Fast Funding for Your Business
Get the capital you need quickly and efficiently. We offer tailored funding solutions to help Canadian small businesses thrive. Apply today and experience the 24HourFunding difference.
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Some of The Many Products We Offer
Merchant Cash Advance
Term Loans
Lines of Credit
Equipment Financing
Check If You Qualify
Canadian Citizen or Permanent Resident
Business in operation for at least 6 months
Minimum monthly revenue of $25K
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Fast, Flexible Capital with a Merchant Cash Advance
In today's fast-paced business environment, opportunities and challenges can arise in an instant. Traditional bank loans, with their lengthy application processes and strict credit requirements, aren't always agile enough to meet the immediate needs of a growing business. A Merchant Cash Advance (MCA) offers a powerful and flexible alternative, designed to provide you with the working capital you need in as little as 24 hours.
What is a Merchant Cash Advance?
A Merchant Cash Advance isn't a loan in the traditional sense. Instead of borrowing money, you are selling a small portion of your future sales at a discount. A funding provider purchases your future credit and debit card receivables and, in return, provides you with a lump-sum of cash upfront. This innovative model is ideal for businesses that have strong, consistent sales but may not qualify for a conventional loan due to credit history, lack of collateral, or simply the need for immediate funding.
How Does Repayment Work?
The repayment process is one of the most significant advantages of an MCA. It’s designed to work with your business's cash flow, not against it.Instead of a fixed monthly payment that can be a burden during slow periods, you repay the advance with a small, agreed-upon percentage of your daily credit and debit card sales.
On busy days, you pay back more.
On slow days, you pay back less.
This automatic, flexible repayment structure means there are no hefty bills to remember and no risk of missing a payment that could damage your credit. The process is seamless, allowing you to focus on running your business.
Who is a Merchant Cash Advance For?
An MCA is a perfect fit for a wide range of Canadian businesses, especially those in the retail, restaurant, and service industries that see a high volume of card transactions. It's an ideal solution if you are:
A business owner needing immediate capital to seize an opportunity, like purchasing bulk inventory at a discount.
Facing an unexpected expense, such as an essential equipment repair.
Looking to bridge a temporary cash flow gap or manage seasonal fluctuations.
A business with a limited credit history that struggles to get approved by traditional banks.
In need of funding without pledging personal or business assets as collateral.
The Key Benefits of an MCA from 24HourFunding
Speed: From a simple application to funds in your account, the process can take as little as 24 hours.
High Approval Rates: Approval is based primarily on your business's sales history and cash flow, not just your credit score.
Flexible Repayments: Payments adjust automatically with your daily sales volume, protecting your cash flow.
No Collateral Required: Your future sales are the asset, so you don't need to pledge property or equipment.
Unrestricted Use of Funds: Use the capital for whatever your business needs most—from marketing campaigns to renovations to managing payroll.
Is a Merchant Cash Advance Right for Your Business?
A Merchant Cash Advance is a premium financial product designed for speed and convenience. It's a powerful tool for businesses that need capital now and can leverage it for immediate growth or stability. At 24HourFunding, our specialists can walk you through the details and help you determine if an MCA is the right strategic fit for your goals.
Secure Your Financial Safety Net with a Business Line of Credit
In business, flexibility is everything. Unexpected expenses, sudden growth opportunities, and fluctuating cash flow are all part of the journey. A Business Line of Credit is one of the most powerful and flexible financial tools available to Canadian SMEs, providing an ongoing, revolving source of capital that you can access whenever you need it. Unlike a traditional loan, it’s not about a one-time lump sum; it’s about securing a permanent financial safety net for your business.
What is a Business Line of Credit?
A Business Line of Credit functions much like a high-limit business credit card, but with more favourable terms and for larger funding needs. A lender approves you for a specific credit limit (e.g., $100,000), and you can draw funds from that pool as needed, up to your limit. The key advantage is that you only pay interest on the amount you’ve actually used, not the entire credit limit.This makes it an incredibly efficient way to manage your finances, ensuring you have the power to act when an opportunity arises without taking on unnecessary interest costs.
How Does It Work? The Power of Revolving Credit
The revolving nature of a line of credit is what makes it so flexible. Here’s a simple breakdown:
Get Approved: You are approved for a maximum credit limit.
Draw Funds: You can withdraw any amount you need, at any time, up to your approved limit.
Pay Interest Only on What You Use: If you have a $100,000 limit but only draw $20,000, you only pay interest on that $20,000.
Replenish Your Credit: As you repay the principal on the amount you've used, your available credit goes back up. That money becomes available for you to use again, without needing to re-apply.
This continuous access to funds provides peace of mind and the agility to navigate any business scenario.
Who is a Business Line of Credit For?
This financial tool is a perfect fit for established Canadian businesses looking for a flexible way to manage their finances. It is particularly valuable for:
Managing Cash Flow: Cover payroll and operating expenses during seasonal lulls or while waiting for client invoices to be paid.
Seizing Opportunities: Quickly purchase inventory, launch a marketing campaign, or take on a new, larger project without draining your bank account.
Covering Unexpected Expenses: Be prepared for emergency equipment repairs or other unforeseen costs without derailing your budget.
Businesses Seeking Control: For owners who want access to capital but only want to pay for what they truly need, when they need it.
General Qualification Criteria
While every lender has slightly different requirements, businesses applying for a line of credit are typically evaluated on:
Time in Business: A minimum of 6-12 months of operation.
Consistent Revenue: Lenders often look for an average of at least $25,000 in monthly revenue or $300,000 annually.
Credit Score: A fair to good personal and business credit score is generally required.
Financial Health: Lenders will assess your business's stability through documents like bank statements and tax returns.
