HSBC Bank Canada recently announced a new small business funding program. It will lend $1 billion over the next 18 months to support Canadian small and medium size businesses to assist with international growth. But not all businesses will qualify. To take advantage of funding, firms must have an annual revenue of $3 million to $250 million—revenue that not all Canadian small businesses can claim.
For Canadian small businesses who may not qualify to apply for the HSBC funding due to revenue requirements but who are seeking to expand, Merchant Advance Capital (MAC) offers merchant advances of up to $150,000 in working capital to businesses owners who have a physical storefront and accept debit and credit cards as payment.
Whether a business seeks to increase sales this year with the purchase of new inventory, advertising and marketing, expansion, renovations or is simply in need of emergency cash, MAC offers loans with no personal collateral required.
Give us a call! We’re friendly, can answer all your financing questions and won’t bite.