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Frequently Asked Questions

Term Loan: What is a Term Loan?

A term loan is a small business loan where business owners will make daily fixed payments within an agreed upon a term (6 or 9 months) without accruing interest.

Term Loan: How much does it cost to apply with Kingsmen Capital?

Absolutely nothing. There is no fee to apply, and no strings attached.

Term Loan: How do I get approved for a Term Loan?

To be approved for a Term Loan with Kingsmen Capital, you must be in business for at least one year, have $100,000 in sales annually, must be in Canada, and not be internet based.

Term Loan: What if I have poor credit? Can I still apply with Kingsmen Capital?

Yes! Poor credit is not a problem, as long as you do not have an open bankruptcy.

Term Loan: How long does it take to apply and get approved?

The application process is quick and easy. The entire process from start to finish, from the moment you apply until the funds are in your bank account, takes less than 10 days.

Term Loan: How do I make my payments to Kingsmen Capital?

Repayment is easy. Kingsmen Capital will withdraw the small, fixed payment we agree upon from your bank account daily. You don’t have to worry about large, monthly payments.

Term Loan: Do I need a special bank account?

No, you can use your current bank account as Kingsmen Capital will work with all banks.

Term Loan: How much funding does my business qualify for?

Your business may qualify for a term loan up to $500,000.

Term Loan: Can I pay off my Term Loan early?

Yes, with Kingsmen Capital t your Term Loan is open and you can pay it off without penalties at any time.

Term Loan: Can I apply for multiple Term Loans?

Yes, you can apply for a second Term Loan once the initial loan is paid in full.

Term Loan: What is the interest rate on a Kingsmen CapitalTerm Loan?

Kingsmen Capital does not charge interest on Term Loans, we add a flat fee to the loan amount, determined by current credit and other factors.

Term Loan: Is Kingsmen Capital a Canadian company?

Yes, Kingsmen Capital is proudly Canadian.

Term Loan: How long has Kingsmen Capital been in business?

We’ve been proudly helping Canadian businesses like yours grow since 2015.

MCA Loan: Are there any fees for applying or getting a Merchant Cash Advance?

There are absolutely no application fees, closing cost or hidden cost.

MCA Loan: What is a Merchant Cash Advance?

A Merchant Cash Advance is not a loan but a purchase of future credit card receivables, better know as receivable factoring.

MCA Loan: How does a Merchant Cash Advance work?

A Merchant Cash Advance focuses on the average monthly credit card processing volume for Visa and MasterCard. Using this monthly average along with other general inquires we advance cash to merchants based on future Visa and MasterCard sales. Merchants receive a lump sum amount in return for a percentage for their future Visa and MasterCard sales.

MCA Loan: What information is used to evaluate if I qualify?

We look at your average monthly Visa and MasterCard processing sales over a selected period, along with a credit report review, longevity of the business and if there are any UCC liens on the business.

MCA Loan: How long does the process take?

Pre-approval usually takes 24 hours from the date of application. The funding takes approximately 48 to 72 hours from the date of application.

MCA Loan: How much can I expect to receive?

We make cash advances from $5,000 to $500,000+. Depending on your Visa and MasterCard sales, you could receive up to 100% of your processing volume.

MCA Loan: How do I make payments on the Merchant Cash Advance?

We reserve a percentage of your daily Visa and MasterCard sales and place them aside for repayment.

MCA Loan: How much of my daily Visa and MasterCard sales will be deducted to repay the Merchant Cash Advance?

The percentage we reserve varies depending on the results of our underwriting. Keep in mind our Merchant Cash Advance program offers the lowest offer rates in the industry.