[phunder]

Greeting my fellow funders,

I’ve recently come across some high-rev Canadian businesses seeking funding (think 2M-10M annually). I have a couple of Canadian lenders under my belt, but the offers coming through haven’t been up to par. Merchant has phenomenal credit, great balances, zero neg days, over a decade TIB—everything an A-Paper lender would be looking for. Yet I’m getting thrown 50k 1.5 @ 90 days or other similarly mediocre offers.

Do you guys have any recommendations for Canadian lenders? Or, ideally: would anybody know of something comparable to an SBA 7(a) or conventional term loan that would be available in Canada (that pays or at the very least allows PSF)? Any help in this regard would be greatly appreciated (and compensated).

WARNING: Please don’t waste my time with the influx of “oh we do 30 years at Prime–3” or “we will fund 200% of monthly rev on 24 months at 1.16 sell, quarterly payments”. I’m not looking to let y’all shop this file to death; been there, done that. If you have something concrete that you can back up with some literature, I’d be more than happy to work with you on fair terms.

[Zonefund]

Greeting my fellow funders,

I’ve recently come across some high-rev Canadian businesses seeking funding (think 2M-10M annually). I have a couple of Canadian lenders under my belt, but the offers coming through haven’t been up to par. Merchant has phenomenal credit, great balances, zero neg days, over a decade TIB—everything an A-Paper lender would be looking for. Yet I’m getting thrown 50k 1.5 @ 90 days or other similarly mediocre offers.

Do you guys have any recommendations for Canadian lenders? Or, ideally: would anybody know of something comparable to an SBA 7(a) or conventional term loan that would be available in Canada (that pays or at the very least allows PSF)? Any help in this regard would be greatly appreciated (and compensated).

WARNING: Please don’t waste my time with the influx of “oh we do 30 years at Prime–3” or “we will fund 200% of monthly rev on 24 months at 1.16 sell, quarterly payments”. I’m not looking to let y’all shop this file to death; been there, done that. If you have something concrete that you can back up with some literature, I’d be more than happy to work with you on fair terms.

Put a strong agreement in place. Charge 8%.

Then submit yourself to driven (they take no isos, have the agreement state you can apply for him). Pull your fee once he's funded.

I do this for my PayPal a + paper deals in the US.

I funded a 12 month 1.12 150k at driven (they're the PayPal of canada). Made 5%.

[Zonefund]

I had some drinks. I'm shocked I shared that with you they're my secret weapon for ca.

If you fund some deals you wanna toss me a point a deal? I can pm you.

[phunder]

I had some drinks. I'm shocked I shared that with you they're my secret weapon for ca.

If you fund some deals you wanna toss me a point a deal? I can pm you.

Thank you so much for the advice! If you could PM me with a bit more info regarding Driven and their typical terms/rates, I would be more than happy to give you a point if this ends up being able to fund my client.

Much appreciated again!

[Olderguy]

also OnDeck IOU CanaCap 2M7 and allegedly Greenbox and NewCo.

Yeah....not SBA 7A but options.

The other offering with Driven sounds good but make sure you read the loan docs as separate PSF's are not allowed and is specifically stated in the SBA loan docs.

[Zonefund]

also OnDeck IOU CanaCap 2M7 and allegedly Greenbox and NewCo.

Yeah....not SBA 7A but options.

The other offering with Driven sounds good but make sure you read the loan docs as separate PSF's are not allowed and is specifically stated in the SBA loan docs.

Driven is a loan, not sba.

[Olderguy]

Driven is a loan, not sba.

I get that I was just sugeesting be careful as SBA loan docs prohibit PSF. Sounds like Driven might do the same.

[Zonefund]

I get that I was just sugeesting be careful as SBA loan docs prohibit PSF. Sounds like Driven might do the same.

No sir. It's a regular term loan. It doesn't say you can't charge a fee. I've never seen a loan state that before (fc, fundation, iou, paypal etc). The fee language is prob just for sbas. I know of isos that charge 5 % fees on sba or more. How much time can they do for that Steve? Also what direct lender did you work for out of sheer curiosity, makes sense why youre so well versed in finance.

[Olderguy]

No sir. It's a regular term loan. It doesn't say you can't charge a fee. I've never seen a loan state that before (fc, fundation, iou, paypal etc). The fee language is prob just for sbas. I know of isos that charge 5 % fees on sba or more. How much time can they do for that Steve? Also what direct lender did you work for out of sheer curiosity, makes sense why youre so well versed in finance.

Paying a PSF on a SBA loan is in violation of the loan contract. The merchant can be held liable, etc..

I have several direct lenders...depends on the scenario....reach out on specifics...

[Big Mack]

I haven't been in touch with them lately, but Thinking Capital up in Montreal should be good for Canadian A-paper deals

[Canada Funder]

Hey,
We are not a “A Paper” funder but we do fund 1st pos. Not sure if you’ve already subbed to us and would need more info on the file for specifics. If it helps, we currently go up to 250k for new merchants and up to 500k on a re-fi. Happy to take a look for you.

If you are looking for $500k+ MCA offers, they don’t really exist in Canada.

Feel free to reach out with any questions.

Leibel
2M7 Financial
Leibel.b@2m7.ca
416-346-5143

[Bcooper]

I have a couple of hedge funds who'd be interested but would need more color on the deal but depending on EBITDA we could pull some strong offers that would be far better than a cash advance

[mikem]

Put a strong agreement in place. Charge 8%.

Then submit yourself to driven (they take no isos, have the agreement state you can apply for him). Pull your fee once he's funded.

I do this for my PayPal a + paper deals in the US.

I funded a 12 month 1.12 150k at driven (they're the PayPal of canada). Made 5%.

Do you pull an ACH in CA?

[greencapfunding]

I'd have to take a further look at this deal to be able to give you a definitive offer but if their file matches up the way you say it does we can do 7-8 months 1.28 potentially... give me a call 4256470938