Business Line of Credit
Fund your path forward with financing on demand.
Financing at your fingertips ready to work for you, whenever you need it. From $10K up to $300K in as little as 24 hours1.
The only true Line of Credit
custom-built for small businesses.
Pay only for
what you use
Take as much as you need, as often as you like. You’ll only be charged interest on what you borrow, and you can feel confident knowing that you’ll always have funds when you need them.
Instant funding
on withdrawals
Receive your funds in real-time 24/7 via Interac e-Transfer®2. Withdraw as little as $500 right up to your approved limit with a few simple clicks.
Effortless
repayment
We’re all about keeping it simple. Enjoy the ease of a single consolidated weekly repayment, no matter how many times you withdraw funds. We set up automatic repayments on the weekday of your choosing so you have one less thing to worry about.
Repay your way with flexible
repayment options.
Fixed repayment
The best option if you prefer the predictability of a fixed, weekly payment. Anytime you draw funds your balance will be consolidated into new fixed weekly repayment amount. That amount will automatically be debited from your business bank account on the weekday of your choosing, because you have more important things to do.
Variable repayment
The best option if you prefer to pay down your principal balance faster and save on interest. Your payments are broken down into a percentage of your principal plus interest every week, decreasing over time. Your weekly repayment amount will automatically be debited from your business bank account on the weekday of your choosing, so you have one less thing to worry about.
Stay ready with a Business line of credit.
Put your line of credit to work for a variety of short-term business needs and keep things moving in the right direction.
Repairs
Inventory
Cash flow
Payroll
Minor expenses
Minor renovations
Funding your path forward is simple.
1
Apply online
Complete our online application to find out how much you qualify for. Applying is 100% risk free. There is no obligation to continue and applying will not affect your credit score.
2
Fast funding
Get up to $300,000 in as little as 24 hours1,2. Your funds are deposited directly into your business bank and ready to use to move your business forward.
3
Automated repayments
We’re all about keeping things simple so we setup convenient automatic repayments for you. Choose from daily or weekly, whatever suits you best.
Business Line of Credit FAQ
Our Business Line of Credit was built for flexibility. They range from $10,000 to $300,000. Like a traditional line of credit, pay only for what you use and withdraw more funds online whenever you need it. Unlike a traditional line of credit, you can choose which weekly repayment option fits your business best: a fixed amount each week, or one that gets smaller over time.
To qualify for business financing with Journey Capital:
1) Your business must be based in Canada.
2) You must have a business bank account with a Canadian financial institution.
3) You must have business history of at least 6 months, with you as the business owner.
4) You must make a minimum of $100,000 in annual sales.
To make a draw from your Journey Capital Business Line of Credit:
1) Log into your MyPortal
2) In your main view, select your Line of Credit
3) Click “Withdraw Funds”
4) Enter your desired amount
5) Click “Submit”
6) Your funds will be transferred to your account within a few hours3
Fixed repayment breaks down your total balance into equal, weekly payments over the course of your term. Regardless of how many times you draw, your balance will be consolidated into a new equal, fixed amount. If you make an unscheduled repayment, your balance will decrease, but your fixed payment will remain the same. The payments are then automatically debited from your business bank account weekly, on the day of your choosing.
Variable repayment breaks down your outstanding balance as a percentage of your principal + interest every week. As your principal decreases, so does the interest you owe, making your payment amount decrease over time. The payments are then automatically debited from your business bank account.
Business Lines of Credit and credit cards are both forms of revolving credit, they allow you borrow money up to a certain limit and pay it back over time. The funds from a Business Line of Credit are deposited directly into your business bank account but the funds from a credit card can only be used where the card is accepted. A credit card is better suited for purchases such as travel or utilities, while a Business Line of Credit is better suited for ongoing or unexpected expenses such as repairs or payroll.
With a Business Term Loan, you receive the full amount of financing up front and repay with fixed installments (daily or weekly) over the course of the term. With a Business Line of Credit, you are given a limit and have control as to when and how much you draw from it. A Business Term Loan is better suited for investments such as purchasing equipment or financing an expansion, while a Business Line of Credit is better suited for ongoing or unexpected expenses such as general cash flow or purchasing inventory. Learn more about our Business Term Loan.
Flex Funds Advance is an advance product that provides you with the full amount of financing up front and is repaid with variable, daily payments using a small percentage of your daily card sales. With a Business Line of Credit, you are given a limit and have control as to when and how much you draw from it. Flex Funds Advance is better suited for seasonal businesses or those with more unpredictable sales cycles while a Business Line of Credit is better suited for ongoing or unexpected expenses such as marketing or equipment repairs. Learn more about our Flex Funds Advance.
Trusted by thousands of Canadian business owners just like you.
Funding subject to lender approval.
1 On average, file processing can take 24-72 hours. Funds are generally transferred within 24 hours of contract acceptance and satisfaction of all funding conditions.
2 On average, funds are transferred within 24 hours upon receipt of an accepted financing contract.
3 Based on ordinary processing times, if you confirm your draw before 16:00 EST, you should receive your funds by midnight EST. If confirmed after 16:00 EST or on a weekend or holiday, you should receive your funds by midnight of the next available business day.