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Frequently Asked Questions
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Frequently Asked Questions Everything You Need about Business Financing.
We offer a comprehensive range of business financing solutions including:
- Term loans for business expansion and equipment
- Working capital lines of credit
- Equipment financing and leasing
- Invoice factoring and accounts receivable financing
- Merchant cash advances
- Commercial real estate loans
- Construction financing
- Canadian Small Business Financing Loans (CSBFL)
Each financing solution can be customized to meet your specific business needs and circumstances.
Our loan amounts vary based on the type of financing and your business needs:
- Working capital: $25,000 to $10 million
- Equipment financing: Up to $10 million
- Commercial real estate: $250,000 to $50 million
- Construction loans: $500,000 to $100 million
- CSBFP loans: Maximum $1 million
Final loan amounts depend on factors such as business revenue, credit profile, and collateral availability.
Mortgage Process
The mortgage approval timeline typically varies based on the type of mortgage:
- Residential mortgages: 30-45 days from application to closing
- Commercial mortgages: 45-60 days (varies with complexity)
- Construction financing: 45-90 days (varies with complexity)
Factors that can affect the timeline include:
- Property type and location
- Documentation completeness
- Appraisal process
- Environmental assessments (for commercial properties)
- Lender requirements
We work to expedite the process while ensuring thorough due diligence.
Fees and Costs
Our fee structure varies by service type:
- Residential Mortgages: Success-based fee structure
- Commercial Mortgages: Success-based fee structure
- Business Financing: Varies by product and complexity
Additional Third-Party Fees may include:
- Appraisal fees
- Environmental assessments
- Legal documentation
- Title insurance
- Building condition reports
- Quantity surveyor reports
We provide full fee disclosure before engagement and work to minimize your costs.
Documentation
Required documentation varies by loan type:
Business Financing:
- Last 2-3 years of business financial statements
- Business tax returns
- Bank statements (last 6-12 months)
- Business plan or projections
- Business registration documents
Commercial Mortgages:
- Property details and photos
- Rent roll and lease agreements
- Property financial statements
- Environmental reports
- Purchase agreement (if applicable)
- Appraisal reports
Residential Mortgages:
- Employment verification
- Income documentation (T4s, pay stubs)
- Bank statements
- Down payment verification
- Purchase agreement
- Appraisal reports
Our team will provide a detailed checklist based on your specific situation.
Qualification
Qualification requirements vary by product:
Business Loans:
- Minimum 2 years in business
- Credit score 700+
- Positive cash flow
- Minimum net worth of 25% of loan amount
Commercial Mortgages:
- 20-35% down payment
- Debt Service Coverage Ratio 1.25+
- Property cash flow verification
- Industry experience
Residential Mortgages:
- 5-20% down payment
- Stable employment history
- Good credit history
- Acceptable debt ratios
We work with multiple lenders and can often find solutions for unique situations.
Contact Us
120 Woodstream Blvd, Unit 23 Woodbridge, ON L4L 7Z1
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