Skip to content

Best Merchant Cash Advance Providers in Canada: How to Compare Them

Quick answer: The best merchant cash advance provider is the one that gives you the lowest total payback for the amount you need, on a payment schedule your cash flow can handle. Compare factor rate, fees, holdback percentage, term, speed and requirements. Canadian names to know include Merchant Growth, Driven, 2M7 Financial Solutions, Greenbox Capital and CanaCap.

Published terms

Terms vary by funder. Minimum time in business, revenue, credit requirements and fees change often, so check each provider's own page before you apply. Growpath Capital is a broker for businesses in Canada and the United States. The amount and the requirements on any offer come from the funding partner. We do not set one rate for every business.

Seven things to compare

  1. The total amount you will repay, in dollars
  2. The factor rate
  3. Fees, including origination, administration and returned payments
  4. Whether repayment is a share of sales or a fixed debit
  5. How long repayment is expected to take
  6. Whether paying off early reduces the cost
  7. What you need to qualify, and how long a decision usually takes

A broker or a direct funder

Going directly to one funder can make sense when you already know you meet that funder's requirements. A broker is useful when you want more than one offer from a single application, you have been declined elsewhere, or you are not sure which funder fits your industry. Read why use a broker.

Signs to walk away

  • No written total payback
  • A fee charged before you have an offer
  • Blank fields in the contract
  • Any promise of guaranteed approval

FAQ

Who are the main merchant cash advance providers in Canada?

Well-known Canadian providers include Merchant Growth, Driven, 2M7 Financial Solutions, Greenbox Capital and CanaCap. They differ on minimum revenue, time in business, credit requirements, funding limits and fees, which change over time. Check each provider's own page for current terms. A broker like Growpath can compare several funders through one application.

Should I use a broker or go direct to a funder?

Apply directly if you already know which funder suits you and you clearly meet its requirements. A broker helps when you want several offers at once, you were declined elsewhere, or you are not sure which funder fits your industry. Ask any broker how they are paid and whether it affects your total cost.

Compare offers with one application

See your options in dollars

Check your fit