At 24HourFunding, our role is to match you with the right lender for your specific profile, increasing your chances of approval for the best possible terms. Interest rates can vary significantly, so letting us compare the market for you is a key advantage.
Acquire the Tools You Need to Grow with Equipment Financing
For any growing business, having the right equipment is not just an advantage—it's a necessity. Whether it's a new commercial vehicle, essential machinery, or upgraded technology, the right tools drive efficiency and growth. Equipment financing is a powerful and accessible funding solution designed to help you acquire these critical assets without draining your working capital, allowing you to invest in your business' future today.
What is Equipment Financing?
Equipment financing is a specialized type of loan that allows you to purchase business equipment, with the equipment itself acting as its own collateral. This is a significant advantage for many businesses. Because the loan is secured by the asset you are purchasing, it can be easier to qualify for than other types of business loans. Once the loan is fully repaid, your business owns the equipment free and clear.This type of financing is ideal for acquiring long-term assets that are essential to your daily operations and revenue generation.
How Does Equipment Financing Differ from Leasing?
It’s important to understand the distinction between financing and leasing, as each serves a different strategic purpose.
Financing: With equipment financing, you are taking out a loan to buy the equipment. You build equity with each payment, and at the end of the term, you own a valuable business asset. This is preferable for long-lasting equipment like commercial trucks, construction machinery, or permanent fixtures.
Leasing: With equipment leasing, you are essentially renting the equipment for a set period. Payments are often lower, but you do not build ownership. This can be a great option for technology that quickly becomes obsolete, like computers or specialized software.
Our specialists can help you determine which path—buying or leasing—makes the most financial sense for your specific situation.
Who is Equipment Financing For?
Equipment financing is a vital tool for Canadian SMEs across nearly every industry, including construction, transportation, manufacturing, hospitality, and healthcare. It is the perfect solution for businesses that need to:
Purchase essential new or used equipment without a massive upfront cash payment.
Upgrade outdated machinery to improve productivity and stay competitive.
Expand their operational capacity with additional vehicles or technology.
Preserve their cash flow for other important needs like payroll, inventory, and marketing.
Leverage an asset-backed loan, which can be easier to secure even with a less-established credit history.
Key Benefits of Equipment Financing
Preserves Working Capital: Acquire assets worth thousands of dollars with manageable payments, keeping your cash free for day-to-day operations.
Easier Qualification: The equipment itself secures the loan, often leading to higher approval rates than unsecured loans.
Potential for 100% Financing: Many lenders offer solutions that cover the full cost of the equipment, requiring little to no down payment.
Tax Advantages: As the owner of the equipment, your business can often claim depreciation and the interest paid on the loan as tax-deductible expenses (consult with your accountant for details).
Builds Equity: Each payment brings you closer to owning a valuable asset that contributes to your company's net worth.
With loan amounts up to $500K and flexible repayment terms typically ranging from one to five years, our network of lenders can provide the right financing structure for your needs.
Fuel Your Next Big Project with a Business Term Loan
For major business investments—whether it's expanding your operations, purchasing significant assets, or launching a new product line—a predictable and structured funding solution is essential. A Business Term Loan is the gold standard for financing these pivotal moments. It provides a lump sum of capital upfront with a clear, fixed repayment schedule, giving you the financial confidence and stability you need to execute your long-term growth plans.
What is a Business Term Loan
A business term loan is a straightforward and powerful financial tool. A lender provides you with a specific amount of money in a single disbursement, which you then repay over a predetermined period (the "term"). Repayments are typically made in regular monthly installments that include both principal and interest, so you always know exactly how much you owe and when.This predictability makes term loans ideal for specific, planned expenditures where the total cost is known upfront. Terms can range from short-term (under a year) to long-term (up to 10 years or more), depending on the size of the loan and its purpose.
Who is a Business Term Loan For?
A term loan is an excellent choice for established Canadian SMEs with a clear vision for growth and a proven track record. It is the perfect funding solution when your business needs to:
Finance a Major Expansion: Open a new location, enter a new market, or renovate your existing premises.
Purchase Significant Assets: Acquire commercial real estate, heavy machinery, or other high-value equipment.
Increase Working Capital: Secure a substantial amount of capital to bolster your day-to-day finances for a new growth phase.
Refinance Existing Debt: Consolidate other, higher-interest debts into a single, manageable monthly payment.
General Qualification Criteria
Lenders look for stability and a clear ability to repay when assessing a term loan application. As your brokerage partner, 24HourFunding helps position your business to meet these key criteria:
Time in Business: Lenders typically prefer businesses with at least one to two years of operational history.
Consistent Revenue: Demonstrating a strong and stable revenue stream is crucial for approval.
Creditworthiness: A good personal and business credit score will help you secure the most favourable rates and terms.
Strong Financials: A solid business plan and organized financial statements (like tax returns and bank statements) will significantly improve your chances of approval.
Navigating the market is key, as interest rates and terms can vary widely. Traditional banks may offer lower rates, while our network of alternative lenders often provides faster funding and more flexible qualification criteria. Our job is to find the perfect balance for your business's needs.
The Key Benefits of a Business Term Loan
Predictability & Control: Fixed monthly payments make it easy to budget and manage your cash flow over the long term.
Lower Interest Rates: For businesses with strong credit, term loans often offer some of the most competitive interest rates available.
Large Funding Amounts: Term loans are designed for significant investments, allowing you to finance major projects.
Builds Business Credit: Making consistent, on-time payments can help strengthen your business's credit profile for the future.
With loan amounts up to $500K and flexible repayment terms typically ranging from one to ten years, our network of lenders can provide the right financing structure for your needs.