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Lender
Rating by Finanso®
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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.

Merchant Growth

Finanso.Multilogin™

About lender

Merchant Growth is a Canadian financial company that provides fast, accessible, and friendly loan alternatives for small businesses in Canada. It is located in Vancouver. Merchant Growth is a part of the Canadian Lenders Association. Founded in 2009, it has invested over 350 million dollars in over 5,000 businesses.

Features

Merchant Growth is a company that provides merchant solutions for businesses of all sizes, including an easy-to-use website builder. The company promises quick financing due to the latest technology and customer care. Merchant Growth offers small businesses a convenient 24-hour financing option without hidden fees.

The company pledges to tailor its financial solution to your needs.

Pros and cons

Before applying for a loan in Merchant Growth, it’s worth considering the main advantages and disadvantages of the borrowing process.

Pros

  • Easy online 24/7 application.

  • A wide variety of financing products include fixed loan solutions, e-commerce financing, fixed financing, and line of credit.

  • Fast funds in 24 hours.

  • Amounts ranging from $5,000 to $500,000.

  • Flexible repayment options with automated payment plans.

  • No collateral is required from business owners.

  • An account manager for each business.

Cons

  • Available only to Canadian-based businesses.

  • Only for startups or businesses making more than $10,000 per month.

  • A minimum of six months in operation is required.

Loan conditions

Depending on the client’s needs, Merchant Growth offers three types of financing options:

  • E-commerce Financing

  • Fixed Financing

  • Line of Credit

These options can be used to pay for day-to-day operations, advertising, expansion, or other goals.

  • E-commerce Financing: This financing provides financing amounts from $5,000 to $500,000 in as fast as 24 hours.

  • Fixed Financing: the company forwards cash to the business up-front, and a daily or weekly payment is made automatically to repay the balance. This financial product gives access to up to $500,000.

  • Line of Credit: This financial product provides small business owners with fast cash ranging from $7,500 to $125,000.

There are some Merchant Growth minimum requirements:

  • The client operates a Canadian business

  • the client has reached the age of majority

  • The client’s business has at least six months of operation

  • At least $10,000 monthly revenue

In addition to these requirements for a business, the company requests the following documents and information:

  • Valid Government ID

  • Completed financing application

  • Bank statements

These requirements apply to most companies’ financing products.

The application process is simple: the client lands on the company’s website, gets their identity and banking information verified, and waits until the company gives a link with a Loan Agreement contract to the client’s email. The company provides businesses with flexible payment options to complete business needs. There are no hidden fees; no collateral is needed.

The loan term: from 6 to 18 months.

Merchant Growth describes its interest rates as favorable but does not specify the numbers. According to alternative sources, the interest rates can be up to 13.92%.

Methods of loan funding

The funds can be received in just 24 hours after loan approval. Funds are delivered to the clients’ bank accounts via electronic fund transfer.

FAQ

What is Merchant Growth?

Merchant Growth is a Canadian financial company that provides fast, accessible, and friendly loan alternatives for small businesses. The company offers small businesses a convenient 24-hour financing option without hidden fees.

Who owns Merchant Growth?

David Gens is the founder and CEO of Merchant Growth. 

How do you qualify for Merchant Growth?

Their main company’s requirements include the approval of the fact that:

  • The client operates a Canadian business

  • the client has reached the age of majority

  • The client’s business has at least six months of operation

  • At least $10,000 monthly revenue

These requirements apply to the range of financing options the company provides.

How much can you borrow from Merchant Growth?

The clients can borrow up to $500,000 in e-commerce financing and fixed financing and up to $125,000 within a line of credit in as fast as 24 hours.

Is it a legitimate company?

Merchant Growth is a part of the Canadian Lenders Association. It is a non-profit organization that has been operating for over 35 years. The company’s legal name is Merchant Growth Ltd. Licence RSN: 3638448. License number: 20-131641.

What does the application process look like?

The application process is simple and fast within three steps:

  1. First, complete the application online or on the phone.

  2. Review the options. A financing advisor will determine the best solution for each client.

  3. Get the funds. Receiving the funds into the business bank account in as fast as 24 hours.

Our innovative approach blends thoughtful customer care, complete transparency, and the latest technology to provide fast accessible financing to small businesses in Canada.

© Merchant Growth

Calculate loan payments at Merchant Growth

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

Merchant Growth calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 24.09.2022
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What to pay attention to when applying for a loan from Merchant Growth

  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 Merchant Growth 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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