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Business Expansion Loans in Canada

What do all Canadian businesses have in common — right across the diverse corporate spectrum in this country? They are all looking to grow and expand.

All small businesses have one thing in common: the desire to grow and expand. The fact of the matter, however, is that businesses need capital to achieve this goal.

When you are faced with an unexpected growth opportunity, access to fast, affordable working capital is essential. At SharpShooter, we offer expansion loans to help small businesses make the most of exciting opportunities that can help them achieve business growth. We aim to get to know you and assess your short and long term objectives before delivering the funding you need to make this happen.

A business expansion funding loan with SharpShooter provides large-scale growth capital at competitive costs. We understand the nuances of business and offer speed, simplicity, and flexible repayment options that traditional lenders cannot match.

What You Need to Know About Business Expansion Funding:

When a business opportunity appears, it should not be ignored. If you need business funding to take you to the next step towards growth, consider SharpShooter.

What Are Business Expansion Loans?

These loans are designed for established businesses that are looking to take the next step. This funding is typically attained to acquire the assets needed to continue growing your company.

With small business loans, you can put things in motion to acquire assets and facilitate anticipated growth. For example, if you are expecting an increase in business, you will require funding to hire the staff needed to accommodate for this projected growth.

Who Are SharpShooter’s Business Expansion Loans For?

Our business expansion funding program is specially designed for businesses with a proven track record of success and financial security. This funding provides larger-scale capital for growth at competitive pricing.

This financing is ideal for businesses at the cusp of growth who lack the capital to acquire the assets needed to expand. If your business is not at this stage, we offer other types of small business loans. We want you to be able to access the cash you need, without worrying about the repayment terms.

What Can You Use Your Loan For?

Growth and expansion can happen organically, but there are times when an opportunity appears and cannot — or should not — be ignored.

The good news is that when you choose SharpShooter, you can use your financing for any aspect of your business that could help it grow and expand.

 Common areas businesses put this money into include:

  • Inventory orders
  • Working capital
  • Equipment
  • Marketing campaigns
  • Refinancing
  • Staffing
  • Training
  • Office space

How do Business Expansion Loans Work?

SharpShooter’s approval process for business expansion loans is fast and simple. The personalized flexibility of our funding means that you will receive the right-sized capital to meet your goals.

Automatic repayments and access to your online portal provide you with the simplicity and transparency you need to focus on your business.


What to Consider Before Applying for Your Loan

Before applying for your loan, be sure you know where the money is going and how it will be paid back. It’s a good idea to go into this loan with a high-level plan in mind:

Business Plan: How much money are you putting in, where are you investing it, and what is the projected return?

Projected Numbers: Be sure to have some projected numbers so you can weigh your funding alongside the money you expect to earn.

Business Loan Calculator: Be sure to use a business loan calculator to pinpoint the numbers you are looking at. (I.e how much funding you will get, your spend, and your projected profit.)

Growing Pains: Are you ready for this growth? Plan ahead and get the decision-makers in your business prepared for growing pains— train new staff, build processes, etc.

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The Advantages & Disadvantages:

PROSCONS
With longer, fixed-terms and specified pricing, our business expansion loans are ideal for tackling growth initiatives./td>Keeping up with fixed payments can be difficult for businesses who experience seasonality or fluctuating revenues.
Unlike a bank loan, which could take months, this product allows you to act when the opportunity arises.Companies who have shorter-term needs could be better suited for a SharpShooter Short Term Loan.
Automatic weekly or bi-weekly payment structures allow you and your Canadian business to focus on growth.


Choose SharpShooter for Your Growth & Expansion Funding

There are many factors that drive clients to select us as their partners for growth and expansion funding:

  • Personalized services delivered with the nuances of your business in mind
  • Quick online application processes, often taking as little as 100 seconds to complete
  • Rapid approvals, generally within hours, giving you the flexibility, you need
  • Repayment terms that suit you, and which will not put undue strain on your business in the future
  • The flexibility needed to take advantage of opportunities in the market
  • Approval protocols based on future transaction projections to ensure that new businesses and those without a strong funding track record can get what they need

What You Need: Qualifying Criteria & Required Documents

Your Canadian business must meet the outlined criteria and provide the necessary documentation

to qualify for SharpShooter business expansion funding.

