calling card to opportunities that produce the leverage needed to advance a small business into a thriving empire.
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.
Coast Capital Savings teams up with OnDeck Canada to give thousands of Canadian small businesses access to financing in as little as 24 hours.
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.