Kingsmen BCAP | Rates 10% - 18%

Quick Facts

  • Program End Date: December 31, 2021
  • Product: Unsecured Business Loan
  • Processing Time: 5 Business Days
  • Business must have Incorporation Start date on or before: March 1st, 2020
  • Minimum Revenue must be $100,000+ for 2019 and/or 2020 fiscal year.
  • Maximum Capital Infusion: $250,000 or up 35% of annual gross sales.
  • Shareholder(s)/Owner(s) must have a credit score of 600+
  • Term 48 months
    • Payments
      • First 6 months – interest only
      • 42 payments – interest and principal
  • Early repayment option with no penalty
  • Use of funds is restricted to:
    • ongoing scheduled business operating expenses, including: rent, scheduled debt
      servicing payments, general business operating expenses and in some circumstances the purchase of capital assets
    • purchasing inventory
    • working capital

Qualifications

  • Each Shareholder must confirm Average (or better) credit profiles & willingness to provide personal guarantees
  • Business Bank Account
  • Business was negatively impacted by COVID-19
  • Business and/or Personal must have NO judgements or collections filed within the last 4 years.
  • Not Eligible
    • Government organizations
    • Non-profit organizations, registered charities, unions, fraternal benefit societies or orders.
      • Unless the entity is actively carrying on a business in Canada (including a related business in the case of a registered charity) that earns revenue from the regular supply of property/goods or services.

Thanks for your interest in this program.

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