2m7
Nov 11, 2025
9.3
9.3
BestMoney Score
Cost
9.3
Experience
9.4
Flexibility
9.3
Support
9.0
BestMoney User Recommendation
BestMoney.ca User Rating
BestMoney users strongly recommend this product giving it a score of 78, or 4.4 stars.
The recommendation score shows how satisfied customers are with a provider. A perfect +100 means all customers recommend it, while -100 means no one does. These ratings come solely from community votes and are never affected by partner payments. BestMoney also monitors and removes fraudulent reviews once identified.
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iCapital
BestMoney.ca's take: iCapital provides tailored business loans and financing solutions, including working capital loans, merchant cash advances, and equipment financing, designed to help small and medium-sized businesses access fast, flexible capital. Their offerings feature quick approvals, competitive rates, and repayment terms based on the business's unique financial profile.
iCapital Features
Fast, streamlined funding process
5-minute application, approval within 24 hours
Loans up to $250,000
Repayment over up to 24 months & accepts less than perfect credit
If you’re seeking a reliable financing solution for your Canadian small business, iCapital business loan offers a compelling option. With a remarkable 98% approval rate and quick funding of up to $250,000, you won’t wait long to secure the capital you need.
The easy application process requires minimal data input, making it accessible across various industries. We have broken down everything in this review to see how to get a business loan with iCapital and if it’s the right fit for you.
iCaptal overview
iCapital stands out as a trusted financial partner for small businesses in Canada, excluding Quebec, since its inception in 2007.
They specialize in icapital business loans for businesses generating $100,000 per annum, offering term loans with a 98% approval rate. You can secure funding up to $250,000 within 48 hours, easing your financial burdens swiftly.
The seamless application process requires details about you and your business which they’d verify to see if you qualify. Loan amounts range from $5,000 to $50,000, with flexible terms and rates.
With iCapital, the goal is to experience efficient service and unwavering support for your business needs as soon as it arises.
iCapital features
You’ll find iCapital’s business loans and recurring term loans to be highly adaptable to your needs. They offer small business term loans with competitive rates, making it easy for you to access the funding necessary for growth.
With flexible repayment options and minimal documentation, iCapital guarantees a hassle-free experience for Canadian entrepreneurs.
Secured business loan
When you’re seeking quick access to capital, iCapital’s business loans offer a compelling solution with funding up to $250,000. This is usually for businesses willing to offer their houses as collateral in order to keep the borrowing rate low.
All you need to do to confirm eligibility and access their loan is answer a few questions and do your account verification. With loan terms stretching from day of issuance to 5 years it’s easy to tailor repayment to your financial situation.
Recurring term loan
If you’re a small business owner in need of flexible financing, consider iCapital’s recurring term loans. With amounts up to $50,000, these loans offer a customizable solution for managing your cash flow.
You can get your loan sum every 4 months to be repaid weekly ensuring your business still runs as it should. The application process is streamlined to take only 2 minutes, providing quick access to funds in 24 hours.
Small business term loan
iCapital’s small business term loans offer a straightforward solution for businesses looking to get a one-time loan. The deal here is to repay daily or weekly depending on how fast you can repay without exceeding 24 months.
This particular iCapital business loan isn’t offered with interest, you’re only charged a flat fee depending on how far you will be paying back and how much borrowed.
How to get a business loan with iCapital
To secure a business loan with iCapital, your business needs to be making $10,000 monthly to qualify. Then you start by visiting their website and completing the online application. There, you just need to provide essential details about yourself and your business to get verified.
Once approved, you can expect to receive your funds swiftly, often within just 48 hours. This is how to get a business loan with iCapital in details.
1. Visit iCapital’s website
Looking to secure a business loan with iCapital? Start by visiting their user-friendly website. It’s your gateway to accessing up to $250,000 in funding for your small business. The site guides you through a quick, three-step application process that takes just five minutes.
You’ll be required to fill in details of your business and yourself therefore you need to come in prepared. What this means is having full understanding of its numbers as that would be a major determinant on whether you’re qualified to get the loan.
2. Complete the online application
When you’re ready to secure a business loan with iCapital, completing their online application is your next step. This streamlined process takes just five minutes and consists of three easy steps; company info, your info and account verification.
For your company info, you need to provide specific details like your business location, income margin, and expected funding.
Your personal info would require the provision of your social insurance number and the percentage of the business that you own.
Then you’ll need to confirm if you own a home, are up to date with your business lease payments and taxes, if you have any outstanding term loan and if iCapital has the permission to perform a credit check on your account.
This step takes approximately 2 minutes. You’re required to be patient and not exit until you see the “success” message.
3. Provide required documentation
After completing the quick online application, you’ll need to gather and submit specific documentation to move forward with securing a business loan from iCapital.
Start by providing two pieces of government-issued ID to verify your identity. Next, include your articles of incorporation, demonstrating your business’s legal standing.
