Business Loans in Ontario
Greenbox Capital has a proven record of helping small businesses in Ontario access working capital and grow operations. Use this comprehensive guide to choose between our diverse options, apply online, and receive funds within 24 hours.
How to Get a Business Loan in Ontario with Greenbox Capital
Entrepreneurs looking for business loans in Ontario can choose from a variety of financing options that can prove to be crucial in managing cash flow, implementing tax planning strategies, and fund expansion plans.
In between equipment loans, merchant cash advances, business credit lines, and more, Greenbox Capital helps businesses secure as little as $3,000, or as much as $500,000. Our advisors study specific situations and help you secure the most appropriate low-cost funding options. What’s more? It only takes 24 hours.
What Types of Financing are Available to Small Businesses?
Small businesses are the backbone of the Ontario economy — generating new ideas, creating jobs, and driving growth across the province. Our bespoke financing options reflect this spirit of innovation, helping businesses build resilience and overcome long drawn-out application processes, frequent rejections, and unfavorable terms.
Consider some of our prominent services:
Small Business Loans
Small businesses in Ontario sometimes struggle to secure financing from traditional institutions, especially when looking for short-term small loans. Our lines of credit or term loans don’t just have more relaxed eligibility criteria; they also come with low interest rates — either fixed or variable — and are suited for a wide range of activities.
This small business financing can be used for day-to-day operations, to fuel growth, or to purchase specific equipment and machinery.
Merchant Cash Advances
With a merchant cash advance in Ontario, small businesses can trade future debit and credit card sales for a lump sum upfront. Because MACs don’t work like traditional loans, they have faster approval times and more flexible repayment options.
Rather than interest, businesses are charged a factor rate based on the outcome of an initial risk assessment. These loans are best suited for businesses with low credit scores and those that cannot put up strong collateral.
Collateral Loans
Meanwhile, businesses with sufficient assets can opt for a collateral loan. These secured loans allow you to access between $50,000 and $250,000 without restrictions on how you use the funds. Interest rates are decided on the type of collateral offered, the nature of your business, and your personal credit and repayment history.
Collateral loans are best suited for businesses seeking long-term funding, fund expansions and acquisitions, or purchase new equipment and inventory.
Business Line of Credit
This revolving credit works like a credit card — but with more favorable interest rates. A business line of credit in Ontario comes with a pre-specified limit that you can withdraw as much as you need, as and when you need it. Businesses only pay a fee based on a small percentage of the amount drawn.
There are no restrictions on how the money can be used, but credit lines are usually a sensible option for seasonal businesses looking to fill cash flow gaps during slowdowns. Funds can also be used to upgrade machinery, buy new stock, and enhance marketing.
Bad Credit Loans
Many of Greenbox Capital’s financing options cater to organizations with poor credit scores or startups that haven’t had the chance to build up good credit yet.
Our low credit, small business funding options are instead based on your company’s financial projections, annual revenue, and other metrics. They’re a favorable option for businesses that don’t qualify for loans from commercial banks.
Equipment Financing
While the term is generally associated with a distinct financial product, Greenbox Capital’s equipment financing services are a collective of small business loans specifically designed to help businesses secure essential machinery. Businesses looking for equipment financing in Ontario can benefit greatly from this distinct service.
Funds acquired through merchant cash advances or small business loans are tailored to help entrepreneurs upgrade their operations, enhance efficiency, and leverage the untapped potential of various tax deductions and credits.
What Industries are Eligible for Small Business Loans in Ontario?
Businesses operating in certain high-risk industries often face barriers to securing traditional financing — with hospitality services, construction, and food often left bearing the brunt of strict regulations. At Greenbox Capital, we don’t make such distinctions. Our clients span various diverse industries, including:
- Accounting Firms
- Attorneys
- Auto Dealers
- Auto Repair Shops
- Beauty Salons
- Cleaning Companies
- Construction Companies
- Convenience Stores
- Daycares
- Dental Practices
- Veterinarians
- Dry Cleaners
- Gas Stations
- Home Health
- Manufacturing
- Medical Practices
- Pharmacies
- Pool Construction
- Restaurants
- Retail Stores
- Security Services
- Staffing Services
Funding for Special Interest Groups
The Canadian economy needs more diverse entrepreneurs with viable business ideas to realize their dreams, and Greenbox Capital is determined to reduce the systemic barriers to success. We’re proud to have funded numerous:
- Women-Owned Businesses: Research shows that women-owned businesses have the potential to add $150 million to the GDP by 2026. Greenbox capital loans don’t just encourage more women to join the workforce, they directly contribute to this growth.
