What is Clara Capital?
Clara Capital is one of Canada’s most reliable sources for Small Business Loans. They pride themselves on being the lending partner that facilitates growth while providing exceptional service tailored to each client's needs.
What does Clara Capital do?
Clara Capital is one of the nation’s most reliable sources of business funding, offering quick and affordable options for various businesses. They specialize in Small Business Loans, Lines of Credit, Equipment Financing, Receivable Factoring, and other ancillary products, aiming to maximize growth potential for their clients.
What kind of loans does Clara Capital offer?
Clara Capital offers a diverse range of loan products tailored to meet the varied needs of businesses. These include Small Business Loans, Business Lines of Credit, SBA 7A Loans, Equipment Financing, Accounts Receivable Financing, Commercial Real Estate Loans, Construction and Ground Up Financing, Land Loans, USDA Loans, as well as specialized financing for Hospitality and Cannabis industries. Additionally, Clara Capital provides financing solutions such as Term Loans, Asset Backed Loans, and Merchant Cash Advances. With a wide array of lending options, Clara Capital aims to support businesses of all sizes and industries in achieving their financial goals.
Who does Clara Capital help?
Clara Capital provides funding solutions to a diverse range of businesses across various industries. Whether you're a small startup or an established enterprise, Clara Capital aims to support your financial needs. While the specific borrowing limits may vary depending on factors such as creditworthiness, business revenue, and the type of loan product, Clara Capital typically offers loan amounts ranging from a few thousand dollars to hundreds of thousands of dollars. To determine the exact borrowing capacity and eligibility criteria for your specific situation, it's recommended to reach out to Clara Capital directly and discuss your financing needs with one of their representatives.
What is the interest rates on Clara Capital loans?
The interest rates on Clara Capital loans start at 7.99%.
How long do I have to pay back a loan from Clara Capital?
The repayment terms for a Clara Capital loan typically range from 6 to 24 months.
Who is eligible for a loan from Clara Capital and what do they have to provide?
Eligibility for Clara Capital loans extends to Canadian and US business owners who have been in business for at least one year and generate a minimum annual revenue of $150,000. To apply, individuals must complete an online application and provide 3-6 months of bank statements.
How does repayment work and if approved when would I receive my loan funds from Clara Capital?
You can expect to receive funding from Clara Capital within 24 hours via wire transfer. Repayment options include both weekly and monthly schedules, providing flexibility to suit your business's cash flow needs.
What are the benefits of a Clara Capital Business Line of Credit?
Clara Capital Business Lines of Credit offer a seamless online application process, credit approval within 24 to 48 hours, and available credit up to $150,000. With APRs between 5.99% and 18.99%, businesses have access to capital whenever they need it, with no unused line fees and no pre-payment penalties. Plus, potential line increases are available every 8 weeks, and repayment options include both weekly and monthly schedules, providing flexibility for businesses.
What types of businesses can benefit from Clara Capital's Equipment Financing?
Clara Capital's Equipment Financing is ideal for a wide range of businesses, including those in transportation, hospitality, construction, technology, healthcare, and manufacturing industries. Whether you're looking to expand your fleet, upgrade your kitchen equipment, invest in construction machinery, or streamline your manufacturing process, our Equipment Financing options can provide the leverage you need for growth and expansion.
How quickly can I expect approval and funding for a Clara Capital Small Business Loan?
At Clara Capital, they prioritize speed and efficiency. Their Small Business Loans feature an accelerated approval process, with decisions typically made within 12 to 48 hours. Once approved, funds can be disbursed quickly, allowing you to access vital cash as you need it to support your business's growth and expansion plans.
What makes Clara Capital's Small Business Loans different from traditional lenders?
Clara Capital understands the challenges small businesses face when seeking financing, which is why they've streamlined the loan process to make it faster and easier. With loan amounts ranging from $10,000 to $1,000,000 and repayment terms of 6 months to 5 years, their Small Business Loans offer flexibility to suit your business's needs. Plus, with fixed weekly, bi-weekly, or monthly payments, you can gain greater clarity on your cash flow and plan accordingly.
What are the eligibility requirements for Clara Capital's Small Business Loans?
To qualify for Clara Capital's Small Business Loans, businesses need to have been in operation for at least 6 months, with a credit score of 500 or above and annual revenue of $150,000 or more. All industries are welcome to apply, and the application process is simple and straightforward, requiring only a 1-page application and the submission of the past 3 months of business bank statements. Once submitted, a dedicated Clara Capital Funding Specialist will reach out to discuss available options tailored to your business's needs.
