Are you a Canadian Entrepreneur? Are you looking to expand your business? Do you need some capital to do so? If so, think no further than Thinking Capital.
What is Thinking Capital?
Thinking Capital is a Canada-based fin-tech company. It provides quick loans to Canadian startups and gives them ideas (from business experts) on how to expand their business.
Thinking Capital was founded by Jeff Mitelman and Peter Mazoff on January 1st, 2006. So far it has funded over 10,000 startups in Canada.
What are the loan application and approval process?
Thinking Capital provides loans to Canadian startups from Canadian $5000 to Canadian $300,000. If eligible, the loans are approved within 24 hours. This company is known for its innovative financial solutions.
Canadian startups can check their eligibility criteria and apply for a business loan from Thinking Capital via its mobile app or its website.
To qualify for a business loan from Thinking Capital, Canadian startups need to meet these criteria:
- They need to be a Canadian startup. Non-Canadian startups are not entertained, even if they have a great business idea or experts working for them.
- They need to have been in business for at least six months.
- They need to have a practical business idea.
What are the benefits of applying for a business loan via Thinking Capital?
There are quite a few advantages to applying for a business loan via Thinking Capital. They are:
Fast and convenient application process:
MSMEs in Canada can apply for a business loan via Thinking Capital from anywhere they want to via its mobile app or its website. The steps involved in applying for a business loan via Thinking Capital are also quite simple.
They involve answering a minimal number of questions and no paperwork, unlike most traditional banks!
Quick loan approvals
If Canadian startups meet the eligibility criteria as discussed above, their business loans will be approved within 24 hours! There is also no need for them to show any collateral.
A plethora of repayment options available
Thinking Capital provides a plethora of loan repayment options to Canadian startups. They can choose the one that best suits their business needs. Unlike traditional bank loans, it is not hellbent on the EMI style of repayment.
It’s a very reputed fin-tech company
Thinking Capital can be considered a pioneer in the fin-tech domain in Canada. It is the first fin-tech company in Canada to come up with numerous innovative financial solutions.
Startups in Canada that had faced funding, operational and expansion problems before are finding the innovative financial solutions provided by Thinking Capital very useful. Thinking capital has fostered over 10,000 startups in Canada so far.
When should you consider applying for a business loan from Thinking Capital?
If you have any of the following business requirements, then you should consider applying for a business loan from Thinking Capital.
- Need for business expansion.
- Need to hire more skilled professionals.
- Need to purchase industrial or office equipment.
- We need to renovate your office building.
- I need to take advantage of limited business opportunities.
- Need for working capital.
Fin-tech companies like Thinking Capital are the need-of-the-hour for Canadian startups. Time is very precious as far as businesses are concerned. Canadian startups cannot afford to lose precious time, waiting for their business loans to get approved nor will all the Canadian startups be in a position to repay their loans via EMIs.
Thinking Capital’s myriad innovative financial solutions have made life easy for Canadian startups. Now, they can just focus on their business and its expansion without worrying about getting loans or repaying them.
When innovative startups are able to focus solely on their business and its expansion without having to worry about their financials, they contribute massively to a country’s economy. They may even make a nation, a developed nation.
Governments all over the world should take a cue from Thinking Capital and foster innovative startups in their country to make it a better place for people and businesses.
Also read, How To Start a Moving Service Company?
Where is Thinking Capital headquartered?
Thinking Capital is headquartered in Montreal, Quebec, Canada.
When was Thinking Capital founded?
Thinking Capital was founded on January 1st, 2006 by Jeff Mitelman and Peter Mazoff.
What is the loan amount cap at Thinking Capital?
It is 300,000 Canadian Dollars.
What is the minimum loan ticket size at Thinking Capital?
It is 5000 Canadian Dollars.
What kind of startups does Thinking Capital fund?
Thinking Capital funds all eligible Canadian startups, no matter which niche they are in. So far, they have funded Canadian startups in the hotel, retail, auto repair, and health and beauty niches.
What encryption technology does Thinking Capital use to keep the information on its website safe?
Thinking Capital uses Secure Socket Layer (SSL) encryption standard to keep the information on its website safe.
Is Thinking Capital going to be acquired by any company?
Another fin-tech company in Canada called Purpose Financial LP, which is the parent company of Purpose Investments, Purpose Advisor Solutions, and Purpose Innovation Labs has acquired Thinking Capital.
The deal was signed on May 9th, 2018. This acquisition has boosted Thinking Capital’s lending capacity, improved its mobile app and website, and brought in more innovation in its funding model.