Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Clearbanc is a venture capital that is headquartered in Toronto. However, Clearbanc is unique in its approach as it provides businesses funding for a fee rather than taking an equity stake. It was first established in 2015 by Michele Romanow; investor on CBC’s prime show Shark Tank. Clearbanc is great for small businesses and start-ups as they do not do credit checks. Rather, their approval is based on other factors like revenue, ad performance, and more. Clearbanc is the largest eCommerce investor in the world. They’ve even been featured in a number of business magazines like Forbes and TechCrunch, and work with plenty of huge online companies across the globe, such as Amazon, Facebook, and Google.
Since Clearbanc operates mainly online, they can cater to potential clients from almost anywhere in Canada. However, in order to qualify for one of their business advances, your company will have to be based in the field of eCommerce or SaaS (Software as a service). Here are a few other elements you’ll need to get approved:
Essentially, if your eCommerce or SaaS company has been active and generating a decent revenue for at least 6 months, then it will have a good chance of being eligible for a business advance through Clearbanc. Luckily, applying is relatively easy and can be completed 100% online, as long as you have the proper documentation, such as:
Before you can properly qualify for an advance, the experts at Clearbanc will need to verify that you’re running a legitimate company with a solid foundation. Don’t worry, they will not share your information with any outside parties. If they’re willing to go through the same application process, you can also apply with a business partner if you wish.
Now let’s discuss some of the things that set Clearbanc apart from other eCommerce or SaaS business investors. After all, the health of your company is important, so it pays to do your research. Here are just some of the positive features you’ll discover if you become one of Clearbanc’s many clients:
Remember, Clearbanc is a business investor, not a business lender. The products they offer are not business loans, but rather cash advances. As such, you won’t have to pay an interest rate, nor a loan origination fee. However, there are a few associated costs that you’ll have to factor into your budget, including but not limited to:
As mentioned, Clearbanc states that they will list all your potential fees upfront before asking you to sign on as an official client. The amount you actually end up paying in fees will be based on several factors, such as your predicted day-to-day sales, business metrics, and market data. Although payments can be automatically withdrawn from your business bank account, you can also request they be debited via ACH (Automated Clearing House), which allows credit and debit card transactions.
Whether your business is only 6 months old or has been in operation for years, it’s always important to consider its financial health and choose the best source of financing available. So, while Clearbanc is a highly rated eCommerce investor and is endorsed by many, it’s smart to weigh the benefits and drawbacks of their services before you apply:
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
---|---|---|---|---|---|
Business Loan | $10,000 - $10,000,000 |
|
|
|
|
Does everything they say they do! Removes the bias from traditional funding and gives everyone a fair chance!
Beware of this company “Clearbanc”! This company is a joke! Once you get approved for the capital you requested, weather you used up all your funds or... read more
Want to show off your rating on your website? Copy the code below to embed our review widget on your website.
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan. Loans Canada is not a mortgage broker and does not arrange mortgage loans or any other type of financial service.
When you apply for a Loans Canada service, our website simply refers your request to qualified third party providers who can assist you with your search. Loans Canada may receive compensation from the offers shown on its website.
Only provide your information to trusted sources and be aware of online phishing scams and the risks associated with them, including identity theft and financial loss. Nothing on this website constitutes professional and/or financial advice.