How to Apply for a Business Loan Online in Canada
lendflo has removed the complexity from business lending. Apply in 5 minutes, get a fast decision, and receive funds directly in your business bank account — no branches, no stacks of paperwork.
How do I get a business loan in Canada?
Complete the free online application in about 5 minutes. A lendflo advisor matches your file with lenders, you compare offers, usually with a fast decision, then you accept one. Funds typically arrive quickly. Have recent bank statements, your business registration and ID ready.
The 3-Step Process
From application to funding — as simple as it gets.
- 01
Apply Online in 5 Minutes
Fill out our simple online form — no paper applications, no branch visits. Tell us your monthly revenue, how long you've been in business, and what you need the funds for.
- No Social Insurance Number required
- Soft credit check only — no score impact
- Available 24/7, on any device
- No business plan needed
- 02
We Match You with Lenders
lendflo reviews your application and matches you with lenders from our network that fit your profile. We compare offers so you get the best available rate and terms.
- AI-assisted lender matching
- Multiple offers compared for you
- Dedicated advisor available to answer questions
- Decision in 24 business hours
- 03
Funding in Your Account
Once you accept an offer and sign your agreement, funds are deposited directly into your business bank account — typically shortly after approval.
- Direct deposit to your business account
- Shortly after approval
- No collateral required in most cases
- Repayment set up automatically
Document Checklist
Here is what you will need. Most business owners can pull this together in under 10 minutes.
- CRA Business Number (BN)Found on your CRA My Business Account or T2 return
- 3 Months Business Bank StatementsPDF or printed statements from your business chequing account
- Voided ChequeFor direct deposit setup; must be a business account cheque
- Government-Issued IDPassport, driver's licence, or provincial ID card
- NEQ (Quebec businesses only)Numéro d'entreprise du Québec — available at registreentreprises.gouv.qc.ca
Common Questions Before Applying
Here are the questions we hear most — with straight answers.
Is this really free for me?
Yes. lendflo charges nothing to business owners. We earn a referral fee from lenders when a loan is successfully funded. You will never receive a bill from us.
Will this hurt my credit score?
No. The initial review uses a soft credit inquiry that is invisible to other lenders and has zero impact on your score. A hard inquiry only occurs if you choose to accept a lender's formal offer.
How fast can I really get funded?
Most approvals happen within 24 business hours. After you sign the agreement, funds are usually in your account quickly. Emergency funding for established businesses can sometimes close quickly.
What if I don't have perfect paperwork?
Most lenders in our network are flexible. If you have 3 months of bank statements showing consistent deposits, you can likely qualify — even without audited financials or formal financial statements.
Frequently Asked Questions
We’re here to simplify your business financing journey, so you can feel confident every step of the way.
The online application takes about 5 minutes. You answer a few questions about your business, your revenue, and what you need the funds for. No lengthy paperwork, no in-person meetings required.
You typically need your CRA Business Number (BN), 3 months of business bank statements, a voided cheque, and a government-issued ID. Quebec businesses also need their NEQ. No audited financials or business plans required.
lendflo uses a soft credit pull during the initial review, which does not affect your credit score. A hard credit inquiry only happens if you choose to proceed with a specific lender's offer.
Most applicants receive a decision within 24 business hours. If your application is straightforward, you may hear back quickly. Once approved, funds typically arrive quickly.
Yes, lendflo is completely free for business owners. We are paid by the lenders in our network when a loan is successfully funded. There are no application fees, no broker fees, and no hidden charges to you.
If we cannot match you today, we will explain why and what steps may improve your chances. Many declined applicants reapply after 3–6 months and get approved as their revenue or credit profile improves.
Still have questions?
No obligation, just answers.
Ready to Apply?
Join thousands of Canadian business owners who got the funding they needed — fast and without the hassle.
Start My Free ApplicationNo fees • fast decision • No credit score impact
Documents to have ready
Having these ready is the quickest way to a fast decision.
- Business bank statements — three to six months.
- Business registration and business number — (BN, or NEQ in Quebec).
- Government-issued ID — of the owner.
- A voided cheque — or banking details.
- A supplier quote or invoice — for any equipment or inventory.
- Financial statements or tax filings — for larger amounts.
Documents by type of financing
What lenders usually ask for, by product.
| Financing | Usually needed | Often added |
|---|---|---|
| Term loan | 3–6 months of bank statements, ID, business number | Recent financial statements for larger amounts |
| Equipment financing | The same, plus a supplier quote or invoice | Details of the equipment |
| Working capital | Recent bank statements showing monthly revenue | Explanation of seasonal dips |
People also ask
Through lendflo, most applicants get a fast decision, and funds typically arrive shortly after approval. Speed depends on the lender and on how complete your documents are, so have recent bank statements ready before you apply.
Most lenders ask for three to six months of business bank statements, your business registration, identification, and the amount and purpose of the loan. Equipment loans add a supplier quote, and larger amounts may need recent financial statements or tax filings.
lendflo’s initial review uses a soft credit check, which does not affect your score. A hard inquiry, which can lower it slightly, usually happens only when you go ahead with a specific lender’s final application. Ask each lender which kind of check it uses.
No. lendflo is free for business owners; it is paid by the lender when a loan funds. Whoever arranges a loan, always compare the total amount you will repay on each offer, not only the interest rate.
Terms explained
What is a soft credit check?
A soft credit check, or soft inquiry, lets a lender look at your credit file without affecting your credit score. A hard inquiry, usually made when you proceed with a lender’s final application, can lower the score slightly. lendflo’s initial review uses a soft check.
See in the glossaryWhat is a business term loan?
A business term loan is a lump sum that you repay with interest over a fixed period, usually in regular monthly payments. It suits planned, one-time investments such as expansion or hiring. Through lendflo, term loans run from $25,000 to $2,000,000, with repayment terms of up to 60 months.
See in the glossaryWhat is the total cost of borrowing?
The total cost of borrowing is everything you pay on top of the amount you borrow, including interest and fees. The annual percentage rate (APR) expresses that cost as a yearly percentage so offers can be compared. Always compare the total amount repaid, not only the interest rate.
See in the glossary