Qualifying Criteria:

  • 620+ credit score
  • 3+ years in business
  • $20,000+ average monthly bank deposits
  • $3,600+ in average daily balances

Documentation

  • Hand Signed business funding agreements
  • Business mortgage statement if you own; business lease agreement if you rent
  • Unexpired government-issued picture ID of all owners (front and back)
  • Last Twelve (12) months of Business Bank statements
  • Two years of financials, along with YTD P&L & Balance / Income Statement (funding over $75,000)

Getting Business Loans with Bad Credit

Expansion loans are used by already established businesses, but not all businesses are established enough to warrant this type of financing. This is why we offer bad credit funding.

Small businesses tend to struggle to attain financial loans due to bad credit. This bad credit can often be chalked up to limited credit history as credit scores are typically calculated based on how long a company has been operating.

SharpShooter offers bad credit funding to small businesses who haven’t been around long enough to build up good credit. If your business is not yet ready for an expansion loan but requires funding, consider alternative ways to attain financing with bad credit:

1: Get a Smaller Loan

It’s hard to attain business loans when you don’t have a credit score to support your application, so try starting with a smaller financing request. This way you can still put money into your business, and you can pay it off to improve your credit score.

2:  Sign a Personal Guarantee

It’s common for a business owner to have good personal credit when their new business has poor credit. In this case, you can leverage your personal credit!

3: Cash Down

If you have poor credit but good cash flow, you have the option to use cash for your loan down payment.

4: Collateral

If you have bad credit, you have the option of leveraging one of your assets — i.e. collateral — to attain the financing you need.


SharpShooter Funding VS. Traditional Bank Loans

The unrealistic credit scores are just one of the many things that small businesses struggle with when applying for financing from a bank, or any traditional financial institution for that matter.

When you choose SharpShooter, all you have to do is apply online to get approval for your financing and then get your funds. We make the process a lot more streamlined than traditional banks.

Traditional lenders simply cannot compete with what we can provide, and our flexible repayment plans make it easy to stay on top of your finances.

When you apply for your loan online with a financial institution, you have to wait up to a month for your financing to get approved. If your loan gets approved, you’re looking at another three months to actually see those funds.

We provide same-day approval, approve 75% of applicants we receive, and will have your funds in your account within 24 to 72 days — we make things that easy. As an alternative lender, we provide easier approval, a faster approval window, enhanced flexibility, various loan types and more.

Why SharpShooter: Experts in Small Business Funding

At SharpShooter, we consider ourselves experts in funding small and medium-sized Canadian businesses. We’ve been providing financial solutions for small businesses since 2015 and continue to support Canadian small businesses and the Canadians who run them.

We offer in-depth consultation and advice to connect small businesses with the right funding package. Our commitment to straightforward and streamlined processes, accessible funding and competitive approval rates make us an alternative lender that you can count on.

It is our goal to stand shoulder to shoulder with owners as their ventures grow and expand — we will support you every step of the way. We understand how vital small and medium-sized Canadian businesses are to Canada’s economy, and work to provide all enterprises and industries with unique financing options that cater to their unique needs.

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Applying for Your SharpShooter Loan

No need to wait in line for hours or drown in paperwork. When you apply for financing with SharpShooter, our process involves 3 short and easy steps:

1: Apply

Apply for your loan online by filling out our form — it won’t take you any more than 100 seconds!

2: Approval

Your application will go to a credit specialist who will assess your information. We provide same-day approval so that you aren’t waiting in anticipation.

3: Get Funded

When you get approved for your funding, you will get your funds within 24 to 72 hours! Apply for your loan online.

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