Trading history
Canadian business finance for companies trading 12 months or less
24 providers publish a minimum trading history of 12 months or less — the usual binding constraint for a young business — compared on cost, term, speed, and revenue floor.
For newly established Canadian businesses, and advisors financing companies without a long operating record.
| Provider | Published cost | What it measures | Term | Funding speed | Published criteria |
|---|---|---|---|---|---|
| Capchase CA | 7%–10% | Discount fee | Flexible | 48 hours | Requires at least 6 months in business. |
| Driven Financial | 8%–18% | Annual rate | 6–24 months | 24–48 hours | Requires at least 6 months in business and $10,000+ in annual revenue. |
| Driven Financial Term | 8%–18% | Annual rate | 6–24 months | 24–48 hours | Requires at least 6 months in business. |
| Driven RBF | 8%–18% | Discount fee | 6–24 months | 24–48 hours | Requires at least 6 months in business. |
| iCapital | 8%–24% | Annual rate | 3–18 months | 24 hours | Requires at least 3 months in business. |
| iCapital RBF | 8%–24% | Discount fee | 3–18 months | 24 hours | Requires at least 3 months in business. |
| iCapital Term | 8%–24% | Annual rate | 3–18 months | 24 hours | Requires at least 3 months in business. |
| Thinking Capital | 8%–20% | Annual rate | 6–18 months | 24 hours | Requires at least 6 months in business. |
| Thinking Capital RBF | 8%–20% | Discount fee | 6–18 months | 24 hours | Requires at least 6 months in business. |
| Thinking Capital Term | 8%–20% | Annual rate | 6–18 months | 24 hours | Requires at least 6 months in business. |
| Lendified | 9%–24% | Annual rate | 6–18 months | 24–48 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| Lendified RBF | 9%–24% | Discount fee | 6–18 months | 24–48 hours | Requires at least 1 year in business. |
| Lendified Term | 9%–24% | Annual rate | 6–18 months | 24–48 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| OnDeck CA RBF | 9%–36% | Discount fee | 6–18 months | 24 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| OnDeck CA Term | 9%–36% | Annual rate | 6–18 months | 24 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| OnDeck Canada | 9%–36% | Annual rate | 6–18 months | 24 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| Lending Loop | 12%–28% | Factor fee | 3–18 months | 3–5 business days | Requires at least 1 year in business and $100,000+ in annual revenue. |
| Driven Financial MCA | 18%–35% | Factor fee | 3–12 months | 24–48 hours | Requires at least 6 months in business and $10,000+ in annual revenue. |
| iCapital MCA | 18%–35% | Factor fee | 3–12 months | 24 hours | Requires at least 3 months in business. |
| Lendified | 18%–35% | Factor fee | 6–12 months | 48 hours | Requires at least 1 year in business and $120,000+ in annual revenue. |
| Merchant Growth | 18%–35% | Factor fee | 3–12 months | 24–48 hours | Requires at least 6 months in business and $120,000+ in annual revenue. |
| OnDeck Canada MCA | 18%–38% | Factor fee | 6–15 months | 24 hours | Requires at least 1 year in business and $100,000+ in annual revenue. |
| Thinking Capital | 18%–35% | Factor fee | 3–12 months | 24 hours | Requires at least 6 months in business. |
| IOU Financial | 20%–38% | Factor fee | 6–15 months | 24–48 hours | Requires at least 1 year in business and $120,000+ in annual revenue. |
These costs are quoted on different bases and are not directly comparable
- Discount fee
- Charged per invoice or trade cycle rather than per year. A fee that looks small can annualise into a much larger number when cycles repeat through the year.
- Annual rate
- Quoted as an annual rate on the outstanding balance.
- Factor fee
- A fee on the total advanced, not an annual rate. Because it is charged in full over a repayment period shorter than a year, the equivalent annualised cost is materially higher than the number shown.
