Business Loans with Bad Credit: Your Options in Canada
A low credit score does not have to stop your business from growing. Here are realistic financing options for Canadian businesses with credit challenges.
Start an applicationWhy Traditional Banks Say No. Most Canadian banks require personal credit scores of 680+ and two or more years of business history. If you have had financial difficulties, a bankruptcy, or simply have not built credit history, banks will typically decline your application.
Alternative Lending: Different Criteria, Same Capital. Alternative lenders evaluate your business on its current performance — not just your credit score. Monthly revenue, bank statement history, and industry are all weighted heavily. Many alternative products are accessible with credit scores as low as 500.
Best Products for Lower Credit Scores. Invoice financing is the most accessible because approval is based on your clients' creditworthiness, not yours. Equipment financing uses the equipment as collateral, reducing the lender's risk. Revenue-based financing looks at monthly cash flow.
How Voxen Evaluates Your Application. At Voxen Capital, we look at the full picture: your revenue, your industry, your growth trajectory. A credit score of 500+ with $15,000+ monthly revenue and 6+ months of bank statements puts you in a strong position for approval.