Don’t forget a void cheque, which guarantees seamless fund transfer once approved. Remember, your business should have been operational for at least a year, with a minimum annual revenue of $100,000.
Confirm you have a storefront or professional office space and no open bankruptcies. With these documents ready, you’re closer to obtaining the funds.
4. Get approved
After you’ve successfully completed the above steps, you’ll be contacted by their team who’ll go over your account and loan amount. This process is to determine a suitable and flexible repayment plan for you.
5. Receive funds
This entire application process takes 24-48 hours and once you’re approved for a business loan with iCapital, accessing your funds is a swift and straightforward process. You just need to stick to your repayment plan to avoid penalties or loss of properties.
The repayment plan is usually automated with DC Bank who is in partnership with iCapital to ensure proper accounting and documentation is followed.
With iCapital, swift and efficient funding empowers your business to thrive and grow.
iCapital benefits
You’ll appreciate the commitment to customer support and unmatched security, ensuring your business transactions are safe and seamless in this iCapital review.
Their 5-point promise guarantees transparent and reliable service, reflecting their dedication to customer satisfaction.
Supported by a strong network of Canadian partners, iCapital also values giving back to the community, solidifying their reputation as a trusted financial ally for small businesses.
Customer support
When you choose iCapital, you’re tapping into an exceptional level of customer support that sets them apart. Their service is designed to make your experience seamless and stress-free.
With a simplified three-step application, you’ll typically secure approval within 48 hours and appreciate 24/7 access to your account through their secure portal, keeping you informed and in control. Regular updates on account balances and repayment options keep you informed.
Plus, the automated payment system simplifies your financial commitments, letting you focus on growing your business.
Unmatched security
Security stands as a paramount concern in matters concerning finance, and iCapital delivers unmatched protection for your business’s financial dealings.
Through their partnership with DC Bank, they utilize a secure online application process fortified by advanced encryption technologies, ensuring your sensitive information remains safe.
You’ll have 24/7 access to your accounts via a secure portal, letting you monitor loan status and manage repayments effortlessly.
iCapital requires thorough identity verification with multiple IDs and documentation, adding an extra layer of security. Their automated payment systems guarantee hassle-free, secure transactions.
Transparent client communications further foster trust, keeping you informed with regular updates.
5-point promise
As a user, you’ll experience their remarkable benefits in the 5-point promise of this iCapital review, designed to meet the dynamic needs of your small businesses.
With stress-free financing, you’ll enjoy a simplified three-step application process, leading to a 98% approval rate. Access funds ranging from $5,000 to $250,000 within 48 hours.
Their flexible repayment options, tied to daily sales, make managing finances easier. Plus, with 24/7 account access through a secure portal, staying informed about your finances is seamless.
| Features | Benefits |
|---|---|
| Approval Rate | 98% |
| Funding Range | $5,000 to $250,000 |
| Turnaround Time | Within 48 hours |
| Repayment | Based on daily sales |
| Account Access | 24/7 via secure portal |
Giving back to Canadians
After experiencing iCapital’s seamless financing solutions, you’ll appreciate their commitment to giving back to Canadians.
By focusing on quick and easy access to funds, iCapital supports local entrepreneurs, fueling economic growth and job creation. With an impressive approval rate of up to 98%, they empower businesses to thrive, benefiting the broader community.
Their hassle-free process guarantees funds are available within 48 hours, addressing urgent financial needs. iCapital’s dedication to small businesses means you’re not just getting funding; you’re contributing to Canada’s economic importance.
This commitment makes iCapital an essential partner for entrepreneurs aiming to strengthen their communities.
Backed by a Strong Partner Network
When you work with iCapital, you gain the advantage of a trusted national partner network. These partnerships make the funding process faster, giving you access to capital within 24 hours.
They also allow iCapital business loan to tailor financial solutions that fit your unique business needs, while strengthening the credibility and reliability of the support you receive.
With iCapital, their partnerships are not just business-to-business agreements — they translate directly into quicker approvals, more relevant options, and dependable financial support for you.
Pros and cons of iCapital
When considering iCapital, you’ll find that their quick funding process and high approval rates are definite advantages for small businesses in need of immediate cash flow.
However, it’s essential to weigh these benefits against the potential drawbacks, such as high-interest rates and limited post-funding support.
Understanding both sides will help you make an informed decision about whether iCapital is the right choice for your business needs.
Pros of iCapital
One major advantage of iCapital is their incredibly high approval rate—98%—which guarantees that most small business owners can quickly secure the funds they need.
With iCapital, you’ll enjoy several benefits:
High approval rate
One of iCapital’s standout advantages is its exceptionally high approval rate, reportedly around 98%, which means most small business owners who apply are likely to secure funding.
This makes it a practical option for those who may not qualify through traditional banks.
