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Company Capital: Overview

Company Capital has been helping small business owners across Canada get the financing they need for 20 years. They believe in providing Canadian business owners with customized financing options, you tell them what you can afford and they tailor your loan to meet your needs. You can choose from:

  • Term loan
  • Line of credit
  • Merchant cash advance

Company Capital believes in real people. You’ll work directly with a real person to make sure you get the financing your business needs and the terms and conditions you need. Company Capital has both an online application and a downloadable version. Once you submit an application you could be approved and funded within two days.

How Can My Business Qualify With Company Capital?

Remember, the financing that Company Capital offers are aimed at businesses and all of their products may involve slightly different requirements for approval. That said, there are 2 basic requirements your business must have to qualify with Company Capital:

  • In operation for a minimum of 6 months
  • Able to accept debit and credit cards (for Merchant Cash Advances)
  • Earning a minimum monthly sales revenue of $5,000 (for Term Loans & Merchant Cash Advances) or $10,000 (for Cash Lines)

As you can see, Company Capital has easier approval requirements compared to other business lenders in Canada. However, there are a few other things that might help your business get approved for better rates and payment conditions, such as:

  • A good business credit score
  • Collateral to offer as loan security
  • A cosigner for your application (if your finances aren’t strong yet)
  • Little to no outstanding debt
  • Not involved in a consumer proposal or bankruptcy

In the end, your chances of approval will depend mainly on your sales history and cash flow, which is why Company Capital will need to review your most recent bank statements. To properly qualify, your statements must show that your business is receiving at least 8 deposits per month from several sources.

How Can I Apply For Business Financing With Company Capital?

The Company Capital application process is relatively simple and can be completed online, by email, or over the phone in just a few minutes. Here are some of the details and documents you may have to provide during the process:

  • Full name
  • Name of business
  • Email address
  • Phone number
  • Latest 60 days of business bank statements
  • Latest 6 months of merchant processor statements
  • Government-issued photo identification (driver’s license, passport, etc.)
  • VOID cheque

What Makes Company Capital Stand Out Among Other Business Lenders?

While Company Capital is based in Victoria, British Columbia, they’ve been offering financing to businesses all over Canada for more than 20 years. They also have an approval rate of over 90% on all of their products. Here are some of the other positive features that make Company Capital stand out amongst its competitors:

Term Loan

  • Flexible payment terms of 3 – 18 months
  • Adjustable interest rates starting at 6.87% ($6.87 per $100 borrowed)
  • Daily or weekly micropayments automatically debited from your account
  • Funding times of only 1 or 2 business days

Cash Line

  • Open-ended repayment terms (similar to a credit card)
  • Immediate access to working capital (good for emergencies & daily costs)
  • Easy “top up” feature (paying your balances helps you access more cash)
  • The option of paying off your balance penalty-free

Merchant Cash Advance

  • Flexible payment terms of 6 – 12 months
  • Payment percentages fluctuate according to your daily sales
  • Financing is based on your monthly debit/credit card sales
  • No fixed payments (variable micropayments debited from your account)

What Costs Could My Business Encounter With Company Capital?

Clearly, there are many benefits you’ll see if you apply for business financing from Company Capital. That said, it’s always important to consider the different costs you could run into along the way and factor them into your budget, such as:

  • Interest – As mentioned, all Company Capital products have interest rates that can fluctuate according to your average sales and financial health. If your business isn’t performing well, your rate could go up and cost you a lot over time.
  • Payments – Although your payments are adjustable, keep in mind that they will be automatically debited from your business bank account. If your account has insufficient funds, you may receive a penalty and experience bad debt problems.
  • Fees – Unfortunately, the Company Capital website does not display their fees. However, some fees you might encounter with business financing include loan origination, administration, and possible defaulting penalties (missing payments).

What Are The Benefits and Drawbacks of Company Capital?

It’s always essential to weigh the pros and cons of your lender so you end up with the financing product, payment term, and interest rate that best suits the financial needs of your business. Here are the main benefits and drawbacks of Company Capital:

Benefits

  • Fast approval times of 1 – 2 business days
  • Flexible payment plans and interest rates
  • A+ rating from the Better Business Bureau
  • Services are offered Canada-wide
  • 90% approval rate and easy requirements

Drawbacks

  • Fees are not specified on their website
  • Interest rates can be high if your business doesn’t have good finances
  • Defaulting can result in penalties, damaged business credit, and debt problems
  • Businesses with monthly revenues lower than $5,000 – $10,000 will not qualify

Company Capital - Frequently Asked Questions

What types of businesses can qualify for financing?

Fortunately, all kinds of businesses can be eligible for financing from Company Capital, as long as they meet the minimum requirements, of course. Qualifying also depends on what kind of financing your business needs. For example, your enterprise can only receive a Merchant Cash Advance if it accepts debit and/or credit card transactions, as most retailers, restaurants, and stores do these days.

What expenses can a term loan cover?

As mentioned, term loans from Company Capital are deposited as lump sums of cash directly into your business bank account, shortly after your application is approved. You can then use whatever funds you receive for almost any business-related expense that comes your way, such as:
  • Consolidating unpaid debts
  • Making repairs, additions, or renovations
  • Purchasing or leasing real estate properties
  • Stocking up on new inventory
  • Paying property taxes, permits, and utility bills

Services & Products

Company Capital Offered Services

Business Loan

Loan Range
$5,000 – $100,000
Interest Rate
Starting at 6.87%
Terms (Months)
3 – 18
Funding Time
1 day or more
Funding Method
Direct deposit
Repayment Options
Fixed daily or weekly amount that is automatically debited from your account.
Eligibility
  • Open for at least 6 months
  • Sales of at least $10,000 per month
Requirements & Documents
  • 6 months of bank statements
  • Photo ID
  • Void cheque

Line of Credit

Loan Range
$10,000 – $100,000
Interest Rate
-
Terms (Months)
-
Funding Time
1 day or more
Funding Method
Direct deposit
Repayment Options
Automatic debit
Eligibility
  • Open for at least 6 months
  • Sales of at least $10,000 per month
Requirements & Documents
  • 6 months of bank statements
  • Photo ID
  • Void cheque

Merchant Cash Advance

Loan Range
$5,000 – $100,000
Interest Rate
-
Terms (Months)
-
Funding Time
1 day or more
Funding Method
Direct deposit
Repayment Options
Automatic debit
Eligibility
  • Accept credit and debit cards
  • Open for at least 6 months
  • Process at least $5,000 per month
Requirements & Documents
  • 6 months of business bank statements
  • Photo ID
  • Void cheque
  • 6 months of merchant processor statements

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