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How much can you borrow?

$10,000 – $300,000

Interest Rate

Starting at 6.99%

Terms

4 – 18 months

Who is eligible?

You have a Canadian-based business
You have an active commercial lease – not a home based or online business
You have average monthly sales of $15,000
You have been in business for at least 12 months

What do you need to provide?

Business start date and general business information (such as legal business name and address)
If you lease your space, lease expiry date
Online business bank account login information or most recent business bank statements in PDF format (previous 3 months)
Information on the business owner(s) (such as name, home address and birthdate)

How long does it take to get approved?

Under 30 minutes

How fast can you get the money?

2 days or more

How do you get the money?

Direct deposit

How do you repay the loan?

Evolocity will debit your business bank account daily for a small agreed-upon fixed amount , allowing you to budget for the repayment of your loan in smaller increments. Our online merchant reporting system allows you to track the balance of your loan from anywhere and at any time.

Calculator available?

No

Origination Fee?

Unavailable

NSF Fee

Unavailable

Early Repayment Penalty?

Unavailable