Driven

Avg. Rating: 5.0 (4 reviews)

Driven is Canada’s leading fintech dedicated to small businesses. It provides flexible capital, personalized support, and next-generation data science and technology to Canadian small business owners. Since 2006, Driven has empowered more than 17,000 Canadian businesses to survive, thrive, and grow to their full potential.

  • TIME IN BUSINESS: Since 2006
  • # OF CUSTOMERS: 17,000+
  • LOANS OFFERED: Business Loans
Visit site and apply

1-866-889-9412

support@driven.ca 130 Adelaide St W, Suite 3100, Toronto, Ontario, Canada, M5H 3P5
Call Center: 8:30am to 5:30pm, Canadian Eastern Time, Monday to Friday.
Support Offered:
  • Call Centre
  • Email
  • Social Media
  • Online Chat
  • FAQs
Availability: 24/7 availability, online and off

Products Offered

Below are all the products offered by this company.

Conditions, Rates & Summary

Interest Rate

Interest rates vary based on a number of factors taken from the details of your account and application. Rest assured Driven’s online application process will show you the exact cost of borrowing, before you sign to commit to the loan, and the interest is automatically included in your repayments to them. There are no hidden fees or charges.

Amount

When you apply for a Small Business Loan, you will be able to get a credit limit between $5,000 and $300,000.

Term 

Driven currently only offers 2, 3, 4, 6, 9, 12, 18 and 24 month terms.

Company

Driven is Canada’s leading fintech dedicated to small businesses.

Eligibility & Documents

Who is eligible?

Driven works with existing small to medium sized businesses across Canada in hundreds of different industries including restaurants, retail, auto repair, health and beauty, construction and more

What do you need to provide?

  • New customers: CRA documents will be required. Site visits will be required in most instances.
  • Existing customers: A site visit and CRA documents may be requested.

 

Repayment

How fast can you get the money?

Upon approval, the funds will be deposited into your account within 48 hours. You’ll receive notifications, sent to the email address used to sign up for your account.

Funding method

Upon approval, the funds will be deposited into your account within 48 hours. You’ll receive notifications, sent to the email address used to sign up for your account.

How does repayment work

A Driven Small Business Loan is considered a fixed loan, which includes specific terms and conditions that outline your preferred repayment schedule and a fixed interest rate and principal to be paid. These requirements differ from a traditional bank’s small business loan, where repayment is based on a minimum balance, or the interest on outstanding balances only.

They currently offer daily, weekly, and biweekly repayment options.

Videos

Frequently Asked Questions About Driven

What is Driven?

Driven (Formally Thinking Capital) is redefining how small businesses access capital in Canada by empowering them with smart ideas and the means to fund them.

What does Driven do?

Driven provides flexible capital, personalized support, and next-generation data science and technology to Canadian small business owners.

Is Driven safe?

Since 2006, Driven has empowered more than 17,000 Canadian businesses to survive, thrive, and grow to their full potential.

What is the term length on a Driven loan?

You can borrow from $500 to $300,000 on 2, 3, 4, 6, 9, 12, 18 or 24 month terms, with absolutely no hidden fees.

How long does it take to apply for a loan from Driven?

Driven's all-digital application process is quick and easy and typically takes less than 10 minutes. They ask for basic information about you and your business. They then ask you to securely connect your bank. And moments after you're done, they'll tell you exactly how much you can borrow—all without hurting your credit score.

How much can I borrow from Driven?

Driven will tell you exactly how much you can borrow straight away, but only you know how much you actually need right now. Make individual draws from within your overall limit, for whatever purpose you need, and funds will arrive in as little as 24 hours. Pricing for every draw is outlined up front before you commit, with nothing hidden in the small print. Some additional verifications may be required before funding can be released on your first draw.

How does repayment work with Driven?

You can choose the repayment schedule that makes sense for your business—from daily, weekly or bi-weekly payments, or pay early to save on interest.

Will applying for a Small Business Loan hurt my credit score?

For either consumer or commercial credit, applying for a line of credit will not impact your credit score. Driven will do a soft inquiry on your personal credit that will help them qualify you for a Small Business Loan.

How quickly will I receive my loan funds?

Applying for your Small Business Loan takes just a few minutes and credit decisions are instant. You’ll be given access to funds in as little as 24 hours.

What can I use the financing for?

The credit that is automatically approved for you in your dashboard can be used to pay invoices to your specific business suppliers. Additional capital you can apply for from your customer portal is deposited directly to your business bank account which you can do with as you wish. This financing can be used to make the purchases, investments, or fixes you need to grow and support your business.

Driven Reviews

Avg. Rating: 5.0 (4 reviews)
Thank you Driven

I needed help with some emergency expenses and was having a hard time getting additional financing. Driven was able to process my application and get money in my account in less than 3 days. The service is fantastic!

James
Great service by Driven

Best of the best. Amazing service and so professional. Moustafa Kamal was a real pro and takes care of my business needs.
Highly recommended to everyone

Gennaro
Business Financing from Driven

I've been dealing with Driven (used to be Thinking Capital) for years. The service is fast, effective and professional! Never thought borrowing for your business could be so simple. I want to say a big thank you to Cordia who not only makes you feel like your dealing with a friend but she's always quick, helpful and to the point! Thank you Cordia!!!

Betty
Business Loan from Driven

Excellent service provided by Daniel in Thinking Capital (now Driven). Really happy with the service.

Noel

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