Merchant cash advance in Canada: working capital in Canadian dollars.
Swyft Advance arranges funding for Canadian businesses through partners that operate in Canada. Advances from $10,000 to $1,000,000+ CAD against your future sales, decisions in 24–48 hours, and approval based on what your business deposits, not just the owner’s credit score.
At a glance
- Who
- Canadian-registered businesses, sole proprietors to corporations, 6+ months operating
- Currency
- Quoted, funded and remitted in Canadian dollars
- Amounts
- $10,000 to $1,000,000+ CAD, sized to monthly deposits*
- Cost
- A fixed total, set in Canadian dollars and agreed up front*
- Remittance
- Daily or weekly pre-authorized debit over 3–18 months
- Credit
- Revenue-based review. Equifax and TransUnion scores in the 500s considered.
The bank said twelve weeks and a personal guarantee. We can do two days.
Canadian small businesses sit between a handful of large banks and a thin layer of alternative lenders. The banks want two years of financial statements, strong personal credit and often real estate as security, and a decision takes weeks. Government-backed programs help with equipment and leasehold improvements but not with a payroll due Friday or inventory for the season that starts next month.
A merchant cash advance fills that gap. A funding partner purchases a portion of your future receivables and deposits the purchase price in your Canadian business account. You remit an agreed share of revenue, usually as a fixed daily or weekly pre-authorized debit, until the purchased amount has been delivered. The total cost is fixed in dollars on day one. It is not a loan, and it is priced for speed rather than for the lowest possible cost, which is why it works best when the capital earns more than it costs.
- Everything in CAD: no exchange risk, no US account required
- Decision in 24–48 hours from three to four months of bank statements
- No real estate or personal assets pledged in most programs
- Approval weighted toward deposits and cash flow, not the owner’s score alone
MCA vs. a Canadian bank term loan
| Merchant cash advance | Bank term loan | |
|---|---|---|
| Legal form | Purchase of future receivables | Debt |
| Cost basis | Fixed total, stated in dollars | Interest rate (prime plus) |
| Repayment | Share of sales, daily or weekly PAD | Fixed monthly payment |
| Term | 3–18 months | 1–10 years |
| Decision | 24–48 hours | 3–12 weeks |
| Security | None in most programs | Often real estate or a GSA |
| Credit weight | Low: deposits first | High: score, statements, years |
Four products, matched to the business.
What we place for Canadian businesses
Availability and pricing vary by province and partner. Your advisor tells you on the first call which of these your file is likely to qualify for.
Four steps from application to deposit.
Apply online
Ten minutes. Business details, your business number and your last 3–4 months of Canadian bank statements. No hard credit pull to see your options.*
Underwriting
Partners review deposits, average balance, NSF activity, time in business, CRA standing and any existing advances. Most decisions land in 24–48 hours.
Compare offers
Your advisor lays out each offer in Canadian dollars: advance amount, total remitted, daily or weekly PAD amount, and term.
Fund and remit
Sign, and funds are deposited to your Canadian business account, typically within 24–72 hours of final approval. Remittances begin on the agreed schedule.
A fixed total, in Canadian dollars, agreed before you sign.
MCA pricing is not an interest rate. The funding partner sets a fixed total that you will remit, states it in Canadian dollars, and writes it into the offer alongside the advance amount, the pre-authorized debit amount and the schedule. The total does not change if you remit faster or slower. Compare the dollar cost and the term together, not either alone.
Pricing in Canada follows the same logic as in the US. Longer time in business, stronger average balances, fewer NSF days, clean CRA standing and no existing advances all bring the cost down. Partners also price in the position: a first-position advance costs less than a third.
Because the advance is in CAD and remitted from CAD deposits, a business that invoices in US dollars should run the numbers on its Canadian-dollar inflows. Your advisor will do this with you.
- Advance amount
- The deposit to your account
- Total to remit
- Fixed in dollars on day one
- Remittance
- Daily or weekly pre-authorized debit
- Term
- Estimated weeks or months to deliver
Also in writing: any origination or PAD fees, how reconciliation works if sales drop, and whether early delivery earns a discount.
How to compare offers: same advance and same term, the lower total wins. A shorter term at the same total costs the same in dollars but takes more from each week’s sales.
Built for operating Canadian businesses with real deposits.
