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Thinking Capital Business Loan review

Thinking Capital provides loans of up to $300,000 to small- and medium-sized Canadian businesses.

If your business has been in operation for more than 6 months and makes more than $7,000 in revenue each month, you may qualify.

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  • Thinking Capital is best for restaurant, retail, auto or health and beauty shops that need flexible repayment options.
  • If you need a loan of more than $300,000 or do not want payments to be automatically deducted from your account, Thinking Capital is not for you.

Expert review

If you’re a business owner in need of quick cash, Thinking Capital is worth looking into. The private lender has provided more than 16,000 businesses with the funds they’ve needed since 2006. Companies can apply for as much as $300,000. Collateral is not required for some loans.

It has a number of repayment options available ranging from daily to bi-weekly, so you can find a repayment schedule to fit your needs. One major thing to look out for is that the lender requires automatic repayments from your bank account.

The application process is simple and streamlined, taking less than 10 minutes to complete if you’ve already got your information on hand. It only requires basic information before a representative from Thinking Capital contacts you with further details.

Business owners can use this money to pay for staff training, renovations or almost anything else they need done quickly.

How do I qualify for a Thinking Capital Business Loan?

The basic eligibility requirements to qualify include the following:

  • Be a Canadian business
  • Your average sales must be more than $7,000
  • Your business must be at least 6 months old
  • Have a dedicated business bank account

If you meet those qualifications, you can apply on Thinking Capital‘s website.

What makes Thinking Capital unique?

Thinking Capital provides loans to small Canadian businesses that need $5,000 to $300,000. What makes Thinking Capital stand out is its easy application process and flexible criteria.Thinking Capital interest rates start at 8%.

What types of loans does Thinking Capital provide?

Thinking Capital offers loans of $5,000-$300,000 to small Canadian businesses.
  • Business line of credit. The business line of credit is recommended for those looking to buy inventory, pay for marketing, cover their accounts payable or make some new hires. As much as $300,000 is available for borrowers. You can pick from a cash-flow credit, a business-equity line of credit, a standard business line of credit or a business credit card.
  • Small business loans. You can get a business loan for anywhere between $5,000-$300,000 if you are a new customer. Existing customers can get up to $5,000. You’ll get a fixed interest rate on the amount you borrow (starting at 8%), and you’ll need to pay back the total amount of your loan in either 6, 9 or 12 months. You’ll be able to qualify for top-ups once you’ve repaid 35%, 60% and 90% of your financing.

What are Thinking Capital‘s interest rates?

Thinking Capital‘s interest rates start at 8% and move up from there, depending on the size and term of the loan required.

What are the benefits of a Thinking Capital Business Loan?

Thinking Capital provides some advantages over the competition when it comes to its business loans.
  • High loan amount. You can borrow as much as $300,000 with Thinking Capital.
  • No collateral required. You can apply for a loan from Thinking Capital without the need for collateral.
  • Can be used for almost anything. Thinking Capital‘s loans can be used to cover almost any business expense.
  • Cash-flow advisor. Thinking Capital will soon offer cash-flow advisors who will provide tips on money management to customers. They will be able to help with the financial side of inventory, marketing, rent, utilities and even starting new projects.

What to watch out for

  • Late fees and insufficient funds fees. Since Thinking Capital requires banking info, it can deduct your payments directly from your account. Be sure you have the funds to cover the payments before taking the loan.
  • Loan terms vary a lot. The loan amount, term length and interest rates are dependent on each individual borrower’s situation. A borrower with a bad credit score is likely to get a high interest rate.
  • Short terms. Terms can be as little as 6 months, which does not give a lot of time for borrowers to pay back the lender.

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Prime pricing from 9.00%
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To be eligible, you must have been in business for at least 100 days with a minimum of $10,000 in monthly deposits.

SharpShooter provides capital to small businesses that are underserved by banks and credit unions. It measures overall business health and potential rather than focusing strictly on traditional metrics. Fill out a simple application and get pre-approved in minutes. Receive your funds within 24 hours.
Swoop Funding Business Loan
4.00% - 25.00%
$1,000 - $5,000,000
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$10,000 /month
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To be eligible, you must have been in business for at least 24 months and have a minimum of $100,000 in annual revenue.

Swoop partners with banks and alternative lenders to match your business with the right funding options. Register for free and browse your offers without affecting your credit score.
Lending Loop Business Loan
Starting at 4.96%
$10,000 - $500,000
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Lending Loop is Canada’s first regulated peer-to-peer lending platform. Complete an application in 5 minutes. Once you accept your loan offer, investors will begin to fund your loan on the marketplace. Your loan will be transferred to your bank account when it is fully funded.
OnDeck Business Loan
8.00% – 29.00%
$5,000 - $300,000
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$10,000 /month
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Secured Term, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months with a minimum monthly revenue of $10,000.

OnDeck 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.
Loans Canada Business Loan
Prime Pricing from 9.00%
$2,000 - $350,000
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$4,166 /month
100 days
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To be eligible, you must have been in business for at least 100 days, have a credit score of 410+ and show a minimum of $4,166 in monthly deposits ($50,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $350,000. Complete one simple online application and get matched with your loan options.

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How do I apply?

If you meet the criteria Thinking Capital requires, then you can apply for a loan.

  1. Go to Thinking Capital‘s website.
  2. Enter your personal information, such as date of birth and phone number.
  3. Enter a rough estimate of your monthly revenue.
  4. Provide a void cheque and recent banking statements.
  5. You’ll need your company’s bank account information as well since Thinking Capital withdraws its payments directly.
  6. Applying online should only take about 10 minutes.

What documents do I need to apply?

  • Void cheque
  • Valid ID
  • Bank statements
  • Optional documents from a cosigner if required

I got a Thinking Capital Business Loan. Now what?

After the funds appear in your account after about 48 hours, you can start spending on what your business needs to operate. Thinking Capital makes the process of actually paying the loan back simple since it automatically deducts the payments from your company’s account at predetermined times.

To avoid any fees, you need to be sure that there is enough in your account to cover the loan payments when you apply. You can contact someone from Thinking Capital from 9-5 Eastern Time if there are issues.

To compare Thinking Capital against other lenders and see if it’s the right fit for your business, check out our guide to business loans.

Frequently asked questions

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