A small business loan can be a great tool to help build your business but can be detrimental if you are having a slower month. With a small business loan, regardless of your sales for the term, you are still required to make the payments.
Additionally, you can be stuck paying interest for years as it will continuously compound on the principal amount. This is beside the fact that over 50% of Canadian businesses simply cannot get approved by traditional lenders.
2M7 Financing: Merchant Cash Advance
Higher than 97% approval rate
Does not register on your credit file (both personal and commercial)
Takes 4-6 hours for approval
Does not require any type of credit
You must be in business for 90 days
NO fees or interest charges (other than a one-time Cost of Capital)
Flexible payments (to work with your business and not hurt your cash flow)
Small Business Loans
Less than 50% approval rate
Registers to your credit score
Takes 4-6 weeks for approval
Requires good credit
Must be in business for at least 2 years
Fees + accruing interest
Fixed payments regardless of business performance
Speak to a specialist today!
Speak to one of our trained specialists to better understand what options we have for your business.
2M7 is an all Canadian alternative funding provider we have developed a proprietary system to evaluate risk and determine credit worthiness very differently than a traditional funding source.