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Find A LenderSharpShooter Funding: Overview
SharpShooter Funding offers Canadian business owners a variety of solutions to meet their small business funding needs. If you’re an owner looking for additional capital to help support and grow your business, SharpShooter Funding provides an alternative option for those business owners who have been turned down by the banks and credit unions.
How Can Someone Become a Client at SharpShooter Funding?
Depending on what kind of business you’re running and how much annual revenue it’s expected to generate, it can sometimes be difficult to qualify for financing with banks and credit unions. This is where SharpShooter Funding can help. SharpShooter caters to potential clients who operate in many different industries, including but certainly not limited to:
- Dental
- Healthcare
- Wholesale
- Automotive
- Construction
- Food & Beverage
- Logistics
- Retail
Before you apply, keep in mind that qualifying for business funding may require a few more steps than applying for traditional business financing directly through a bank. However, if you’re already a business owner or you have a viable business plan, you can check out SharpShooter’s pre-approval form, which only takes a few minutes to fill out.
What Does the Application Process Look Like?
Another great benefit that SharpShooter offers is its online application process. This means that Canadian business owners can apply from anywhere in the country and from the comfort of their own home when they have the time.
If you’re looking to get pre-approved, there are a few personal details you’ll have to fill out, such as your:
- Full Name
- Phone Number
- Email Address
- Home Province/Territory
You’ll also have to provide some information related to your business, such as:
- Your operation’s average monthly revenue ($5,000 – $100,000+)
- The starting date of your enterprise
- How much funding you need
- When you need the money by
- Your business plan
If applying for some of their services (Start-Up Funding, etc.), you may also have to provide copies of specific documents, such as your:
- Driver’s License
- Business License
- Business Plan
- Bank Account Number
- Equipment Quote
- VOID Cheque or Pre-Authorized Debit Form
- Articles of Incorporation
What Business Financing Products Does Sharpshooter Offer?
SharpShooter offers numerous types of business funding solutions. Some of their most notable products include, but aren’t restricted to:
Working Capital – One of the main solutions in SharpShooter’s repertoire, a working capital loan is a lump sum of money that you can use to finance your short-term business goals, such as small investments, payroll bonuses, and new inventory. In this case, you can borrow up to $300,000 with a repayment term of 6 – 24 months and your installments can be made on a weekly or daily basis.
Unsecured Business Funding – There are a few types of unsecured funding available through SharpShooter, such as short or long-term loans and business lines of credit. The main benefit here is that no collateral is necessary for approval. Although this can lead to higher interest rates, your assets (vehicles, buildings, etc.) will not be at risk if you default on your payments.
Merchant Card Processing – For businesses that accept debit and credit card transactions, merchant terminals are perfect for improving cash flow, giving you direct access to working capital, and adding convenience to your operation.
Commercial Mortgages – You can apply for a commercial mortgage to finance any buildings or other real estate properties for your business. Fortunately, these mortgages are even open to clients with bad credit.
Start-Up Funding – Remember, SharpShooter doesn’t just fund existing enterprises. They can also set new businesses up with working capital loans of up to $150,000 with repayment terms of 6 months to 4 years and interest rates of 7.9% – 19.9%. Other start-up funding tools that you can access include business credit cards, small business grants, BDC microloans, and creative crowdfunding. You can even finance business equipment, then use it as collateral for a secured loan with better conditions.
What Sets SharpShooter Funding Apart From Its Competitors?
As mentioned, one of the main selling points of SharpShooter Funding is that they cater to clients from all walks of life, in any industry, Canada-wide. Not to mention the huge variety of business financing solutions they offer. Some of their other benefits include:
- Same-day approval for loans of $1,000 – $300,000
- Adjustable/competitive interest rates
- Fewer requirements than banks, credit unions, and government lenders
- Approval is largely based on your business’s health, rather than its credit
- Funding times of 1 – 3 business days (for certain products)
- Canadian business funding amounts of up to $250,000 per 5-years
- Positive reviews and honourable mentions from:
- Forbes
- National Post
- Sports Illustrated
- Yahoo! Finance
- Canadian Lenders Association (CLA)
- deBanked
- Loans Canada
Frequently Asked Questions
Does SharpShooter Funding approve bad credit borrowers?
- Offer one or more assets to be used as loan security (collateral)
- Find a qualified guarantor to co-sign your application
- Request a smaller amount of financing or shorter repayment period
What can I use a business loan for?
- Purchasing, leasing, or repairing business equipment
- Workspace renovations, repairs, and additions
- Expansion to new buildings, properties, and areas
- Consolidating high-interest debts
- Stocking up on inventory, supplies, and other necessities
- Advertisements, promotions, and other marketing strategies
