Elect Capital

Elect Capital is a direct business funder headquartered at 302 Bay Street, Toronto, providing Canadian small and medium-sized businesses with short-term working capital of $10,000 to $1,000,000. It underwrites on business revenue, cash flow and trading history rather than the owner's personal credit score, and also operates in the UK, US and Australia.

Elect Capital provides working capital from $10,000 up to $1,000,000 for Canadian businesses. The amount you qualify for depends on your monthly revenue, cash flow and trading history rather than your personal credit score.

Repayment terms run from 3 to 12 months, on a daily or weekly payment schedule aligned with your revenue. Early repayment is rewarded: a 10% discount if repaid within 30 days, 5% within 60 days.

Yes. The application is a short online form that takes about 2 minutes, with no paperwork, no branch visits and no hard credit pull. You'll need basic business details and recent bank statements.

Apply before 2 p.m. local time and you can receive an offer the same business day; approval can come in as little as 4 hours. Once you accept, funds typically arrive within hours - most businesses are funded within 24-48 hours.

No. Elect Capital's funding is unsecured - no property, equipment or other assets are required, and its published FAQ states no personal guarantee is required.

Most sectors, including restaurants, retail and e-commerce, manufacturing and distribution, healthcare, hospitality, construction, accounting and professional services, information technology and law firms. Common uses include bridging seasonal cash flow, funding contracts, covering supplier invoices and managing tax payments.

Elect Capital offers one core product - short-term, unsecured working capital - available for different needs: fast business funding, unsecured business funding, short-term business funding and working capital funding. All ranges run $10,000 to $1,000,000 over 3 to 12 months, with no collateral required.

Pricing is a factor rate starting at 1.29, repaid in daily or weekly payments, plus a 3% origination fee; there are no admin fees. Repaying early earns a discount: 10% within 30 days, 5% within 60 days. Your exact factor rate depends on your business profile - review the total dollar cost in your offer before accepting.

Your business must be registered in Canada as a corporation or partnership and generate at least $15,000 in monthly revenue. The standard credit policy asks for at least 1 year in business; strong businesses can be considered from 8 months. Underwriting weighs revenue, cash flow and trading momentum.

No. Elect Capital performs a soft credit check at application, which does not affect your score. A full credit check is only run if you decide to proceed with an offer, and they say they will tell you before doing so.

Once you accept your offer, the capital is deposited directly into your business bank account - often within hours of acceptance.

Elect Capital funds businesses in all Canadian provinces and territories, from Vancouver to Halifax.

Each business works with a dedicated, Canadian-based funding advisor rather than a call centre. You can reach the team at hello@electcapital.com or +1 (437) 837-2406; the Canadian head office is at 302 Bay Street, Toronto.