Small Business Loans Ontario

A Canadian small business loan option for entrepreneurs in Ontario

If you’re looking to grow your business, a small business loan can help you overcome cash flow gaps and take your business to the next level. Whether you run a retail store, a restaurant, an auto shop, or a beauty salon, injecting your business with cash can help you expand your business. A small business loan can help you make renovations, invest in new equipment, stock up on inventory, and more.

Although every small business loan has specific terms and interest rates, each financial institution or lender has different eligibility criteria for qualifying you for a loan. Thinking Capital has its own criteria and doesn't rely solely on your credit score. Your ongoing business cash flow and daily transactions also play a large role in getting your business approved for a business loan. If you have been rejected by other lenders or banks but still want to help your business grow, you have options with Thinking Capital.


Don't live in Ontario? Don't worry! We also help small business owners in Quebec, Alberta, B.C., and other parts of the country. Whether you're from Toronto, Montreal, Halifax, or any other city both big and small in Canada, you could still qualify for a small business loan. 

How Do I Qualify for a Small Business Loan in Ontario?

Applying for a small business loan can be an easy process, but you want to make sure you have the proper information prepared and organized. This will improve your chances of getting qualified and approved for a business loan. Any lender will want to get a clear picture of your company, what your future plans are, and how you plan to make repayments. The following information is helpful to have when applying for a small business loan:


A Detailed Business Plan

Your business plan should cover your company’s objectives, demonstrate its sustainability, and give details on how the borrowed funds will be allocated. Purchasing land, organizing leasehold improvements, or buying new equipment are examples of how small business loans can improve your business plan.


Cash Flow Projections

Financial statements showing cash flow will give lenders an idea of the financial condition of your business. By measuring your cash expenditures against your income, lenders gain an understanding of how much cash you have available to service debt and make repayments.


Professional Resume

Some lenders may require the principal owners of the company to provide professional resumes. By demonstrating past business endeavours or past relationships with lenders, lenders can determine the reputation of a company. If you have a relatively new business, references will help support your worthiness.

Can I Get a Small Business Loan in Ontario Without Collateral?

Traditional lenders may want to use your capital business assets as collateral, but other lenders such as Thinking Capital do not require this. Since specific collateral is not a requirement for Thinking Capital, healthy businesses that might not have adequate collateral can still qualify for borrowed capital with a personal guarantee.

How Do I Get a Small Business Loan with Thinking Capital?

Applying for a small business loan from Thinking Capital is as easy as 1 2 3. Our simple 3-step involves you applying online, getting qualified by one of our expert advisors, and upon approval, receiving your funds directly in your business bank account.

We offer no-obligation quotes, and if you are qualified and approved, you could receive your business loan in as little as 24 hours. Here are more details about our 3-step process:


Step 1: Tell Us About Your Business

To begin, fill out our online application, which only takes five to 10 minutes to complete. Enter some basic information about you and your business, including your monthly revenue and how long your business has been operating. This information allows our expert advisors to evaluate your business and will help you get qualified and approved for a loan.


Step 2: Get Qualified and Approved 

After you complete our online application, one of our expert advisors will contact you to gather more details about your business. They will ask you some additional questions and collect the information they need to help you get qualified and approved for a loan.

All financial institutions and lenders have different qualification criteria. Thinking Capital has its own set of criteria that doesn’t only focus on your credit score. Your ongoing business cash flow and daily transactions also play a role in getting your loan approved. 

Financial statements that show your business cash flow and your daily business transactions will help demonstrate your business’s financial health. By analyzing these statements, our expert advisors can gain an understanding of how much cash you have available to make repayments on a business loan.


Step 3: Receive your Funding

Once you’ve been qualified and approved for a small business loan, you can expect to receive your funding in as little as 24 hours. Your loan will be deposited directly into your business bank account. You can use the funds right away to make the purchases, investments, or fixes you need to grow your business. Renovations, inventory purchases, equipment investments, and marketing are some common areas business owners like you use their funding for.


Thinking Capital Small Business Loans in Ontario

Now that you know what you need to get a small business loan, apply for one now from Thinking Capital. Apply online, get qualified and approved, and receive your funds to make impactful changes to your business. 

Our expert advisors have decades of knowledge in over 300 industries. From improving your cash flow to optimizing your inventory, our advisors know the most effective ways you can use a small business loan to grow your business.