Question 1

What is a merchant cash advance (MCA)?

Accepted Answer

A merchant cash advance is a lump sum of capital provided to your business in exchange for a percentage of future credit card or debit card sales. It is not a traditional loan — repayment adjusts automatically based on your daily sales volume, so you pay less when business is slower.

Question 2

How quickly can I get approved and funded?

Accepted Answer

Most applications are reviewed and approved within 2–4 business hours. Once approved, funds are deposited directly into your business bank account within 1 business day.

Question 3

What credit score do I need to qualify?

Accepted Answer

CanLend Capital accepts FICO scores as low as 400. Unlike traditional banks, we evaluate your business based on monthly revenue, time in business, and overall business health — not just a credit number.

Question 4

How much funding can my business receive?

Accepted Answer

We provide funding from $5,000 up to $500,000, depending on your monthly revenue and business profile. Many businesses qualify for more than they expect.

Question 5

What are the basic qualification requirements?

Accepted Answer

To qualify, your business needs: minimum $10,000 in monthly revenue, at least 5 months in operation, and at least 51% ownership by the applicant.

Question 6

Is collateral required?

Accepted Answer

No collateral is required for a merchant cash advance. For other products like collateral loans, commercial real estate may be used as security. MCA is fully unsecured.

Question 7

Are there any hidden fees?

Accepted Answer

Absolutely not. CanLend Capital is committed to full transparency. All fees, rates, and terms are disclosed upfront before you agree to anything. There are no hidden charges.

Question 8

Can I pay off my advance early?

Accepted Answer

Yes! We offer early payoff discounts. If you repay your advance ahead of schedule, you can save on the total cost of funding.

Question 9

What industries do you fund?

Accepted Answer

We fund businesses across all industries, including restaurants, retail, construction, legal, dental, medical, trucking, auto repair, salons, e-commerce, and many more.

Question 10

Do you serve all Canadian provinces?

Accepted Answer

Yes. CanLend Capital serves businesses in all Canadian provinces and territories, from British Columbia to Newfoundland and Labrador, including the Northern territories.

Question 11

How does repayment work for an MCA?

Accepted Answer

Repayment is automatic — a small, fixed percentage of your daily or weekly credit card sales is deducted. When sales are higher, you pay a bit more; when sales dip, you pay less. There are no fixed monthly payments.

Question 12

What documents do I need to apply?

Accepted Answer

Our application is simple. You will need basic business information including your business name, monthly revenue, time in business, and contact details. No lengthy paperwork or complex financial statements required.

Question 13

Will applying affect my credit score?

Accepted Answer

Our initial application review uses a soft credit inquiry which does not affect your credit score. A hard inquiry is only conducted if you decide to proceed with an offer.

Question 14

How is an MCA different from a loan?

Accepted Answer

An MCA is technically a purchase of future receivables, not a loan. This means it's not subject to the same regulations as traditional loans. Key differences include flexible repayment tied to revenue, no fixed monthly payments, and faster approval with lower credit requirements.

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