Elect Capital Review 2026Apply Now Check if I Qualify ↓
Written and analysed by Smarter Loans Editorial Team · Reviewed by Rafael Rositsan
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Three questions checked against Elect Capital's published criteria, per product. No application started.
Elect names its gate in plain numbers: $15,000 in monthly revenue and about a year in business, with strong files considered at 8 months.
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3 reviews from borrowers who used Elect Capital. Each is submitted by a verified borrower and moderated for authenticity; it renders as written, positive or not, and lenders cannot remove it.
The team at Elect knows their stuff and approved our bakery for $50K.
Elect helped me build a patio for my restaurant this summer. Great team, awesome experience.
I used Elect to grow my inventory before Black Friday. I have a pajama store.
Elect Capital is a direct business funder headquartered at 302 Bay Street, Toronto, providing Canadian small and medium-sized businesses with short-term working capital of $10,000 to $1,000,000. It underwrites on business revenue, cash flow and trading history rather than the owner's personal credit score, and also operates in the UK, US and Australia.
Elect Capital offers one core product - short-term, unsecured working capital - available for different needs: fast business funding, unsecured business funding, short-term business funding and working capital funding. All ranges run $10,000 to $1,000,000 over 3 to 12 months, with no collateral required.
Elect Capital provides working capital from $10,000 up to $1,000,000 for Canadian businesses. The amount you qualify for depends on your monthly revenue, cash flow and trading history rather than your personal credit score.
Pricing is a factor rate starting at 1.29, repaid in daily or weekly payments, plus a 3% origination fee; there are no admin fees. Repaying early earns a discount: 10% within 30 days, 5% within 60 days. Your exact factor rate depends on your business profile - review the total dollar cost in your offer before accepting.
Repayment terms run from 3 to 12 months, on a daily or weekly payment schedule aligned with your revenue. Early repayment is rewarded: a 10% discount if repaid within 30 days, 5% within 60 days.
Your business must be registered in Canada as a corporation or partnership and generate at least $15,000 in monthly revenue. The standard credit policy asks for at least 1 year in business; strong businesses can be considered from 8 months. Underwriting weighs revenue, cash flow and trading momentum.
Yes. The application is a short online form that takes about 2 minutes, with no paperwork, no branch visits and no hard credit pull. You'll need basic business details and recent bank statements.
No. Elect Capital performs a soft credit check at application, which does not affect your score. A full credit check is only run if you decide to proceed with an offer, and they say they will tell you before doing so.
Apply before 2 p.m. local time and you can receive an offer the same business day; approval can come in as little as 4 hours. Once you accept, funds typically arrive within hours - most businesses are funded within 24-48 hours.
Once you accept your offer, the capital is deposited directly into your business bank account - often within hours of acceptance.
No. Elect Capital's funding is unsecured - no property, equipment or other assets are required, and its published FAQ states no personal guarantee is required.
Elect Capital funds businesses in all Canadian provinces and territories, from Vancouver to Halifax.
Most sectors, including restaurants, retail and e-commerce, manufacturing and distribution, healthcare, hospitality, construction, accounting and professional services, information technology and law firms. Common uses include bridging seasonal cash flow, funding contracts, covering supplier invoices and managing tax payments.
Each business works with a dedicated, Canadian-based funding advisor rather than a call centre. You can reach the team at [email protected] or +1 (437) 837-2406; the Canadian head office is at 302 Bay Street, Toronto.
