5 Clearco Alternatives in Canada

Clearco offers revenue-based funding for e-commerce businesses in Canada. It’s an option worth considering if you need extra funds to help grow your business, but it’s far from the only choice available. Keep reading to compare five Clearco alternatives in Canada and find the right financing for your business.

5 Clearco alternatives

1. Advance Funds Network

9 Excellent

Go to site

$5,000 – $1,000,000
Loan amount

Starting at 8%
APR

3 - 24 months
Term

• Key Facts
• Pros + Cons
• Details

Advance Funds Network has been offering fast financing options to Canadian and US businesses since 2008. It offers several types of financing, including term loans, lines of credit, equipment financing and, like Clearco, merchant cash advances. It only takes seconds to pre-qualify for funding online, and you can also get approved and funded the same day. Best of all, you get the peace of mind of dealing with a lender that is Better Business Bureau accredited with an A+ rating and has earned plenty of five-star customer reviews. Full Review

• Same-day funding
• Choose from multiple business financing options
• Fast online pre-approval
• No minimum credit score requirement on some types of financing
• 5/5 stars based on 1,500+ Trustpilot reviews

• High annual revenue requirement of at least $240,000
• Not suitable for startups

APR	Starting at 8.00%
Loan Amount	$5,000 - $1,000,000
Loan Term	3 - 24 months
Loans Offered	Unsecured Term Secured Term Line of credit Merchant cash advance Equipment financing
Min. Credit Score	500
Turnaround Time	As fast as 4 hours
Serviced Provinces/Territories	Canada-wide
Requirements	minimum of 6 months in business with an annual revenue of at least $240,000

2. Loans Canada

9.1 Excellent

Go to site

$500 – $500,000
Loan amount

9.99% – 35%
APR

4 - 60 months
Term

• Key Facts
• Pros + Cons
• Details

Unlike Clearco, which is a direct lender, Loans Canada is a loan search platform where you can compare financing offers from a network of business lenders. Just fill out a single application to be matched with partner lenders that are willing to finance your business. You can access a wide variety of financing options through the platform, from term loans and lines of credit to merchant cash advances and invoice factoring, and Loans Canada is free to use. Check it out if you're searching for a quick and easy way to compare business financing offers before choosing. Full Review

• Fill out a single application to compare multiple lenders
• Wide range of financing types available
• Free platform
• Better Business Bureau accredited with an A+ rating

• Not a direct lender
• High rates for bad credit
• You're limited to loans from Loans Canada's network of lenders

APR	9.99% - 35.00%
Loan Amount	$500 - $500,000
Loan Term	4 - 60 months
Loans Offered	Unsecured Term
Min. Credit Score	410
Turnaround Time	48 Hours
Serviced Provinces/Territories	All provinces
Requirements	- Operating for at least 9 months - Operating Canadian Business Bank Account - Over $10,000 in monthly sales ($120,000/year)

3. Merchant Growth

8.9 Great

Go to site

$5,000 – $800,000
Loan amount

12.99% – 39.99%
APR

6 – 24 months
Term

• Key Facts
• Pros + Cons
• Details

Merchant Growth is an alternative small business lender that offers term financing for up to 24 months, lines of credit and Buy Now, Pay Later solutions for businesses. Just like Clearco, it takes five minutes to apply online, and if approved, you'll get the funds within 24 hours. Lines of credit of up to $125,000 are available, while term financing amounts top out at $800,000. You also get the security of dealing with a lender that is Better Business Bureau accredited and has an A+ rating. Full Review

• Get funding of up to $800,000
• Apply online in 5 minutes
• Get funded within 24 hours
• Choose a term loan or line of credit
• 4.8/5 stars based on 630 Trustpilot reviews

• $10,000 minimum monthly revenue requirement
• Must have been in business for at least 6 months
• Potentially high APRs

APR	12.99% – 39.99%
Loan Amount	$5,000 – $800,000
Loan Term	6 – 24 months
Loans Offered	Unsecured Term Line of credit Merchant cash advance
Min. Credit Score	550
Turnaround Time	24 hours
Serviced Provinces/Territories	All of Canada
Requirements	- Operating for at least 6 months - Canadian based business - 550+ credit score - $10,000 in monthly sales

4. Journey Capital

9.5 Excellent

Go to site

$10,000 – $500,000
Loan amount

16% – 25%
APR

4 - 24 months
Term

• Key Facts
• Pros + Cons
• Details

Formerly known as OnDeck Canada, Journey Capital is a small business lender that offers a choice of three credit products. You can apply for a fixed-term loan, a flexible line of credit or a merchant cash advance. Financing amounts of up to $500,000 are available, and you can apply online in around 10 minutes without it impacting your credit score. If you're approved, you can get your funds in as little as 24 hours, which is the same fast funding time as Clearco. Full Review

• Single online application for three credit products
• Plenty of positive customer reviews
• Get funded in as little as 24 hours
• Apply without it affecting your credit score
• 4.9/5 stars based on 110 Trustpilot reviews

• Bad credit is not OK
• $100,000 annual revenue requirement
• Must have been in business for at least 6 months

