Business Loan FAQ

What documents do I need to submit?

For all applications we require:

1. Signed and dated contract pages
2. Government Issued photo ID
3. Void Cheque
4. DRF or Data Release Form (If a payment processor is connected) 

To qualify for financing, a number of factors are considered; additional documentation may be required depending on how much financing you need.

What types of businesses do you work with?

We work with existing small to medium sized businesses across Canada in a variety of industries, including restaurants, retail, auto repair, and health and beauty.

If I don’t have an email address can I still apply online ?

An email address is required.

I don’t own 100% of my business; can I still apply for financing?

If you own at least 75% you can apply alone. If you own less than 75% your co-owner(s) information is also required.

How will I know that I am approved for financing?

You will receive an email confirmation outlining your approval from Thinking Capital.

How do you determine how much financing I am eligible to receive?

We determine the amount you qualify for based on information from the data sources you connect. For example, we can take your processor’s deposits, Paypal & Square transactions, or your cheque deposits and cash deposits into consideration.

Will my credit score be affected?

Applying for financing will not affect your credit score.

Who can be an emergency contact on my application?

Anyone that is not an owner of the business can be an emergency contact.

What happens after I apply for financing?

Once we’ve received your application we will send you an email confirmation with instructions or someone will contact you within 24 hours.  

If you have any questions, you can also contact one of our Customer Success Agents at 1-866-330-7720 during regular business hours- 9:00am-6:30pm EST, Mon-Fri. 

You can also use the “Contact Us” tab on our website for more information.  https://www.thinkingcapital.ca/contact

I am planning to move my business to a new location; can I still apply for financing?

Yes, but please inform us of your planned move when you apply.

How quickly can I expect to receive financing?

Upon approval, you can expect to receive your funds in as little as 24 hours!

How can I speed up the application process?

To help make the application process as smooth as possible you can:

1. Make sure all contract pages are signed and dated where necessary.
2. Send clear documentation - submit a photo via text if that’s easier.
3. Submit all requested documentation with the initial contract.

Do I need to change my current processor if I take financing from the National Bank Small Business Capital powered by Thinking Capital program?

We have developed relationships with many processors, reducing the need for our customers to change processors once approved for financing.
However, there are cases where a customer may need to change their current processor to one that we work with.  If this is the case, we will help facilitate the transition during your application.
 
If you have any questions, you can contact one of our Customer Success Agents at 1-866-330-7720 during regular business hours- 9:00am-6:30pm EST, Mon-Fri.
 
You can also use the “Contact Us” tab on our website for more information.  https://www.thinkingcapital.ca/contact

Can I still apply for funding if my business is for sale?

Unfortunately, we cannot move forward with your application if your business is currently for sale. However, this does not mean you can’t receive financing from us in the future, once your business is no longer for sale.

Are there any restrictions on what I can use the financing for?

You can use the funds for anything related to your business, such as helping it grow with renovations, inventory, expansion, equipment marketing and advertising

How do I repay the financing I received?

Payments are automatically deducted from your business bank account that you provided during your application.

How long will it take for the funds to appear in my bank account, once you send the wire transfer?

Depending on which bank you work with, you may see your funds as early as the same day.

Who can I contact if I have questions regarding my account?

If you have any questions, you can contact one of our Customer Success Agents at 1-866-330-7720 during regular business hours- 9:00am-6:30pm EST, Mon-Fri.
 
You can also use the “Contact Us” tab on our website for more information.  https://www.thinkingcapital.ca/contact

How do I connect my PayPal account?

Essentially you will need to create an API signature to connect your PayPal account. To do so, please follow the 6 steps outlined below: 

1.  Log in to your PayPal business account at www.paypal.com. Click the profile icon (  ) on the top right side of the page. 
2.  From the Business Profile menu, select Profile and Settings.
3.  Proceed to the left side of the menu, click My Selling Tools.
4.  Go to the Selling Online section, click the Update link for the API Access item. 
5.  To generate the API Signature, click Request API Credentials on the API Access page.
6.  Select Request API signature and click Agree and Submit to generate the API signature.

How do I access my account statement?

Your statements can be found under the Statements in the “My Account” section when you log into your Customer Account.

How can I obtain a copy of my contract?

You and every additional owner who has signed the contract will receive a copy by email. 
 
Alternatively, please call our Customer Success agents at 1-866-330-7720 during regular business hours- 9:00am-6:30pm EST, Mon-Fri to arrange for a copy to be resent to you.