Small Business Loans Online
Obtain the working capital necessary for your business's growth with our short-term small business loans. Apply online for a Greenbox Capital® small business loan and receive funding within just 24 hours.
What is a Small Business Loan?
A business loan for small business funding is a form of financial assistance provided by lenders to support the growth, operations, or expansion of a small enterprise.
Conventional banks usually decline most short-term, small amount business loans. As an alternate lender, Greenbox Capital® offers diverse online small business loans, fostering growth. These include merchant cash advances, credit lines, and collateral loans. Our alternative loans range from $3,000 to $500,000 based on business needs, typically $30,000 to $100,000.
Do you need help with small business loans in Canada? Once you apply, our skilled Funding Advisors will discuss options, guiding you through the process and ensuring the best fit for your business. They remain available for inquiries throughout the process, ensuring a seamless experience.
Who Should Apply for a Small Business Loan Online?
Do you need a small business loan? Alternative small business loans are ideal for:
- Businesses looking to open another location
- Businesses looking to purchase or upgrade equipment, furniture, supplies, or inventory
- Businesses with low credit or in need cash flow during a seasonal rush or slowdown
- Minority-owned, women-owned, and veteran-owned businesses
- Brokers, attorneys, and accountants
- Auto dealers and beauty salon, cleaning business, convenience store, and dry cleaner owners
- Dental practitioners, medical practice owners, pharmacy owners, and veterinarians
- Daycare owners and home health care agencies
- Construction companies and security services
Irrespective of your industry, our skilled Funding Advisors will collaborate closely with you, guiding you in choosing the optimal funding solution and enabling you to attain your business objectives while maintaining a healthy cash flow. We provide help for small business throughout Canada.
How to Get a Small Business Loan in Canada
- 1
Submit Your Application
Collect three months of bank statements and relevant documents. For expedited approval, link your bank account using a service like Plaid which provides the transactional data directly from your business bank account.
- 2
Select Your Funding
A Funding Advisor will contact you within one hour (during regular business hours) to finalize your application and discuss funding choices.
- 3
Receive Funding
Once you and your Funding Advisor identify the suitable funding option, approval and deposit can occur within 24 hours.
- 4
Establish Repayment
Payments will be automatically deducted from your business's daily or weekly credit and debit card sales, with amounts based on your sales volume.
How Can Small Loans Help Your Business?
Alternative small business loans offer versatile usage without limitations. Ideally, applying for small business loan serves to:
- Support growth plans and high-ROI investments like new equipment and strategic purchases.
- Fund expansions, mergers, acquisitions.
- Seize seasonal business prospects, such as bulk inventory purchases.
- Fund expansion projects, open new locations, or increase production capacity.
- Obtain capital to launch a new venture, covering initial expenses and operational costs.
- Bridge gaps in cash flow, ensuring smooth day-to-day operations and financial stability.
- Secure funding for purchasing or renovating business premises or real estate.
- Facilitate international trade by financing import/export activities and managing related expenses.
- Consolidate existing debts with a new loan offering better terms and lower interest rates.
- Obtain the necessary funds to acquire an existing business, facilitating growth through acquisition strategies.
Types of Small Business Loans
| Type of Small Business Loan | Term Length |
|---|---|
| Term Loans |
|
| SBA Loans | 5 – 25 years |
| Business Lines of Credit | 6 months – 2 years (renewable) |
| Equipment Financing | 1 – 5 years |
| Invoice Financing | 1 – 3 months |
| Merchant Cash Advances | 3 – 18 months |
| Commercial Real Estate Loans |
|
| Microloans | 1 – 5 years |
| Working Capital Loans | 3 months – 2 years |
| Startup Loans | 1 – 5 years |
| Personal Loans for Business | 1 – 5 years |
Interest Rates
When it comes to small business loans, interest rates significantly impact borrowing costs, as they determine the extra amount paid beyond the principal.
Rates vary based on factors like creditworthiness, loan type, and market conditions. Lower rates save money, aiding business growth, while higher rates increase expenses, influencing profitability and financial planning.
Small Business Loans Online Qualification Requirements
Acquiring an online small business loan from conventional lenders often proves challenging – the process is extended, usually spanning over two months, and is invasive, offering no assured approval.
Luckily, Greenbox Capital’s online small business loan approval doesn’t solely rely on your credit score: we prioritize your business’s overall well-being. When evaluating your best loan for starting a small business, the following are key factors we take into account:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Small Business Loans Q&A
Is getting a small business loan online good for my business?
We offer easy funding for small businesses and quick SMB loans to empower businesses. It’s crucial to secure such loans for valid reasons – to enhance, expand, or nurture your business.
Do I need a business plan to get a small business loan online?
No business plan is necessary for loan approval. Our assessment centers on your business’s financial health and potential, aiding in finding the ideal funding solution and allowing you to get quick and easy small business loans.
What do I need to know before getting a small business loan online?
Precisely determine your funding for SMB needs and possess a clear vision for utilizing funds to enhance, grow, or expand your business.
Do you require a down payment to get a small business loan?
We do not require a down payment. Small business loans are secured through collateral.
Where To Get Small Business Loans In Canada
- Edmonton
- Calgary
- Red Deer
- Lethbridge
- Victoria
- Vancouver
- Abbotsford
- Surrey
- Richmond
Manitoba
- Winnipeg
Northwest Territories
- Yellowknife
Yukon
- Whitehorse
- Toronto
- Ottawa
- Mississauga
- Hamilton
- Kingston
- London
- Thunder Bay
- Windsor
- Kitchener
- Brampton
- Markham
- Peterborough
- 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
Nunavut
- Iqaluit
- Halifax
Quebec
- Quebec City
- Montreal
New Brunswick
- Fredericton
- Moncton
Newfoundland and Labrador
- St. John’s
- Regina
- Saskatoon
Prince Edward Island
- Charlottetown
