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OUR SERVICES

WHAT WE DO BEST

We assist businesses to navigate and effectively evaluate potential financial services, covering multiple industries with the best referral partnerships. We provide a personal approach to provide our clients with a tailored solution to fit their individual needs.

Canada-Wide Business Finacing provides a customized approach working with a business consultant to determine the best options for each client. Both small and large business owners have the ability to access the best services and products on the market. Our referral partners offer services that accommodate both prime & subprime solutions at extremely competitive rates.

Unsecured Financing
Secured Equity Financing
Equipment Financing Program
Line of Credit
CEBA Loan Refinancing

Unsecured Financing

Good for the following merchants:

  • Young companies (6 months or more in business)
  • Challenging credit
  • Looking for bridge solution.

Unsecured loan

BENEFITS:

  • Credit facility provided is unsecured therefore no collateral is required against financing.
  • Initial capital injection up to 100% of monthly gross sales
  • Renewal after every 35% repayment keeping the payments the same but the term is extended.
  • Cost of borrowing is 100% write off on your taxes.
  • Terms range from 4-18 months (terms are extended after every renewal)
  • Open loan term and can be paid back at any point in time.

Minimum requirements:

  • Minimum $10K monthly gross revenue
  • At least 6 months in operation
  • Minimum shareholders credit rating of 550

Can fund up to the equivalent of most recent average
monthly gross revenue.

 

  • All documents to be completed electronically.
  • 6 months of most recent official business bank statements,
    as well as the activity statement for the current month.
  • Loans of $100K+ require most recent financial statements.

Secured Equity Financing

NO LEGAL FEES
NO APPRAISAL*
NO PENALTIES (OPEN TERM)
ALL CREDIT TYPES
ALL INCOME TYPES
LOW PAYMENTS WITH 20 YEAR AMORT.
12 MONTH TERMS (RENEWABLE)
SIMPLE APPLICATION, FAST APPROVAL

*Pricing and need for an appraisal is case specific
*All homeowners must be on the application
*Lending up to 70% LTV

Equipment Financing Program

Details on our asset-based financing program.

 

Equipment Financing:  $25K – $10M

 

Details:

  • Purchase of new or used equipment.
  • Refinance and leaseback.
  • Rates start at 9.99%.
  • Fees vary on a case-by-case basis.

 

Minimum requirements:

 

  • Minimum $10K monthly gross revenue.
  • At least 12 months in operation.
  • Minimum shareholders credit rating of 625.

Application process:

  • Purchase or leaseback – equipment spreadsheet –
    all items both free & clear and encumbered.
  • Last 6 months of bank statements in PDF format.
  • $200K+ – provide most recent financial statement.

Documents:

    • Shareholder credit score over 650.
    • Shareholder credit score between 550-650.
    • Purchase – how will the equipment help increase revenue?
    • Leaseback – what will the funds be used for?
    • Details on daily activities of merchant, including website address if applicable.

 

Line of Credit Options

We have 3 tiers to the LOC program.

All rates are +/- 4%, depending on risk.

LOC Tier 1: 35% of annual gross revenue up to $250,000 as recorded on the financial statement.

Example: Annual gross revenue $500,000 = potential LOC limit of $175,000!

Eligibility criteria:
• In operation more than 3 years
• Personal credit score of all shareholders over 625
• No more than 1 NSF per month over the last 6 months
• Minimum annual gross revenue $150,000
• Rates approx. Prime + 15%
• Senior facility

LOC Tier 2 – $50,000 – $250,000

• Based on receivables and/or inventory.
• No monthly borrowing base.
• 12 months – auto renews.
• In business 12 months.
• Credit score over 625
• Rates approx. Prime + 15%
• Senior facility.

Collateral eligible for credit limit:

• Up to 75% of receivables.
• Up to 75% of equipment (big ticket items-ideally with serial numbers and/or motorized).
• Up to 50% of inventory (note, this is the weakest collateral, finished goods only with resale value).
• Up to 50% of real estate equity (1st position if other assets are weak).

LOC Tier 3 – $250,000 – $3,000,000

• Necessary collateral must be 2 or more of the following: receivables, inventory, equipment, real estate.
• 12 months – auto renews.
• In business 3 years.
• Credit score over 625.
• Rates approx. Prime + 10%.
• Senior facility.

Collateral eligible for credit limit:

• Up to 75% of receivables.
• Up to 75% of equipment (big ticket items-ideally with serial numbers and/or motorized).
• Up to 50% of inventory (note, this is the weakest collateral, finished goods only with resale value).
• Up to 50% of real estate equity (1st position if other assets are weak).

Ideal industries for Tiers 2 & 3:

• Transport and logistics
• Distribution
• Manufacturing
• Construction
• Oil and gas industry

Additional eligibility information:

Cannabis or non-profits are not eligible for any of the programs.

Requirements for Revolving Line of Credit

We will need the following:

  • Contact information for all shareholders – full name, email, phone number.
  • Legal name and trade name of business
  • Time in business
  • Accountant-prepared financial statement for 2022
  • Aged accounts receivable report