- Minority-Owned Businesses: Many minority entrepreneurs struggle to secure a small business loan in Ontario. Others report that their major struggle is limited capital and cash flow. Our flexible and fast financing options help overcome these setbacks.
- Veteran-Owned Businesses: Veterans in Canada have access to several government grants. However, these financing programs are hard to locate, hard to qualify for, and have lengthy application periods. At Greenbox Capital, we ease the process significantly.
Our comprehensive ISO partnership program allows independent brokers and brokerage firms to offer clients financing solutions up to $250,000.
How to Get Small Business Funding in Ontario
Here’s a step-by-step guide to securing equipment financing in Toronto, a merchant cash advance in London, a credit line in Kingston, or any other service in Ontario.
- 1
Assess:
Analyze your requirements/limitations to find the right loan with the most favorable terms.
- 2
Apply:
Submit an online application along with bank statements and other relevant documents.
- 3
Discuss:
A funding advisor will reach out to you within two hours to explain our alternative financing options and business loan interest rates.
- 4
Select:
Following your call with the financial advisor, commit to a funding option and repayment plan that works best for you.
- 5
Receive:
When steps 1-4 go without a hiccup, your funds are approved and deposited within 24 hours.
Why Choose Greenbox Capital’s Business Funding in Ontario?
Entrepreneurs looking for new business loans in Ontario are familiar with the typical long approval times or even rejection at times. At Greenbox Capital, our mission is to ease the process of securing funding so more businesses have the chance to reach their potential.
- Faster Approval Process: We pride ourselves on our quick turnaround times, with approvals granted within a few hours, and loans usually disbursed within a day.
- Relaxed Eligibility Criteria: We understand that good credit is not the only indicator of success. We consider many different criteria when approving loans.
- Flexible Payments: Balancing cash flow is a crucial goal of every small business. Our loans are designed to offer clients more flexibility, with an option of weekly payouts, and discounts for early payoffs.
Diverse Funding: Not all two operations have the same requirements. Our wide range of Ontario business funding options makes for more customized solutions.
How Our Solutions Help Ontario Businesses Succeed
| Company Type | Loan Type | Funded | Loan Term | Loan Benefits |
|---|---|---|---|---|
| Restaurant, Toronto | Restaurant Equipment Financing | $65,500 | 16 months | Used the funds to purchase new kitchen appliances, allowing them to serve 20% more customers |
| Veterinary Clinic, Ottawa | Merchant Cash Advance | $85,000 | 10 months | Upgraded facilities to reduce wait time and improve quality of care |
| Retail Store, Mississauga | Line of Credit | $40,000 | 12 months | Completed a long-standing renovation project to improve customer flow and boost sales |
| Medical Clinic, Hamilton | Merchant Cash Advance | $70,000 | 12 months | Upgraded diagnostic tools to reduce wait times and treat more patients |
Frequently Asked Questions about Ontario Business Loans
How to get a small business loan in Ontario?
To receive a Greenbox Capital business loan in Ontario, all you need to do is apply online. After submitting your relevant documentation, a financial advisor will reach out to you within an hour to finalize your application.
Can I get a loan for a business in Toronto?
Yes, you can secure funding for small businesses across Ontario, including Toronto, Ottawa, Hamilton, Brampton. Apply online to request assistance in your location.
Can I get a bad credit business loan in Ottawa?
Yes. While good credit scores are beneficial, they are not the only metric on which we judge creditworthiness. In fact, many Greenbox Capital loans help build good credit.
Where can I get a loan to start a small business in Aurora?
Receiving funding for a small business in Aurora takes as little as one business day at Greenbox Capital. Choose from a diverse range of funding options and use a business loan calculator to assess which best suits your needs.
How fast can I get a business loan in Oakville?
Once you fill out our online application, you will be contacted by a financial advisor in one hour. Following this call, approvals are usually granted within 2-5 hours and funds are transferred within one business day.
Where To Get Small Business Loans In Ontario
- Toronto
- Ottawa
- Mississauga
- Hamilton
- Kingston
- London
- Thunder Bay
- Windsor
- Kitchener
- Brampton
- Markham
- Peterborough
- Guelph
- Kanata
- Brantford
- Sudbury
- Belleville
- Sarnia
- Cambridge
- Oshawa
- Vaughan
- Caledon
- Halton Hills
- Milton
- Burlington
- Oakville
- Richmond Hill
- Stouffville
- East Gwillimbury
- Georgina
- Uxbridge
- Pickering
- Ajax
- Whitby
- Clarington
- North York
- Etobicoke
- Barrie
- Scarborough
- Innisfil
- Newmarket
- Aurora
- Welland
- Bowmanville
- North Bay
