Evolocity Reviews and Ratings

Evolocity

Since 2008, Evolocity has been helping Canadian business owners get the business financing they need. Through their flexible options and services, online application process and technology-driven solutions Evolocity empowers Canadians to grow and expand their businesses.

Evolocity is an ideal option for those Canadian business owners who have been rejected by more traditional lending institutions.

 

Business Hours
Monday-Friday: 9am to 6pm (EST)

Support Offered
Web Chat Help Center/Blog Email Support

Services Offered

Conditions & Rates


  • Interest rate:
    Starting at 6.99%
  • Amount:
    $10,000 – $300,000
  • Term:
    4 – 18 months

Eligibility & Documents


  • Who is eligible:
    You have a Canadian-based business
    You have an active commercial lease – not a home-based or online business
    You have an average monthly sales of $15,000
    You have been in business for at least 12 months
  • What you need to provide:
    Business start date and general business information (such as legal business name and address)
    If you lease your space, lease expiry date
    Online business bank account login information or most recent business bank statements in PDF format (previous 3 months)
    Information on the business owner(s) (such as name, home address and birthdate)

Repayment & Issuance


  • How fast can you get the money
    2 days or more
  • Funding method
    Direct deposit
  • How does repayment work
    Evolocity will debit your business bank account daily for a small agreed-upon fixed amount , allowing you to budget for the repayment of your loan in smaller increments. Our online merchant reporting system allows you to track the balance of your loan from anywhere and at any time.

Conditions & Rates


  • Interest rate:
    Fixed Fee
  • Amount:
    $10,000 – $300,000
  • Term:
    Flexible

Eligibility & Documents


  • Who is eligible:
    You have a Canadian-based business
    You have an active commercial lease – not a home-based or online business
    You accept debit and credit cards
    You have average monthly sales of $15,000
    You have been in business for at least 6 months
  • What you need to provide:
    Business start date and general business information (such as legal business name and address)
    If you lease your space, lease expiry date
    Online business bank account login information or your most recent business bank statements in PDF format (previous 3 months)
    Information about the business owner(s) (such as name, home address and birthdate)

Repayment & Issuance


  • How fast can you get the money
    2 days or more
  • Funding method
    Direct deposit
  • How does repayment work
    Evolocity will debit your business bank account daily for a small agreed-upon percentage of credit/debit card receivables. Because the amount varies depending on your sales, we only get paid when you do. Our online merchant reporting system allows you to track the balance of your advance and view your transaction details.

Reviews & Ratings


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Note:

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 deposit, upfront fees or upfront insurance payments on a loan. To protect yourself, read more on this topic by visiting our page on loan scams.