FAQ
We realize that you probably have numerous questions for us about the business loans and cash advances processes with Business Credit & Capital. We encourage you to read through our most frequently asked questions below to become acquainted with all Business Credit & Capital can offer you. Our team looks forward to working with you and answering any additional questions you may have; call us at (866)222-9922.
Common Business Loan Questions
easy Answers to common questions
What is a Working Capital Advance and how can it help my business?
A Working Capital Advance is not a traditional loan. It’s an advance based on your business’s future revenue. You receive a lump sum of cash in exchange for a portion of your upcoming credit card sales or daily/weekly ACH withdrawals. This infusion of working capital helps small businesses that may not qualify for a bank loan due to insufficient credit or lack of collateral.
How is a Working Capital Advance different from a traditional loan?
- No collateral required. With a Working Capital Advance, you don’t need to put up assets or personal property.
- Easier qualification. Minimal documentation and fewer requirements than bank loans.
- Funding Time. Get funded in as little as 24 hours.
How quickly can I get funded?
Pre-approval ordinarily happens the same business day you apply. Once approved, funding can occur in as little as 1-2 business days depending on the amount of the transaction. Typically, most businesses receive funds in under 72 hours.
What do I need to qualify?
To keep the application process smooth and simple, you generally need:
- A one-page signed application
- Four recent months of business bank statements
- Proof of ownership
- Driver’s license or photo ID (for all applicants)
- A business voided check
What are the typical funding amounts?
- Average Working Capital Advance size: $25,000
- Range: $5,000 up to $150,000
What if I already have another Working Capital Advance?
You are free to use the cash any way you see fit for your business, such as:
- Expansion or remodeling
- Purchasing new equipment or inventory
- Marketing and advertising
- Consolidating debt
- Covering unforeseen emergencies
- Buying out a partner or opening a new location
Is there an interest rate on a Working Capital Advance?
A Working Capital Advance is not a loan, so there isn’t a traditional interest rate. You receive an upfront sum in exchange for a fixed amount of your future sales. No matter how long it takes to repay, the total retrieval amount does not change.
Can I get additional capital in the future?
Yes. After repaying 50% of your Working Capital Advance, you become eligible to apply for additional capital.
What types of programs do you offer?
- Term Loan
- Working Capital Loan
- Line of Credit
What areas do you serve?
We provide Working Capital Advance throughout Canada!
How do I get started?
Call us at 1 (866) 222-9922 to speak with a representative who will answer your questions and guide you through the application process. You can also request more information or get a same-day pre-approval by completing a short application.