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SharpShooter Funding Review

Thursday, May 30th

2024 Canadian Business Loan Reviews

SharpShooter Funding Review 4.5 Star Rating

SharpShooter Funding

4.5 Star Rating
  • Loans available from $1,000 to $300,000
  • Multiple lending types available, including short- and long-term funding, line of credit, and more
  • Interest rates ranging from 5.49% to 22.79%
  • Terms ranging from 1-5 years
  • Available in all Canadian provinces and territories
  • Approves over 75% of applications
  • Funding in as little as 24 hours
  • "A+" rated by the BBB
  • In business since 2015

Established in 2015, SharpShooter Funding is dedicated to providing small- and medium-sized Canadian businesses with tailored and transparent financing solutions. Committed to responsible business lending, the company prioritizes truthfulness, clarity, and customer-centric values. Leveraging cutting-edge data science, technology, partner relationships, and customer support, SharpShooter Funding accelerates access to right-sized capital solutions for Canadian business owners.

You need a loan, they've got it

SharpShooter really excels when it comes to variety in business loan types and purposes. Just click on their Funding page and you'll see all of this and more on the list:

  • Bank Only EFT
  • Long Term Funding
  • Business Capital Advance
  • Commercial Funding
  • Working Capital
  • Fixed Funding
  • Bridge Funding
  • Unsecured Business Funding
  • Flex Funding
  • Business Expansion Funding
  • Short Term Working Capital
  • Business Line of Credit

No-cost consultation

Not sure what you need? Just reach out. Either call the toll-free number or fill out the online form with your requested amount, intended use of funds, contact info, and so on. SharpShooter will give you a no-cost consultation to help you figure it out. Generally speaking, though, you can expect to be able to access up to $250,000, with interest rates ranging from 5.49% to 22.79% and terms ranging from 1-5 years.

Borrow up to $250K (or is it $300K?)

The one little discrepancy we found on the SharpShooter site is in the maximum loan amount: on one part of the main page, it said funding can be extended up to $300,000, while a $250,000 amount was cited later on. That's just FYI, if you think your business may be aiming to borrow towards either of those upper limits.

Best Canadian Business Loans

No strict eligibility requirements

Over 75% of applicants are approved for business loans at SharpShooter. And, once you've been approved, you could get your loan proceeds as quickly as 24 hours. Other benefits of going to this lender for your borrowing include the fact that they don't require you to have a specific credit score, length of time in business (startups welcome), or to not be doing business within a particular industry.

Exceptional reputation

Too good to be true? Not at all. The Better Business Bureau gives SharpShooter Funding an "A+" rating, and there were no complaints filed there over the last three years. You could also take a look through page after page of testimonials on the SharpShooter site: yes, of course, those are curated by the lender, but the names of the businesses and their owners are right there for you to see (and google...). Besides, they confirm what we found on third-party sites (including some of the business loan referral services/databases we reviewed separately): from fledgling entrepreneurs to well-established companies, clients praise everything about the process with SharpShooter.

Fantastic funding choice for Canadian businesses

Going beyond traditional metrics, SharpShooter Funding assesses the overall health and potential of your business, working closely to understand your short-term needs and long-term goals to match you with the most suitable financing options. In essence, SharpShooter Funding stands as a supportive force behind the growth of small- and medium-sized Canadian businesses, earning a high rating from us.

Who Offers the Best Business Loans in Canada?

Whether you're a budding entrepreneur embarking on a new venture, or a seasoned business owner with a family legacy, the need for financial support is inevitable. At some point in your business journey, you will likely find yourself in need of a loan to bridge the gap between profits and expenses, address unexpected payroll issues, or capitalize on a surge in customer demand.

In recent years, applying for a business loan online has gained immense popularity for several reasons. One significant factor contributing to this trend is the accessibility and convenience offered by online lending platforms. Unlike traditional banks that often involve lengthy processes and extensive paperwork, online lenders streamline the application process, making it far simpler for business owners in need of funding.

