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2M7 Merchant Cash Advance
APR Range
Loan Amount
$10,000 - $250,000
Loan Term
3 - 6 months
Minimum Revenue
Minimum Time in Business
90 days
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Our verdict

2M7 provides up to 125% of your average monthly sales in a Merchant Cash Advance that you’ll repay incrementally based on your daily sales transactions.

The 2M7 Merchant Cash Advance is a worthwhile option if you're a business owner who needs cash quickly and can pay it back relatively fast. All you need to do is fill out a basic online application, including details about your company and its monthly income, and you'll be contacted by 2M7 for next steps on your advance. Funds can sometimes be deposited into your business account within hours.

To be eligible for a 2M7 Merchant Cash Advance, your business must be located in Canada, excluding Quebec, operational for a minimum of 90 days, without any open bankruptcies, and accepting credit and debit cards with a minimum of $10,000 in monthly revenue.

Best for: Businesses without long operational histories or that have trouble being approved for conventional business loans


  • Fast funding
  • Offers cash advances of up to 125% of your average monthly sales
  • Soft credit check in most cases
  • Repayment amount fluctuates based on your sales


  • Won't help build up your credit score
  • Unavailable in Quebec

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is 2M7 Financial Solutions?

2M7 Financial Solutions is a business lender that offers Merchant Cash Advances as an alternative to traditional business loans. It operates across all of Canada (excluding Québec). 2M7 specializes in helping businesses that can’t get standard business loans receive cash before actually earning it.

2M7 assesses you against your anticipated future credit and debit card sales, and is a good option for businesses that haven’t been in operation for very long. It focuses less on your credit history and instead emphasizes your company’s future sales.

How do I qualify for a 2M7 Merchant Cash Advance?

To qualify for standard 2M7 Financial Solutions funding, your business needs to meet the following minimum requirements:

  • Operational for a minimum of 90 days
  • Accept credit and debit cards (minimum of $10,000/month)
  • Be located in Canada, excluding Quebec
  • Have no bankruptcies (personal or commercial)

What makes 2M7 Financial Solutions unique?

The goal of 2M7 Financial Solutions is to help small- and medium-sized businesses in Canada get access to financing even if they don’t qualify for traditional business loans. It was founded in 2008 and is headquartered in Toronto, Ontario. The company has an application approval rate of 97%.

The 2M7 Merchant Cash Advance isn’t a loan – instead, it’s an advance of funds based on your business’s prospective sales. That flexibility allows 2M7 to work with bad credit borrowers and advance funds without requiring collateral.

The approval process for a 2M7 Merchant Cash Advance is much quicker than a business loan, too. In some cases, a business owner can have their advance deposited by the end of the same business day in which they apply or up to 2 business days later.

The 2M7 Financial Solutions repayment plan is much more flexible as well. Instead of set monthly payments, an agreed-upon percentage of daily sales is collected to pay back your advance.

What are the benefits of a 2M7 Financial Solutions advance?

  • Easy, secure online application with quick turnaround. After filling out the application form online, you’ll receive a free quote. Funds are typically available to you on the same day you request them and approvals take roughly 4 to 6 hours.
  • Loans provided with no bad credit or no credit. 2M7 typically only does a soft credit check and does not require collateral of any kind in order to get started.
  • Sizeable loan amounts. The amount for your cash advance is based on your typical monthly sales. You can take out a cash advance of up to 125% of your typical monthly earnings, anywhere from $10,000 to $250,000.
  • High approval rates. 2M7 Financial Solutions has a 97% approval rate for Merchant Cash Advance applicants.
  • Does not register on your credit file. The cash advance doesn’t affect either your personal and commercial credit histories.
  • Flexible payments. Your payback schedule is based on your business’s cash flow. Unlike a conventional loan that requires you to make set repayments each month, your 2M7 cash advance repayments fluctuate based on your sales.
  • No hidden fees or interest charges. Other than a one-time factor rate charge, you won’t pay any interest on your advance.
  • No restrictions on use of funds. Businesses can use their 2M7 Financial Solutions Merchant Cash Advance without any restrictions. Most use the funds to increase cash flow; buy, repair or upgrade equipment; stock up on inventory; expand or redesign their facilities; or hire new staff to grow the business.
  • National reach. 2M7 provides the Merchant Cash Advance to businesses Canada-wide, excluding Quebec.

