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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Clearco's pay off


Repayment of loan

Repayments are debited from the customer's main business account. All amounts and payment status can be checked in the personal dashboard on the Clearco website after logging into your account.

Repayment dates depend on the product (financing, renewal, etc.) and will be communicated to the customer.

Conditions of loan extension

Clearco enables the extension of payment terms for your business invoices. For example, it allows the extension of payment terms from 30 days to 180 days.

The extension of payment terms is done in several steps:

  • pre-approval;

  • account verification for new users;

  • complete the application and submit it for review;

  • ensure all your sales accounts are linked to the Clearco account approval.

Renewal plans are for 1-6 months, and fees range from 1.5% to 7.5% of the invoice amount. Payments to Clearco begin 30 days after the invoice is paid.

Any request for such service and its cost should be made to Clearco.

Early payoff

For more information on the repayment process, contact Clearco. As a rule, lenders allow early repayment in accordance with general practice.


How do I make payment to Clearco?

Repayments to Clearco are debited from your primary bank account.

If you are interested in other forms of repayment, you should contact the lender and check such a possibility.

Detailed information about your invoices can be found on your online dashboard on the Clearco website.

What happens if you don't pay back to Clearco?

The collection procedure is not described, but according to the legislation, the loan must be repaid. When problems arise, the lender usually tries to help the borrower get back on track and repay the loan; if this fails or the borrower is unwilling to cooperate, the lender has the right to take further legal action. For further details, you should contact the lender to see if they will consider selling debt to third parties, etc.

Can you pay Clearco early?

Clearco offers a flexible repayment plan, where repayment begins on the second day after receiving the financing. At the same time, repayment is linked to your income flow, and there is a fixed fee for credit use without compound interest. 

If you wish to repay early, you should contact the lender and discuss the possibility of earlier billing to close the loan early.

Can Clearco sue you?

Clearco has flexible and friendly financing terms, but since it is a commercial project, the company may use all legal means to recover the borrowed money and its fees.

Calculate loan payments in Clearco

Clearco calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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10000 $
20000000 $
Loan term

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What to pay attention to when applying for a loan from Clearco

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Clearco from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Clearco’s reviews by October 2022
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