APR	16% – 25%
Loan Amount	$10,000 - $500,000
Loan Term	4 - 24 months
Loans Offered	Secured Term Line of credit Merchant cash advance
Min. Credit Score	600
Turnaround Time	in as little as 24 hours
Serviced Provinces/Territories	All provinces and territories
Requirements	- 6 months in business - Minimum $100,000 annual gross revenue - 600+ credit score

5. Accord Financial

8.5 Great

$500,000 – $20,000,000
Loan amount

Undisclosed
APR

Up to 5 years
Term

• Key Facts
• Pros + Cons
• Details

Accord Financial is a publicly traded company with more than 45 years of experience in the business lending industry. It offers a wide range of financing solutions for Canadian businesses, including small business loans, equipment financing, inventory financing, invoice factoring and more. You can apply for funding in around 10 to 15 minutes, and Accord Financial generally makes funding decisions within three business days of receiving all your paperwork. Full Review

• Established in 1978
• Get funded as soon as the next day
• Wide range of financing options available
• Better Business Bureau accredited with an A+ rating

• High revenue and credit score requirements
• Startups aren't eligible.

APR	Undisclosed
Loan Amount	$500,000 - $20 million
Loan Term	Up to 5 years
Loans Offered	Unsecured Term Invoice factoring Invoice financing Equipment financing
Turnaround Time	24 - 48 hours
Serviced Provinces/Territories	Ontario, Québec, British Columbia
Requirements	Located in Canada Be operating for more than 2 years Be stable and/or growing Have annual sales over $100,000 Make regular deposits into your business bank account Have average or better credit profile

How does Clearco compare?

How does Clearco stack up against the competition? Check out the pros and cons to find out, or read our full Clearco review for a detailed breakdown.

What do Clearco reviews say?

Online reviews for Clearco are generally fairly positive. Customers who have given positive reviews mention factors such as an easy application process, fast access to funds and helpful customer service. Negative reviewers mention issues such as poor customer service and the high cost of borrowing.

*Reviews as of October 28, 2025

How to choose the best business financing for your needs

Need some extra capital for your business? Here’s how to find financing that suits your needs.

Step 1: Assess your funding needs

Start by developing a clear idea of what your business requires. Ask yourself questions like:

• How much do I need to borrow?
• How will the funds be used?
• Do I need a one-off lump sum or ongoing access to funds when needed?
• How much can I comfortably afford to repay?
• Am I willing to give up equity in my business, or would debt financing be a better option?
• Do I have an asset I can use as collateral?

Once you understand your financing needs inside out, you can start comparing your options.

Step 2: Compare different types of financing

Do you need a lump sum of funds and the regular repayments of a term loan? How about the flexible access to funds of a revolving line of credit? Or maybe you need funds to help you purchase essential business equipment?

Whatever the case may be, there are many types of business financing designed to suit a variety of purposes. Check out our guide to business loans in Canada for details on your financing options and which one is right for your situation.

Step 3: Compare lenders and loans

Now it’s time to compare individual lenders and the loans they offer. Here’s what you need to consider when weighing up your options.

• Interest rates and fees. Check how interest rates compare between lenders. You can choose between a fixed or a variable rate, but the rate you get will vary depending on factors like your credit score, revenue, time in business and the type of loan. Check the annual percentage rate (APR) when comparing loans, as this factors in extra costs like the origination fee. It’s also a good idea to check the fine print for any other fees not included in the APR (such as late payment fees).
• Secured or unsecured. Providing an asset as collateral can boost your chances of approval and help you qualify for a larger loan amount and a lower interest rate. However, it also means you risk losing the asset if you can’t repay the loan.
• Repayment period. Check how long you will have to repay the money you borrow. A longer loan term ensures that your regular payment amount will be easier to manage, but it also means you’ll end up paying more interest.
• Repayment schedule and flexibility. Can the financing repayment schedule be tailored to suit your business’s cash flow requirements? It’s also worth checking whether you can pay the loan back early without penalty.
• Lender reputation. Check if the lender is registered as a business in Canada, and read reviews on independent sites like Trustpilot to find out what experiences other business owners have had with the lender.
• Eligibility requirements. You’ll also need to check what criteria you’ll need to meet to qualify for a loan. Most lenders have minimum revenue and time-in-business requirements, so check the terms and conditions before you apply.

Bottom line

Looking for Clearco alternatives that offer business financing in Canada? There are plenty of legit options to choose from. Compare a range of lenders like Clearco to find financing that suits your business’s needs and budget.

Frequently asked questions

• Is Clearco a legitimate company?

  Yes, Clearco is a legit business financing provider. It was founded in 2015 and is headquartered in Toronto. It is also listed in the Ontario Business Registry.

• What documents do I need to apply for business financing?

  The exact paperwork you need to provide varies depending on the lender. As a general guide, you will usually need to provide business bank statements, revenue statements, balance sheets, prior business tax returns, financial projections and your business plan. You will also need to provide documentation surrounding your ownership of assets you want to use as collateral. Learn more about what documents you need in our guide to business loan requirements.

• How long does it take to get a business loan?

  The time it takes for your business loan to be approved and funded varies between lenders. Online lenders can often process your application and fund your loan in as little as 24 to 48 hours, but you'll generally need to allow several business days or more if you apply with a bank.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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