What is the interest rate for the business term loan for IT equipment financing?
The interest rates for fixed repayment business loans range from 8% to 29% depending on the financial situation of your business and its owner.
What type of IT equipment can you finance?
We can finance various types of computer equipment such as desktop and laptop computers, servers, screens, printers, software and data storage hardware.
What are the eligibility criteria?
To be eligible for computer equipment financing for your business with us and our partners, you must meet the following criteria: a personal credit score of at least 550, a business credit score of at least 1300, be a Canadian business, have been in operation in Canada for at least 6 months, and not be in active bankruptcy.
What industries are not accepted?
While we offer business loans to over 700 industries, we and our partners cannot provide financing for certain industries considered high risk: firearms suppliers, government agencies, horoscope/divination, adult entertainment, public administration, non-profit organizations, religious organizations, money service businesses and all lottery/casino/gambling related activities.
How does it work?
The application process for a business loan is simple. Click on the “Start” button and answer some quick questions for pre-approval. If you are qualified, one of our representatives will reach out to you to finalize the process with some additional questions.
Example of repayment for a fixed term loan
In the example of a $25,000 loan at a 14% interest rate repayable over 12 months, the monthly payments will be $2,131.29 for a total amount of $25,575.48. The interest on the loan will be $575.48.
You can use the following loan calculator offered by calculator.net to reproduce and view other business loan repayment examples.
Our 100% Canadian company was created to provide reliable, flexible, and fast financing solutions to Canadian small and medium-sized businesses.
99.2% satisfaction rate
We finance small and medium-sized businesses in over 700 different industries.
What type of equipment can you finance?
and more than 700 other industries…
Nous aidons les PME québécoises dans divers secteurs grâce à un taux de satisfaction élevé. Avec MicroCapital, vous bénéficiez d’accès à des financements adaptés à votre activité d’entreprise, que ce soit pour une usine, un service pro ou autre type d’entreprise.
Qu’attendez-vous? Cliquez sur le bouton ci-dessous pour commencer.