How to qualify for a merchant cash advance in Canada
A merchant cash advance (MCA) is approved on cash-flow strength, not credit score. Most Canadian lenders evaluate the last 3–6 months of business bank deposits and assess daily/weekly repayment capacity. Below is the typical eligibility profile, the documents you will need, and how the approval process moves.
Start an applicationDocuments typically required: 3–6 months of business bank statements; Government-issued photo ID for the owner; Void cheque or pre-authorized debit form; Business registration / articles (if requested).
Do I need good personal credit to qualify for an MCA? No. Approval is driven by business deposits and cash-flow consistency. Personal credit is reviewed but is rarely the decisive factor.
How fast can MCA financing fund? A complete file typically funds in 24–72 hours. Incomplete documentation is the most common cause of delay.
Can I qualify if I'm in a payment plan with the CRA? Often yes, provided the plan is in good standing. Disclose it up front — most lenders accommodate it; hiding it will derail the file.
Typical eligibility requirements
- Business operating in Canada for 4+ months (some lenders 6+ months)
- Minimum $10,000–$15,000/month in business bank deposits
- A business bank account in the company name
- Owner is a Canadian resident with valid government ID
- No active bankruptcy or active consumer proposal