The Best Canadian Business Loans Compare Canadian Business Loans Compare Canadian Business Loan Reviews What are the best Canadian Business Loans Best Canadian Business Loan Reviews

Canadian Business Loan FAQ

Business loans are available for just about any need: equipment financing, merchant cash advances, working capital, and much more. While you'll have to provide details about your business to apply and qualify for a business loan, once you've received the funds you can usually use them for whatever your company needs.
There are several types of lenders when it comes to business loans. You could get funding through a traditional bank or credit union, either locally or online. There are also peer-to-peer lending platforms that allow smaller financial institutions and even private investors to fund business loans.
You'll definitely pay interest on your business loan. Rates typically range from 1.5% to as high as 36% APR. You may also have origination fees of up to 6% of the loan amount, depending on the lending partner you select.
That always depends on the lender. Some providers of business loans require you to have a certain length of time in business or a minimum amount of gross annual sales to even apply. It's a good idea to determine those requirements before you begin the application, to save yourself some time and hassle.
Most of the time, you can complete the entire business loan process, from application to funds transfer, 100% online. That's a huge convenience for busy business owners like you, who might be applying outside of traditional bank hours.
Most lenders offer business loans ranging from $2,000 to $500,000. The amount you're approved for will depend on the lender you select and your business situation: naturally, the longer you've been in business and the more profitable you've been, the more likely it is that you'll be approved for a large loan.
You should have the proceeds of your business loan in your account within a week. However, if you need the money sooner, look for a lender that offers next-business-day funding. And, keep in mind that those timeframes are based on when you accept the loan offer you get, not just when you finish the application. Your business loan may require extra verification steps, like documentation of income and expenses, before you receive a funding offer.
Any time you take out a loan, you run the risk of defaulting. Be sure to only borrow what you need and maybe a little extra, and have a clear plan for making on-time loan payments. Many providers of business loans offer education and counseling at no extra charge, if you could use help in determining how much to borrow and how to use the loan wisely to maintain and grow your company.
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Continued from above...

Online platforms provide a user-friendly interface that allow business owners to easily navigate through the loan application process. This simplicity makes it easier for individuals who may find traditional financial applications complex or intimidating. With clear instructions and helpful online support, these platforms empower entrepreneurs to take control of their financial needs without being overwhelmed.

Another reason why online loans are so popular is the speed of the loan approval process. Traditional banks may take weeks or even months to approve a loan, causing delays in crucial business operations. Instead, online lenders leverage technology to expedite the evaluation process, providing swift responses to loan applications. This quick turnaround time is particularly beneficial for small businesses that may need timely financial support to address unexpected challenges.

The question then arises: where should you seek a business loan? While your first inclination may be to approach the financial institution where you already hold personal or business accounts, convenience doesn't always translate to being the best financial option. Local banks may lack the motivation to provide the most competitive rates, and smaller banks might not possess the resources for substantial loans.

Fortunately, Canadian business owners have a range of choices when it comes to securing a loan. While local banks remain a viable option, there are reputable online lenders that simplify the application process, offering the possibility of receiving funds within a business day or two. You'll want to compare offers from both local and web-based lenders to identify the loan that offers the most favorable rates and terms for your specific needs.

Determining which lender is the right fit for your business involves considering various factors:

  • Loan application process. Evaluate the ease and speed of the application process. Can you complete it online, and how long does approval and fund disbursement take?
  • Loan requirements. Check the eligibility criteria, considering factors such as business tenure, gross revenue, and the need for collateral.
  • Loan amount and rate. Understand how much you can borrow, the interest rates, and the repayment duration.
  • Reputation. Research the lender's reputation. Look for feedback from other businesses, consider the Better Business Bureau's ratings, and seek insights from the lender's clientele.

To assist Canadian entrepreneurs in navigating these considerations, Top Consumer Reviews has diligently reviewed and ranked the best business loan providers. Our goal is to equip you with the information needed to secure the funding essential for your company's growth and success. Whether you're a startup or an established business, we hope our insights guide you toward the right financial partner. Here's to your business thriving and flourishing!

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