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Clearco Business Cash Advance review

Get the money you need to grow your online business and pay it back with a percentage of your sales

Clearco is a new-age online lending platform designed to give your web-enabled business easy access to capital growth financing. It is led by Michele Romanow, who is currently one of the Dragons on Dragons’ Den.

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Please note: All information about Clearco Business Cash Advance has been collected independently by Finder and this product is not available through this site.

If you run a successful eCommerce or Consumer SaaS business and you want to borrow money to expand your operations, you might like to take out a cash advance with Clearco. Find out how this innovative company can help you grow your business and learn more about how you can apply and what you’ll need to qualify for an advance.

How does Clearco work?

Clearco is a new-age online lending platform designed to give your web-enabled business easy access to capital growth financing. It’s run by several successful investors, including Michele Romanow of CBC Dragons’ Den. Its team is well-versed in helping emerging companies harness their untapped potential.

All you need to do to apply for a cash advance is fill out a quick online application and give Clearco access to your revenue and marketing accounts. From there, a team of industry experts will evaluate the performance of your company and assign funding between $10,000 and $20,000,000 if you qualify. Once you’re approved, your Clearco funding will usually be deposited within 24 hours so you can put it straight to work.

What makes Clearco particularly unique is that your eligibility for a cash advance will depend on the performance of your business rather than your credit score. Your payments will also fluctuate based on how much revenue you’re bringing in, which can make it easier to keep up with paying back the money you owe during seasonal downturns or unexpected lulls.

Latest updates about Clearco

June 23, 2021: Clearco provides $50 million in funding to Caravan, a startup that helps celebrities build companies around their brands. Caravan is a joint venture with the talent agency CAA.

July 8, 2021: Clearco raised US$215 million in funding from global tech investor SoftBank. Clearco is the first Canadian startup to get funding from this giant Japanese investor.

July 8, 2021: Clearco provides $10,000 through the ClearAngel program to Tiannia Barnes, an affordable provider of luxury shoes for women. ClearAngel is a platform for early-stage founders that provides capital, data-driven advice and access to 500+ investors.

Pros and cons


  • Instant funding. After you sign your contract, you’ll be able to access your money in as little as 24 hours
  • High amounts. You can apply for an advance ranging from $10,000 to $20,000,000
  • Flexible repayment. Since your advance is repaid using a portion of your revenue, you’ll be better equipped to manage your repayments when business is slow.
  • Bad credit doesn’t matter. Decisions about whether or not you qualify for an advance are based on your business performance, so your credit score won’t factor in.
  • Qualify for multiple advances. Once you’ve repaid 80% or more of your original advance, you may be able to qualify to take out another one.
  • Optional credit card. You’ll get an optional Clearco credit card if you intend to spend your advance on marketing.


  • Maintenance fees. You’ll have to pay a small flat fee on your advance that will depend on your business metrics as well as how you plan to spend the money you borrow.
  • Limited sectors. Clearco only provides financing for eCommerce and Consumer SaaS (software as a service) companies.
  • High monthly sales needed to qualify. Your monthly sales have to be at least $10,000 to qualify.
  • Startups can’t apply. You won’t be eligible for financing if your business is under six months old. You may want to check out start up financing instead.

What should I know before I apply

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Name Product Interest Rate Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered
SharpShooter Funding Business Loan
5.49% - 22.79%
$1,000 - $300,000
6 - 120 months
$10,000 /month
100 days
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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.

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OnDeck Business Loan
8.00% – 29.00%
$5,000 - $300,000
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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.

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Loans Canada Business Loan
6.60% - 29.00%
$4,000 - $500,000
3 - 60 months
over $10,000/month
100 days
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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.
Merchant Growth Business Loan
12.99% - 39.99%
$5,000 - $500,000
3 - 12 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.

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How to apply

If you check off all the boxes outlined above and you’re ready to apply for an advance with Clearco, you’ll need to do a couple of things to get started.

  1. Complete the online application, which includes providing your name, email address, personal details, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and approved in less than 24 hours if you’re eligible for an advance.

Bottom line

Clearco Business Cash Advance are designed to give you quick and easy access to the money you need to fund your small business. You’ll repay your cash advance based on a percentage of your monthly revenue and you can even qualify with bad credit as long as your business is performing well.

Frequently asked questions

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