Each funding partner sets its own criteria. These are the guidelines most of them share for Canadian files.
- A Canadian-registered business: sole proprietorship, partnership or corporation, federal or provincial.
- 6+ months in business. Twelve months or more opens more partners and better pricing.
- $10,000+ CAD in monthly deposits to a Canadian business bank account. Advance size is usually 80–150% of average monthly revenue.
- Consistent deposits and few NSF days. Bank activity matters more than the score.
- Credit scores in the 500s are considered. Score affects amount and rate more than the decision. See our bad credit funding guide.
- CRA arrears are not an automatic decline if there is a payment arrangement in place. Tell your advisor up front.
What you’ll need
Have these ready and most files are decided within two business days.
- Last 3–4 months of Canadian business bank statements
- Most recent card processing statements, if you accept cards
- Government-issued photo ID for the owner
- Void cheque or direct deposit form for the business account
- Business number, and articles of incorporation if incorporated
- For larger amounts: most recent Notice of Assessment or financial statements
Every province, from Vancouver to St. John’s.
Canadian businesses we commonly fund
Funding is arranged remotely: application, documents and signing are all online, and funds go to your existing bank account. Territories are handled partner by partner.
Where a fast advance earns its keep in Canada.
- HST/GST and payroll remittances. Cover a CRA deadline that will not move, then remit out of the next month’s sales.
- Seasonal inventory. Stock for the summer in Muskoka or the ski season in Whistler before the revenue arrives.
- Equipment repair. Get a truck, walk-in or excavator back in service the same week. For a planned purchase, equipment financing is cheaper.
- Bridging slow payers. Carry a 60- or 90-day receivable from a general contractor or a provincial agency without missing supplier terms.
- A contract or a second location. Take the job or the lease that needs deposits and staff before the first invoice clears.
- Winter. Landscapers, roofers, patio restaurants and tour operators carrying fixed costs through the off-season.
Before you sign any advance
- Know the total dollar cost in CAD and the PAD schedule.
- Confirm the PAD amount and the schedule, and how reconciliation works if sales drop.
- Check for origination, PAD or early-payoff fees, and whether early delivery earns a discount.
- Understand what happens on a returned debit before it happens.
- Ask whether the agreement includes a personal guarantee or a general security agreement, and what it covers.
Your Swyft advisor walks through each of these on every offer. If an offer does not make sense for the business, we say so.
Straight answers for Canadian applicants.
Does Swyft Advance fund businesses in Canada?
Yes. Swyft Advance arranges funding for Canadian-registered businesses through funding partners that operate in Canada. Advances are quoted, deposited and remitted in Canadian dollars through your Canadian business bank account. We work with businesses in every province; availability in the territories depends on the partner.
How does a merchant cash advance work in Canada?
The same way it does in the US. A funding partner purchases a fixed dollar amount of your future receivables at a discount and deposits the purchase price in your account. You remit an agreed share of revenue, usually as a fixed daily or weekly pre-authorized debit, until the purchased amount has been delivered. The total cost is fixed in dollars up front; there is no interest rate. It is not a loan.
Do I need a Canadian business bank account?
Yes. Funding partners review three to four months of statements from a Canadian business account and remit through pre-authorized debit on that account. Accounts at any of the major banks or a credit union work. A US dollar account alongside a CAD account is fine; the advance itself is in CAD.
Can I qualify with bad credit in Canada?
Often, yes. Partners weigh deposits, balances, negative days and time in business ahead of the owner’s Equifax or TransUnion score, and most consider scores in the 500s. A lower score usually means a smaller advance and a higher cost rather than a decline. Approval is never guaranteed.
What documents do Canadian applicants need?
Your last 3–4 months of business bank statements, your most recent card processing statements if you accept cards, government photo ID for the owner, a void cheque or direct deposit form, and your business number or articles of incorporation. Larger amounts may require a recent Notice of Assessment or financial statements.
Which Canadian industries do funders work with?
Restaurants and hospitality, retail, construction and trades, trucking and logistics, auto repair, medical and dental practices, salons, manufacturing and wholesale are all common. Seasonal businesses are reviewed on a full year of deposits where possible. Some partners decline cannabis retail, firearms and a few other categories; your advisor will tell you up front.
See your funding options in Canadian dollars today.
Ten-minute application, no hard credit pull to check, a real advisor on every file.