Workable Funding Canada
Merchant cash advance in Canada
Revenue-based funding for Canadian businesses from $10,000 to $350,000, sized on your bank deposits. No tax returns and no business plan. Three months of statements do the work.
How it works for Canadian businesses
1. Send statements
Apply online or email the three most recent months of complete business bank statements.
2. Underwriting
Our desk reviews deposits, balances and existing advances, then confirms any offer in writing.
3. Sign
Review the amount, total payback, payment schedule and term before signing.
4. Funding
Typically 48 to 72 hours after approval and signed contracts.
Merchant cash advance vs bank loan
| Merchant cash advance | Bank loan | |
|---|---|---|
| Decided on | Recent bank deposits | Financial statements, collateral, credit |
| Paperwork | Application + 3 months of statements | Tax returns, business plan, statements |
| Speed | Usually days | Often weeks |
| Cost | Higher; factor rate set per file | Lower interest rate |
Merchant cash advance Canada: common questions
Can a Canadian business get a merchant cash advance?
Yes. Workable Funding reviews Canadian businesses across the provinces for merchant cash advances from $10,000 to $350,000 CAD equivalent. Files are underwritten on our own desk and funded directly or through our own capital partners, under our contract.
What do I need to qualify in Canada?
At least 12 months in business, roughly $50,000 a month in business deposits, a 550+ credit score, an active Canadian business bank account, and the three most recent months of complete business bank statements. Approval depends on the complete file.
Is a merchant cash advance a loan in Canada?
A merchant cash advance is structured as a purchase of a share of future business receivables, not a loan. It is repaid from your business deposits on a fixed daily or weekly schedule. Read the contract carefully and get your own legal or accounting advice if you are unsure how it applies to your business.
What is revenue-based financing in Canada?
Revenue-based financing is funding sized on your business's actual deposits rather than on collateral or a business plan. A merchant cash advance is a common form of it. Workable reviews three months of bank statements to size the offer.
Can I use it as a working capital loan?
Yes. Canadian businesses use advances for working capital: inventory, payroll, equipment repairs, seasonal gaps and growth. There are no restrictions on business use beyond the contract.
Can I get funded in Canada with bad credit?
Credit matters, but bank deposits matter more. Canadian files need a 550+ credit score; below that, a file is usually not a fit. Strong, consistent deposits can offset an average score.
How is a merchant cash advance different from a bank loan?
Banks usually want years of financial statements, collateral and weeks of review. A merchant cash advance is decided mostly on recent bank statements, with no tax returns or business plan, and costs more than a bank loan. Factor rates are set per file.
How fast can a Canadian business be funded?
Complete files get a written answer quickly during business hours (9–5 ET, Monday to Friday). Funding typically lands 48 to 72 hours after approval and signed contracts. It is never guaranteed same-day.
Related: Ontario · Canada program · Canadian ISO brokers · Calculator · Funding answers
Questions? Email the desk.
Everything is handled in writing: hello@workablefunding.com.