Annual Revenue:

• Positive annual revenue ($100,000+)

Time in Business:

• 1+ years

Other:

• Good personal credit score (approximately 610+ )

No limit but usually up to $200,000

Average amount raised of $13,000

Payment Schedule:

• Terms up to 24 months, with bi-weekly payments

Timeliness to Fund:

• Online application takes 5 minutes to receive a free quote – funding can be completed within 48 hours

Origination & Interaction Model:

• Online origination and interactions. 24/7 online support

Other Features:

Most crowdfunding platforms offer additional reach of early adopters and a location to build business awareness

3 main types of lending-based crowdfunding exist in Canada:

• Traditional lending: standard lending terms, expectation of reimbursement of loan plus interest
• Forgivable loans: loans reimbursed if or when the borrower generates revenue, or generates profit
• Pre-sales: lender expects to receive a copy of the crowdfunded product