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Greenbox Capital Business Loans review

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Greenbox Capital Business Loans
Loan Amount
$3,000 - $500,000
Loan Term
3 to 12 months
Minimum Revenue
$7,500
Minimum Time in Business
6 months
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Our verdict

Greenbox Capital is a Miami-based company that also provides business loans of up to $500,000 to business owners in Canada.
Greenbox Capital Business Loans are an option for those looking to collect capital quickly and easily, but also know they're able to make regular payments. Greenbox Capital can provide funds to many types of businesses ranging from restaurants to dental care.

Payments are usually required daily from borrowers, so ensuring you are able to make those payments is essential to avoid additional fees. The loan terms are also relatively short, maxing out at 1 year. The standout feature of this company is its turnaround time since you will be in contact with one of its representatives within an hour of submitting your application, and if approved, you could see funds in your account within 24 hours.

Pros

  • Bad credit is okay
  • Fast funding

Cons

  • Short loan terms
  • High interest rates

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Do I qualify?

The qualifications for Greenbox Capital Business Loans include the following:

  • Be a Canadian business outside of Saskatchewan
  • Have more than $7,500 in monthly revenue
  • Be in operation for at least 6 months

If you meet these 3 criteria, you may qualify for Greenbox Capital Business Loans.

What types of business loans does Greenbox Capital provide?

Greenbox Capital offers merchant cash advances, small business loans, invoice factoring, collateral loans and business lines of credit. Loan terms last between 3 to 12 months.

Many industries, such as construction, restaurants, medicine and retailers, can apply with Greenbox Capital, and you have flexibility in how you spend your funds for your business.

After submitting your application, an advisor will be in contact with you to help decide which option is best for your business.

Compare other business loans

1 - 3 of 3
Name Product APR Range Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered Broker Compliance
Journey Capital Business Loan
8.00% – 29.00%
$5,000 - $300,000
6 - 18 months
$100,000/year
6+ months
Term Loan, Line of Credit, Merchant Cash Advance
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
6 - 24 months
$10,000 /month
6 months
Unsecured Term, Line of Credit, Merchant Cash Advance
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
6.60% - 29.00%
$4,000 - $500,000
3 - 60 months
over $10,000/month
100 days
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.
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What are the benefits of Greenbox Capital Business Loans?

Greenbox Capital is lenient when it comes to business owner’s credit scores as long as the business itself has a decent score when applying for a loan.
  • Good option for owners with bad credit. Business owners with bad credit still have a chance of being approved.
  • Fast contact after applying. After applying, a representative from Greenbox Capital will contact you within an hour (provided you apply within business hours).
  • Money added to your account within a day. Funds can arrive in your account within 1 business day.

What to watch out for

  • Nothing longer than 1 year. There are no term options that extend past 12 months.
  • Daily payments. You may be required to make daily payments, even on loans for as long as 5 months.
  • High interest rates. Interest rates go up depending on the size of the loan.

How do I apply?

As long as you’re outside of Saskatchewan, have been operating for at least 6 months and have more than $7,500 in monthly revenue, you can apply. To apply for Greenbox Capital Business Loans, you can start online and fill out the form on its website.

  1. Fill out the application online with your company and personal details.
  2. Choose the amount of funding you need.
  3. Choose your industry from an extensive list of industries.

After you submit your application, a representative from Greenbox Capital should be in contact with you within the hour.

What documents do I need to apply?

You will need a few documents to complete the application process for Greenbox Capital.

  • Credit card statements from the last 3 months
  • A copy of your driver’s licence
  • Bank statements from the last 3 months

I got a Greenbox Capital loan, now what?

After the funds appear in your account, you can start spending on staff, equipment, renovations or anything else required to keep your business thriving. Payments are usually required daily for Greenbox Capital Business Loans, and setting up an automatic payment may be a good option to ensure you don’t have late fees. Just be sure you have enough in your account to cover the loan payments.

If you need to contact an advisor for anything after your initial call after applying, they’re available from 9am to 6pm Eastern Time.

To compare business loan options and decide which is best for you, check out our guide to small business loans.

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