– Lenders typically require business formation documents, a detailed business plan, and financial statements for the past two years. You will also need current bank statements, personal and corporate tax returns, and government-issued photo ID.

– Through programs like the Canada Small Business Financing Program (CSBFP), businesses can access up to $1.15 million. This includes a maximum of $1 million for term loans and up to $150,000 for lines of credit.

– The timeline varies significantly by lender; online platforms may offer approval in as little as 24 hours, while traditional banks often take several weeks to months due to more rigorous underwriting and manual processes.

– Yes, we specialize in helping new ventures navigate financing. For startups, we focus on creating robust financial projections for the next three to five years to demonstrate viability and reduce the perceived risk for lenders.

– Beyond interest rates, you may encounter registration fees (often 2% for government-backed loans) and lender setup or renewal fees. KVPCPA provides a transparent fee structure for our advisory services to ensure you understand all costs upfront.