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Thinking Capital is a Fintech company that’s been operating for over 10 years. Their goal is to transform the way small and medium-sized Canadian businesses borrow the funds they need. They offer both fixed and flexible repayment plans and work with a wide variety of industries across the country. So, if you’re looking to grow your business with a loan or merchant cash advance, Thinking Capital could be the right option for you.
There are a few requirements you’ll need to meet in order to qualify for a small business loan or merchant cash advance from Thinking Capital, including but not limited to:
Luckily, Thinking Capital is less focused on a business owner’s credit score. Instead, your approval odds, financing amount, and interest rate will hinge more on your enterprise’s current and future cash flow. As long as your business passes the criteria above, you may receive your funding from Thinking Capital in as little as 48-hours (depending on how much you apply to borrow).
Remember, Thinking Capital is a business lender. As such, there may be a few essential documents to present when you apply, including but not limited to:
Thinking Capital has its own web portal, so you’re able to apply 100% online from anywhere in Canada. The process only takes about 10 minutes. All you have to do is fill out an application and finish it off with your electronic signature.
Otherwise, you can call their customer service number for more information about their borrowing process. Before you get started, however, keep in mind that if you’re applying for a large amount of financing, you may be required to provide additional documentation.
Not sure if Thinking Capital is the right source of business financing for you? Then let’s take a look at some of the more positive features of their lending company. For instance, Thinking Capital maybe your best option because they:
Although there are numerous advantages to acquiring your small business loan or merchant cash advance through Thinking Capital, it’s always important to consider the possible costs you may encounter during your repayment plan, such as:
Before you apply for financing, it’s also essential to understand that both small business loans and merchant cash advance payments, plus any related fees, will be automatically withdrawn from your business bank account. So, if your account has insufficient funds when your payment comes due, you may be charged a penalty for defaulting, which could also have a negative impact on your credit.
Thinking Capital - Frequently Asked Questions
How are a Small business loan and a merchant cash advance different?
How can I get approved for good business financing conditions?
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
---|---|---|---|---|---|
Business Loan | - |
|
| A minimum of 3 months worth of bank account data Government-issued photo ID Void cheque | Must be a Canadian-based business Have an average monthly card sales of at least $7,000 Operating for a minimum of 6 months |
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The federal and provincial governments encourage citizens to be mindful about how much energy they use and offer tax credits on sustainable energy use...
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