Almost all business owners are familiar with Canadian small business loans, but they often remain concerned when it comes to getting these products online. It is quite normal to ask yourself questions before concluding a financial agreement, especially when this agreement involves your livelihood. In this article, we will review some of the questions that are often asked of sendan by small business owners. Remember, not all online lenders are the same and the information we give here reflects only sendan products.
How much can I borrow?
Since commercial loan is a flexible product you can borrow any amount between $ 5,000 and $ 200,000.
How long is the loan?
Because of the flexibility, again, the loan can be as short as 4 months and as long as 18 months.
Can I use the money for anything?
We can answer in one word, yes. For any commercial need like buying stock or the need for renovations are perfect examples.
How do I know if I am eligible?
If your business is located in Canada, has a commercial lease in good standing, an average sales figure of more than $ 15,000 per month and you have been in business for more than a year, you are eligible for a loan to a small Canadian company. If you have been refused by other lenders because of the kind of your business, do not worry, our loan is available to almost all types of businesses. Our approval process does not just consider personal and business credit, but it takes into account many other factors that help determine whether the business is healthy or not.
How is the refund?
Unlike traditional loans, sendan’s small business loans pay off on a daily basis. The amount of the daily refund is determined and accepted at the time of the loan and is flexible depending on the conditions and the amount of the loan. These payments are automated and you can track the details of your account transactions 24/7.
What is the waiting time to receive funds in my account?
Funds can be transferred in as little as 48 hours after acceptance of the contract.