In general, startups may face challenges when seeking working capital loans, as most lenders require a minimum operating history of at least six months to a year. This is primarily because lenders want to assess a business’s financial stability and ability to generate consistent revenue before extending credit. Given that startups often lack this history and established creditworthiness, they may not qualify for traditional working capital loans.

However, this does not mean that startups are entirely out of options. At Canada Business Loan Experts, we understand the unique challenges that new businesses face when it comes to securing financing. We recommend that startups consult with our loan experts to explore alternative financing solutions tailored to your specific needs.

Our team can provide insights into various funding options that may be available to startups, such as:

• Alternative Lenders: Many alternative financing companies offer products designed specifically for startups that may not meet the requirements of traditional lenders.
• Grants and Subsidies: There are various government programs, grants, and subsidies aimed at supporting new businesses, which can provide funding without the need to repay.
• Business Credit Cards: For immediate cash flow needs, a business credit card might be a suitable solution, offering a line of credit to help manage expenses.
• Equity Financing: Exploring options such as angel investors or venture capital, where you can secure funds in exchange for equity in your business.

Consulting with our loan experts can help you navigate the complexities of startup financing, identify viable alternatives, and guide you through the application process. We’re here to help you find the right solution to support your business’s growth and success.