Fast funding
The application process is quick, and approved borrowers can access up to $250,000 within 24–48 hours, helping businesses address urgent financial needs without long delays.
Flexible repayment
Borrowers can choose repayment terms ranging from three to twenty-four months, with rates that vary by loan type and credit profile. This flexibility allows businesses to align repayment with their cash flow.
Responsive support
Many customers highlight iCapital’s dedicated funding specialists and their willingness to guide applicants through the process, making it easier to understand and complete.
Automated payments
The platform offers automated repayments through a secure online portal that is available 24/7, reducing administrative hassle and making cash management more convenient.
Credible partnerships
iCapital strengthens its reliability by working with established partners such as DC Bank, which handles repayments and adds a layer of security for borrowers.
Cons of iCapital
Cost & rates
iCapital’s loans can carry significantly higher interest rates than those offered by traditional banks, particularly for unsecured loans or borrowers with weaker credit profiles.
Some customers have reported paying rates in the range of 30–40%, which can create serious cash flow strain for small businesses.
Reputation & trust
The company currently holds a low TrustScore of about 2.0 out of 5 on Trustpilot, based on around ten reviews.
Negative feedback often goes unanswered, raising concerns about accountability and the company’s commitment to client care. The small number of reviews also makes it difficult to assess reliability with confidence.
Communication & support
Customer experiences with communication are inconsistent. While some borrowers describe the team as responsive, others report lapses in support after funding, slow replies to inquiries, and frustration when issues arise.
Transparency & post-funding experience
There are also concerns about transparency. Loan costs and fees are not always clear up front and are typically revealed only during the application process.
In addition, some borrowers feel that post-funding support is inadequate, which contributes to a sense of uneven service standards.
Alternatives to iCapital
Best
9.9
Factor Rate
From 1.04
Loan Term
2 - 24 months
Loan Amount
$10k - $500k
9.8
Factor Rate
From 1.08
Loan Term
4 - 24 months
Loan Amount
$5k - $500k
9.7
Factor Rate
From 1.10
Loan Term
6 - 24 months
Loan Amount
$5k - $800k
We’ve provided strong alternatives in this iCapital review that might better suit your business needs.
Driven offers an impressive reputation with a 4.8 rating from 1,000 reviews, showcasing its reliability among borrowers.
Additionally, Journey Capital and Merchant Growth provide competitive options, backed by high customer satisfaction and flexible financial solutions.
Driven
Driven (formerly Thinking Capital) positions itself as a strong alternative to iCapital in Canada’s small-business lending space.
While both companies focus on fast approvals and flexible financing, Driven edges ahead in maximum loan amounts and customer satisfaction ratings.
iCapital highlights very high approval rates (reportedly 98%), but Driven differentiates itself with a stronger TrustScore (4.8/5 from over 1,000 reviews) and larger funding limits—up to $300,000, compared to iCapital’s generally lower ranges.
Pros of Driven
- High customer satisfaction: 4.8/5 rating across 1,000+ verified reviews.
- Larger loan amounts: Up to $300,000 available, offering more capacity than iCapital’s typical cap.
- Fast access to funds: Funding can be received within 24 hours after approval.
- Flexible repayment: Terms range from 3 to 24 months, with repayment schedules that adapt to cash flow.
- Variety of options: Offers both fixed-term loans and draw-style funding, giving borrowers more flexibility.
Cons of Driven
- Interest rates vary widely: Rates depend heavily on credit strength, and exact ranges are not always transparent (some reports suggest rates can go quite high for weaker profiles).
- Approval rate not disclosed: While strong, Driven does not publicly verify a rate higher than iCapital’s 98%.
- Possible higher costs for riskier businesses: Businesses with limited history or lower credit may face steeper financing terms.
- Not all details public: Unlike iCapital, Driven doesn’t always make clear caps and requirements upfront (may require a consultation).
Journey Capital
While Driven impresses with its extensive offerings, Journey Capital emerges as another formidable contender in the small business financing arena.
You’ll find that Journey Capital shines with a stellar 4.9 rating from 108 reviews, underscoring its trusted reputation.
Their swift approval process and flexible financing options, including loans and lines of credit, cater to diverse business needs. Competitive interest rates and transparent terms further enhance their appeal.
Pros of Journey Capital
- Journey Capital has very strong online reputation from users who have tried the platform and found it very helpful their businesses
- You get to explore multiple financing products with them which includes; Business Term Loans, Business Line of Credit, and Flex Fund Advance.
- The product thresholds are generous. You can access loans/lines of up to $500,000 in many cases.
- Speedy loan processing is guaranteed. Once approved, funds can be transferred to you in as little as 24 hours for many cases.
- Clear application requirements are stated: minimum time in business (6 months), minimum credit score (~600), minimum annual revenue (~$100,000), and business must be incorporated in Canada. This helps reduce uncertainty in determining if it’s the right product fit for you.
