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Rating by Finanso®

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About lender

Capital is a Canadian-based company that provides small businesses with lending solutions. The company was founded in 2007 to help business owners make their companies grow and develop and let them avoid the lengthy paperwork at traditional banks. It handles clients' money through a Schedule 1 Canadian chartered bank, DC Bank.

iCapital offers several loan solutions to small businesses operating in various industries. The company has a pretty high approval rate. Secured business loans, business term loans, lines of credit, merchant cash advance, and small business loans are offered. The conditions of these options are different so that everyone can find something suitable for their business.

Usually, the borrowed money can be received by customers within a few days.


First, iCapital is not a broker but a lender that provides its own money. That is why it is able to approve applications rapidly.

The company doesn’t offer personal loans; it deals only with business owners and provides them with lending solutions such as secured business loans, business term loans, lines of credit, merchant cash advances, and small business loans. These products are provided for different terms with different rates so clients can choose the option that fits their business the best.

Also, it is essential to note that iCapital does not cooperate with other lenders; it has only partnered with DC Bank. DC Bank is regulated by the Office of the Superintendent of Financial Institutions and is a Canadian Deposit Insurance Corporation member.

iCapital operates in various industries such as restaurants, SPAs, transportation, retail, and grocers. Moreover, the company has no restrictions on how to use the borrowed money. Its customers are free to choose the purpose of the loan. However, it must be used to make their businesses grow. Some of the company's loan solutions, such as business term loans, do not have interest rates.

Pros and cons

However, this company has several pros and cons that may be very important for customers.


  • iCapital offers solutions for business owners - a motor of any economy;

  • The company provides several loan options;

  • Some of the loan options provided by the company don’t imply an interest rate;

  • iCapital operates in different industries;

  • The application and approval are very quick as the company is not a broker;

  • iCapital imposes no restrictions on how to use the funds it lends;

  • Most of their loan options have flexible repayment terms;

  • The application is 100% digital and free;

  • Even customers with bad credit can apply.


  • The company’s website doesn’t contain sufficient information; for example, the line of credit terms are not specified;

  • Loan conditions are pretty strict. For example, the customer’s business must have annual revenue of $100,000 or more in the last 12 months;

  • Clients can apply for the second merchant cash advance before they have more than 65% of the previous one repaid;

  • No start-ups and online businesses are approved.

Fortunately, iCapital has some crucial advantages. The company imposes no restrictions on borrowed money usage. Also, as they do not work with other lenders, the approval doesn’t take much time.

On the other hand, there are some significant disadvantages. They work only with business owners, so many different clients will not be attracted. What is more, they do not cooperate with start-ups and online businesses.

Loan conditions

If a customer wants to apply for one of the company’s loan options, they need to fill out the application form on the website. It is entirely free and can be done online. In addition, they need to mention some information about their business and themselves. After the account verification, they will be connected with the company's operator to discuss the required loan option.

As iCapital offers several loan options, they have different loan conditions. However, there are some basic requirements that customers must fit in. For example, a client must be 18 years old and a Canadian citizen to be approved. Their business must also be active for at least six months; have annual revenue of $100,000; have a storefront or professional office space; no start-ups, construction, home businesses, online businesses, funeral homes, furniture or jewelry stores, cheque cashing businesses are approved. In addition, no open bankruptcies.

Loan conditions are different for their loan options. For example, business term loans don't have an accumulated interest rate. Instead, it is a microcredit for 3, 6, 9, or 12 months. The maximum amount to borrow is $250,000.

A secured loan’s interests start at 9.99%. iCapital promises better term lengths than you'll get with a second mortgage or another type of loan.

A merchant cash advance allows you to borrow up to $250,000. It is a lump sum that you repay through a set percentage of your daily credit card and debit sales.

A small business loan is capped at $250,000.

iCapital will withdraw the agreed-upon fixed payment from your business bank account.

Methods of loan funding

When customers are done with the application, have chosen the most suitable option, and are ready to cooperate with this company, the borrowed amount will be transferred by direct deposit.


What is iCapital?

iCapital is a Canadian company dealing with business owners. It is based in Toronto. They provide entrepreneurs and business people with loans to grow and develop their businesses. The company has several loan options and operates in many different industries that can be attractive for many customers. 

Who owns iCapital?

Open sources do not reveal any information on iCapital’s ownership.

How do you qualify for iCapital?

The company has several basic requirements for all clients eager to apply: one must be older than 18, be a Canadian citizen, and have no open bankruptcies. In addition, their business must be active for at least six months; have annual revenue of $100,000 or more; have a storefront or professional office space, and must not be start-ups, construction, home businesses, online businesses, funeral homes, furniture, or jewelry stores and cheque cashing businesses.

How much can you borrow from iCapital?

The borrowable amounts can differ for various iCapital loan options, but usually, customers can take from $5,000 to $250,000.

Is it a legitimate company?

iCapital is a legitimate company. Its legal address is 91 Skyway Ave - Suite 103 Toronto, Ontario M9W 6R5.

Company documents

Privacy Policy

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© iCapital

Calculate loan payments at iCapital

With iCapital calculator you can calculate an approximate payment schedule for the loan

iCapital calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 25.09.2022
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What to pay attention to when applying for a loan from iCapital

  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 iCapital 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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