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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.



About lender

Nuula is a platform providing business owners with instant access to critical business metrics and capital. It is a mobile app that enables entrepreneurs to monitor everything that matters to their business in one place and access various financing solutions. With this app, you as a business owner will know immediately what to focus on and won’t miss an issue that requires your action.

Founded in 2021 in Toronto, Ontario, Nuula is on a mission to revolutionize how small businesses access the tools, capital, and content they need to succeed. The key values of Nuula’s team are passion, simplicity, and empowerment.


With the Nuula app, you can track a range of important metrics that matter to your business:

  • Your cash flow

  • Financial metrics from your cloud accounting platform

  • Your e-commerce store’s performance

  • Customer reviews

  • Personal and business credit

In addition, the Nuula app allows business owners to apply for various financial products offered by a network of partners:

  • Simple Life Insurance plus wellness from Walnut

  • Term loans from Mulligan Funding

  • Loans for sole proprietors from 30+ lenders

  • Term Life Insurance offers

Besides, the following integrations are coming soon:

  • Cyber insurance

  • Line of credit

  • Private wealth management

Pros and cons

Here are the pros of using the Nuula app:

  • The information about meaningful business-related metrics is easily accessible and transparent

  • Securing financing for your business is quick and accessible through the Nuula app

  • New functional features are coming soon – cyber insurance, line of credit, and private wealth management

The convenient monitoring of everything that matters to your business and easy access to financing options are definite advantages of Nuula. As for the disadvantages:

  • The project is still under development, and not all functionality is available yet.

Loan conditions

Currently, you can apply for the following two financial products through the Nuula app:

  • Term loans

  • Personalized loans

Nuula’s team hasn’t started accepting applications for a line of credit yet. But, according to the website, this feature is coming soon. So, to stay tuned, you can join the line of credit waitlist within the app.

Loan conditions are different for term loans, personal loans, and a line of credit.

Term loans

Nuula’s team partners with Mulligan Funding to provide term loans to their users. You can apply for a loan right from the Nuula app. Upon approval, you will receive your funds to your business bank account within 24 business hours. The processing time may differ for applications submitted outside regular business hours (Monday-Friday, 9 AM – 5 PM PT).

The maximum amount you can borrow with a term loan is $2M. Nuula’s website doesn’t provide information about this financial product's interest rates and terms.

Personal loans

Instead of applying for a business loan, you can opt for a personal loan as it is easier to qualify for. Labeled in the Nuula app as “Loans for Sole Proprietors,” these loans are available to sole proprietors, freelancers, and early-stage businesses.

According to Nuula’s website, there are no stringent requirements around entity type, time in business, and business revenue with this type of loan. With a personal loan, you can count on the financing amount of $5k-$50k.

There is no information on the website on interest rates and terms of personal loans. Since Nuula partners with 30+ lenders on personal loans, you’ll need to check loan conditions with each lender individually.

Line of credit

Once available, a line of credit represents “cash in the cloud” available when needed. You will be able to apply for it right from the Nuula app. Upon getting approval, you can start withdrawing funds whenever you need them. Then, receive the funds directly to your linked business bank account.

Using a line of credit will cost you $1/day per $1,000 borrowed. Pay off your credit with the payments automatically debited from your bank account every Wednesday.

Within the Nuula app, you can set up the amount you want to pay back weekly. Your available credit line will recover as you pay off your balance. In addition, lump sum payments or early repayment will be penalty-free.

Methods of loan funding

To start getting funding through the Nuula app, you will need to link your business bank account to your user profile. Then, once you get loan approval, you can get the funds directly to the connected bank account.


What is Nuula?

Nuula is a platform designed to provide business owners instant access to critical business metrics and capital.

Who owns Nuula?

Business Financial Services, Inc. is doing business as Nuula. The CEO of Nuula is Mark Ruddock.

How do you qualify for Nuula?

Here are the minimum eligibility requirements to apply for a term loan from Mulligan Funding:

  • Monthly average revenue of $10k or yearly income of $120k

  • Minimum six months in business

  • A minimum credit score of 600

Applying for a personal loan doesn’t involve entity type, time in business, or revenue requirements. To qualify for this type of loan, you only need a personal credit score of 580-800.

There are no eligibility requirements for a line of credit (or “cash in the cloud”).

How much can you borrow from Nuula?

Nuula partners with different financing solutions providers, so the amount to borrow will be different for each financial product.

With a term loan, you can borrow up to $2M. With personal loans, the financing amount is $5k-$50k.

Is Nuula a legitimate company?

The legal name of the company doing business as Nuula is Business Financial Services Inc. Nuula’s head office is at 150 King St W Suite 303, Toronto, ON M5H 1J9, Canada. 

The company has provided Terms of use and Privacy policy for both the US and Canada on the Nuula website.

Company documents

Terms of use
Privacy Policy
Do not sell my personal information

We’re on a mission to help small businesses succeed.

© Business Financial Services, Inc. Dba Nuula

Calculate loan payments in Nuula

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

  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 Nuula 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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