What this filter actually selects for
Trading history is the constraint that cannot be argued around. Revenue can be demonstrated, credit can be repaired, and collateral can sometimes be found, but a business that has been operating for eight months cannot present two years of records. That makes the published minimum a hard gate rather than a soft preference, and it is the first thing worth filtering on.
What replaces operating history in underwriting is usually transaction data. Providers lending to young businesses tend to want bank feeds, payment processor history, or platform sales data — evidence of cash movement over a shorter window, at higher resolution. Businesses that can produce clean data of that kind are in a materially stronger position than the trading period alone suggests.
- Providers matching: 24
- Product types represented: 4
- Distinct cost conventions in this table: 3
- Catalogue reviewed: Q1 2026
Reading costs across different products
This page cuts across product types, which means the cost column contains quantities that are not directly comparable with one another. 3 different quoting conventions appear below. A fee charged per invoice cycle and a rate charged annually can show the same number and differ by an order of magnitude in what they actually cost.
The basis is shown against every figure for that reason. Comparing within a basis is meaningful; comparing across one is not, and any ranking that flattens them into a single "cheapest" column is producing a misleading answer confidently.
- Discount fee: Charged per invoice or trade cycle rather than per year. A fee that looks small can annualise into a much larger number when cycles repeat through the year.
- Annual rate: Quoted as an annual rate on the outstanding balance.
- Factor fee: A fee on the total advanced, not an annual rate. Because it is charged in full over a repayment period shorter than a year, the equivalent annualised cost is materially higher than the number shown.
Before acting on this list
Financing available to a young business is generally shorter and more expensive than what the same business will access twelve months later. Where the need is not urgent, the cost of waiting is often lower than it appears, and where it is urgent, borrowing the minimum that solves the problem usually beats borrowing the maximum available.
Caplift's assessment runs the same inputs a provider will — capacity, purpose, existing obligations, and the evidence behind the figures — and produces a readiness view and a structured comparison. It does not lend, and it does not decide. The decision stays with the business and its advisors.
Common questions
Questions businesses ask
Can a business under 12 months old get financing in Canada?
24 providers in this catalogue publish a minimum trading history of 12 months or less. Products available at that stage skew toward receivables, revenue-linked and transaction-data-based structures rather than conventional term debt.
What do lenders want instead of trading history?
Usually transaction data at higher resolution: bank account feeds, payment processor records, or e-commerce platform sales. Consistency and verifiability over a short window can substitute for length of record, which is why clean data materially improves the terms available to a young business.
Is a personal guarantee normally required?
For early-stage businesses it is common, because there is little operating history for a provider to underwrite against. A personal guarantee is a material commitment and its scope, duration, and enforcement terms should be reviewed with a qualified adviser before signing.
Does Caplift lend or receive a fee for these listings?
No. Caplift Financial Inc. is software and is not a lender. Providers are compared from published information, inclusion is not an endorsement or a recommendation, and appearing on this page does not indicate a commercial relationship with Caplift.
About this data, and its limits
- Figures are drawn from Caplift's Q1 2026 lender catalogue review and are indicative, not quotes. Curated from named Canadian lenders; confirm individual terms before relying on them.
- 24 providers match this filter across 4 product types. Providers that publish no cost, and those that publish no criterion relevant to this filter, are not shown — absence here is not evidence about a provider either way.
- Inclusion is not an endorsement, a recommendation, or an offer, and does not indicate a commercial relationship with Caplift. Pricing and criteria change without notice — confirm current terms directly with the provider before relying on them.
- Caplift compiles this information to the best of its ability from publicly available provider material, but does not guarantee that it is accurate, complete, or current, and accepts no liability for decisions made in reliance on it. Figures may be out of date or incorrect. Verify anything you intend to act on directly with the provider.
- Caplift Financial Inc. is not a lender and does not approve, originate, or guarantee financing. Nothing on this page is legal, financial, tax, accounting, or investment advice, and it should not be treated as a substitute for advice from a qualified professional who knows your circumstances.