The interest rates for the fixed repayment business loans we offer range from 8% to 29% depending on the financial situation of your business and its owner. The better your business’s financial situation, the better the interest rate (and vice versa).
What are the eligibility criteria?
To be eligible for business financing of any type (fixed term loan, flexible funds, etc.) with us and our partners, you must meet the following criteria: – Have a personal credit score of at least 550 – Have a business credit score of at least 1300 – Be a Canadian company – Have annual sales of at least $100,000 – Have been operating in Canada for at least 6 months – Not be in active bankruptcy.
Which industries are not accepted?
While we offer loans to over 700 industries, we and our partners cannot provide financing for certain industries that are considered risky: adult entertainment, government agencies, horoscope/divination, public administration, nonprofits, firearms suppliers, religious organizations, money service businesses, and all lottery/casino/betting related activities.
How does it work?
It’s really easy! Just click on one of the big blue “Get Started” buttons on this page to be redirected to the pre-qualification quiz. If you meet our minimum requirements, you will then be asked to leave your information so that one of our agents can contact you as soon as possible.
Do you accept bad credits?
Yes and no, the lowest personal credit score we are willing to accept is 550.
Example of a fixed term loan repayment
In the example of a term loan of $150,000 at an interest rate of 14% repayable over 24 months. The monthly repayment payments will be $7,201.93 for a total amount of $172,846.38. The interest on the loan will be $22,846.38.
You can use the following loan calculator provided by calculator.net to reproduce and see other examples of business loan repayment.
Our 100% Quebec-based company was created to offer Quebec SMEs a reliable, flexible and fast financing solution.
Satisfaction rate: 99.2%.
We finance SMEs in over 700 different industries
Which industries are accepted?
and more than 700 others…
MicroCapital offers you access to financing solutions adapted to the activity of your small or medium-sized Quebec business, whether it is the management of a factory, a restaurant, a retail business or any other type of business.
With a satisfaction rate close to 100%, we assist Quebec SMEs in more than 700 different sectors to help them find the financing they need, especially in times of financial difficulty.
What are you waiting for? Solve your financial problems with our financing solutions. Click on the button below to get started.