What to watch out for

  • MCAs don’t help you build credit. Because the Merchant Cash Advance isn’t a loan, you won’t build a better credit history for your business. If this is a priority, you may want to look into other options.
  • High factor rate. If the factor rate is high on your cash advance, your 2M7 Financial Solutions advance could end up costing your business more than a traditional business loan might, especially over the long term.
  • No access in Quebec. 2M7 offers the Merchant Cash Advance to businesses Canada-wide, excluding Quebec.

Compare other business loans

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Journey Capital Business Loan
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To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000.

Journey Capital offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.
Merchant Growth Business Loan
12.99% – 39.99%
$5,000 – $800,000
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To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales.

Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.
Loans Canada Business Loan
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over $10,000/month
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Unsecured Term
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.

How do I apply with 2M7 Financial Solutions?

If you want to apply for a Merchant Cash Advance from 2M7 Financial Solutions, follow these steps:

  1. Click the green ‘Go to site’ button above to be securely redirected to 2M7 Financial Solutions' online application.
  2. Enter your personal information, including your full name, email and phone number.
  3. Enter your company name, how long it’s been in business, the types of payments you accept and your company’s monthly business revenue.
  4. Provide all required documents, including a government-issued photo ID, merchant ID number, recent bank statements, a void cheque and your business bank account information.
  5. Once you submit the application, you’ll be contacted by 2M7 for next steps on getting approved.

What documents do I need to apply?

To be eligible for a 2M7 Merchant Cash Advance, you as the applicant will need to provide:

  • A government-issued photo ID
  • Your merchant ID number
  • Recent bank statements
  • A void cheque
  • A business bank account where your cash advance will be deposited

How much does a 2M7 Financial Solutions advance cost?

2M7 Financial Solutions doesn’t charge an interest rate for your Merchant Cash Advance. Instead, you’ll pay a one-time cost – or “factor rate” – based on the value of sales you might have in the future.

The factor rate will typically fall between 1.18 and 1.48. Your cash advance amount is multiplied by your given factor rate to determine the total amount you need to pay back. For example, if you’re given $25,000 at a factor rate of 1.30, you’ll need to repay a total of $32,500 ($25,000 x 1.30).

Your 2M7 Financial Solutions factor rate is pulled together based on a number of factors, including your industry, your business’s location, years in business, number of employees and cash advance amount.

2M7 says it uses proprietary software to create a credit score for your business to set the factor rate for you. The longer 2M7 works with your business, the more funding it will be able to provide and at a lower factor rate.

Aside from the factor rate fee, there are no other costs for the cash advance and application process.

I got the cash advance from 2M7 Financial Solutions. Now what?

Once your application is approved, 2M7 Financial Solutions will deposit your Merchant Cash Advance directly into your bank account. They’ll connect directly with your payment processor to set up your repayments – 2M7 works with most major payment processors in Canada.

2M7 sets up an automated repayment plan so that each day a small percentage of your sales are withdrawn and put towards repaying your loan until the full amount is paid back. You can monitor and manage your repayments online through your 2M7 account.

The percentage that’s withdrawn is called the “withholding percentage” and ranges from 4.00% – 30.00% of your daily sales. That way, 2M7 Financial Solutions only gets paid when you get paid.

You’ll work with 2M7 to decide on your withholding rate. The withholding percentage varies depending on factors like the amount of your cash advance, your typical daily credit and debit card sales, the industry you work in and the size of your company.

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