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Small Business Term Loans

When your business needs money, you can bank on iCapital. 98% of applications get approved.
Apply now!

Term Loan

Term Loan
Apply now!
Products
Term Loan

The stress-free small business loan alternative

Our funding process is simple and straightforward. We give you the money you need today, and an agreed upon payment is remitted from your bank account until the loan is paid off. And, you can get the money in 24 hours. 

Same day approval. Next-day funding. It's that simple.

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APPLY NOW

Raising money for expansion is not easy, but iCapital made it very simple. They helped us move into our dream location and business has never been better! We were most impressed with how fast they replied to our emails and phone calls. It is very reassuring to have this much support.

Deb Hoisington | Pet Store Owner, Sylvan Lake AB

Having up-to-date equipment and products is a must in the health and beauty industry. We now have new product lines and equipment and can offer services others can't. This financing has made a huge difference to our business.

Robert Caputo | Salon Owner, Scarborough ON

When I decided to renovate my restaurant iCapital came through for me. My account rep, Domenic, was very helpful and made the process really easy. It was completely different from my experience dealing with the banks in the past. And the best part is the cost of the reno paid for itself within the first season!

Rocco Silvaggio | Restaurant Owner, Toronto ON

When our slow season came about and the bills started piling up, it was iCapital's fast and easy funding process that got us through. Within seven days we had the money we needed. I strongly recommend iCapital to any business owner trying to raise money for their business.

Neil Pramauntanyatath | Restaurant Owner, Hamilton ON

Client Showcase

Find out how much you qualify for

Enter your total gross annual sales.
This does not constitute an official offer. Complete our online application to receive a funding proposal.

Easy 3-step Application

Request an estimate

Complete the short online application form telling us your name, company and annual gross sales. Our customer care team is available to answer any questions you have.

Apply

Fill out our secure application form, which includes basic information about your business and contact information. We will work with you to gather any other required documentation.

Approval

Once approved, the funds will be deposited into your account.

Repayment

After you receive your funding, an agreed upon payment will be remitted from your bank account 5 days a week until you have paid in full.

Account Management

Our automated system makes repayment hassle-free and highly secure, thanks to our partnership with schedule 1 Canadian chartered bank DC Bank. And, you can access your account 24/7 through our secure customer portal.  You will receive monthly communications, including a summary of your balance.

Compare Products

 

    Interest   Fees   Daily repayment type   Percentage payment   Amount   Let’s get started
Merchant Cash Advance   No   Yes   Flexible   Yes   $5,000 - $250,000   Apply Now
Term Loan   No   Yes   Fixed   No   $5,000 - $100,000   Apply Now

Term Loan Program

 


 

   

6-month term

9-month term

  

12-month term
Average Loan Amount   $20,000 $30,000   $40,000
For every dollar you borrow, you pay an average    0.18 0.22   0.28
Average cost of loan   $3,600 $6,600   $11,200

Disclaimer: Financial figures illustrated above are based on iCapital Financial Services averages 2017-2018

 

Am I eligible?

We only have four criteria:
  1. You must have annual gross sales of over $100,000 
  2. Your business has to be in operation for at least twelve months.
  3. No start-ups, construction, home businesses, online businesses, funeral homes, furniture or jewellery stores and cheque cashing businesses.
    You must have a storefront or professional office space.
  4. No open bankruptcies
    Bad credit isn’t a problem—many of our customers have less than perfect credit scores, but we cannot accept applicants with open bankruptcies.
APPLY NOW QUESTIONS?  DISPLAY FAQ

What is a Term Loan?

A term loan is a small business loan up to $100,000 that allows a business owner to make small daily fixed payments within a 6 month or 9 month term without any accumulating interest.

Why should I choose a Term Loan?

A term loan is perfect for a business owner who needs to purchase inventory or equipment quickly without having the commitment of a long term loan and large monthly payment.

Is it really free to apply with iCapital?

Yes – it is truly free. We promise there is no catch.

Who gets approved for a Term Loan?

In order to be considered for an iCapital micro loan you must have one year in business, over $100,000 annual sales, business must operate within Canada and cannot be internet based.

Can I still apply for an iCapital Term Loan if I have bad credit?

Yes – as long as you do not have an open bankruptcy.

How long does the application process take?

The entire process, from the time the application is received and processed to the time you receive the funds in your bank account, is less than 10 days.

Do I have to change my bank account?

No, you do not have to change your bank account, iCapital works with all banks.

How does iCapital collect payment?

iCapital will withdraw the agreed upon fixed payment from the client's business bank account, 5 days a week.

How much money does my business qualify for?

Your business may qualify for up to $100,000. iCapital uses a proprietary software to determine your businesses approval amount.

Can I pay off my Term Loan at any time?

A term loan is open and may be paid in full at anytime, without penalties.

Can I qualify for more than one Term Loan?

A business owner may apply for a second term loan once the first one has been paid off in full.

What is the interest rate?

iCapital does not charge an interest rate, our rate is a flat fee added to the amount borrowed, which will be determined based on credit worthiness, length of time in business and other factors.

Is iCapital a Canadian Company?

Yes, iCapital is proud to be a 100% Canadian Company.

How long has iCapital been in business for?

iCapital has been serving Canadian businesses since 2007.

© 2019 iCapital Financial Services Corp.

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Am I eligible?

We only have four criteria:

  1. You must have annual gross sales of over $100,000 
  2. Your business has to be in operation for at least twelve months.
  3. No start-ups, construction, home businesses, online businesses, funeral homes, furniture or jewellery stores and cheque cashing businesses.
    You must have a storefront or professional office space.
  4. No open bankruptcies
    Bad credit isn’t a problem—many of our customers have less than perfect credit scores, but we cannot accept applicants with open bankruptcies.
Apply Now