Cons of Journey Capital
- You’ll find their rates relatively high compared to traditional banks. The business term loan interest is approximately between 16-25% for many credit profiles.
- Journey Capital is not ideal for very new businesses because you need to be at least 6 months old in business with a revenue of $100,000 and above to apply.
- Some loan amounts above certain thresholds (e.g. anything above $300,000) may require collateral or extra approvals. So higher-limit financing isn’t always “free ride.”
Merchant Growth
Merchant Growth is a well-established alternative lender to iCapital in Canada, with generally strong reputation and broader financing ranges.
Compared to iCapital, Merchant Growth tends to offer higher maximum loan amounts (up to $800,000 for many products), more flexible repayment frequencies (daily, weekly), and requires businesses to have been in operation and generating revenue for at least 6 months.
While both provide relatively fast funding, Merchant Growth’s eligibility thresholds (revenue minimums, time in business) are somewhat stricter than what some of iCapital’s offerings appear to permit.
Also, Merchant Growth’s interest rates tend to vary widely based on business profile, and for riskier or smaller businesses they may be higher.
Consider these pros and cons:
Pros of Merchant Growth
- Merchant Growth has a TrustScore ≈ 4.8/5 on Trustpilot from highly satisfied customers acknowleding their speed, transparency, and ease of process.
- You can access loan funding, term financing, lines of credit, and merchant cash advances of up tp $800,000.
- Quick access to capital: approved applications may see funds in as little as 24 hours.
- Flexible repayment schedules: daily or weekly payments are possible, which can help align with fluctuating cash flow.
- They have a transparent minimum eligibility requirements. You’re qualified for Merchant Growth loan scheme if your business generates $10,000/month in revenue.
Cons of Merchant Growth
- Merchant Growth’s interest rates can be high—depending on creditworthiness and business risk, rates in some cases reach 30-40% or more, making financing expensive for less established businesses.
- Startups or very new businesses (less than 6 months) generally do not qualify, which excludes businesses in early stages.
- The minimum monthly revenue requirement (≈ $10,000/month) creates a barrier for lower-revenue businesses.
- Frequent repayment obligations (daily or weekly) can put pressure on businesses whose sales are irregular or seasonal.
Conclusion to our iCapital review
iCapital offers Canadian businesses fast, accessible financing with one of the highest approval rates in the market and a simple, paperwork-light process.
For small businesses struggling to secure funds from traditional banks, this accessibility is a major advantage.
However, concerns around high interest rates, inconsistent communication, and limited transparency highlight the importance of careful consideration before committing.
For entrepreneurs seeking alternatives, lenders such as Driven, Journey Capital, and Merchant Growth provide competitive funding options with higher loan caps, flexible repayment structures, and stronger reputations for customer service.
These alternatives may be better suited for businesses with stronger revenue streams or those seeking larger financing amounts.
Ultimately, this iCapital shows it can be a helpful solution for businesses needing fast, short-term funding with minimal red tape, but those who prioritize lower costs, more transparency, or higher borrowing limits may find greater value in exploring competing lenders.
Thanks for checking out our iCapital review. See lots of business loan sources compared in one place here.
iCapital Details
iCapital Contact Info
1-877-251-7171
Mon - Fri, 9:00 AM – 5:00 PM EST
68 Jutland Road, Block B, Unit 23, Toronto, Ontario, Canada M8Z 0G7
info@icapital.ca
FAQs about iCapital review
How much does iCapital charge?
iCapital’s interest rates vary depending on the product and borrower profile. For business loans, rates are typically from prime up to 35%. For merchant cash advances, repayment is tied to a percentage of daily sales, which means costs fluctuate with revenue. While this flexibility can ease cash flow pressure, the effective cost of borrowing may be higher than traditional bank loans
What kind of company is iCapital?
iCapital is an alternative online lender that provides financing solutions to small businesses across Canada (excluding Quebec). The company is known for its fast approvals, high acceptance rates, and simplified application process that requires minimal documentation. Its products are designed to help business owners access short-term funding without the hurdles of traditional bank financing.
How does iCapital make money?
iCapital earns revenue primarily through the interest charged on loans (ranging from prime up to 35%). In addition, they may charge origination or servicing fees depending on the loan product. iCapital can also generate income through partnerships and referral agreements, which allow them to broaden their reach while maintaining steady revenue streams.
iCapital Community Reviews
Would you recommend iCapital to your friends?
BestMoney.ca User Rating
BestMoney users strongly recommend this product giving it a score of 78, or 4.4 stars.
The recommendation score shows how satisfied customers are with a provider. A perfect +100 means all customers recommend it, while -100 means no one does. These ratings come solely from community votes and are never affected by partner payments. BestMoney also monitors and removes fraudulent reviews once identified.
