Frequently Asked Questions

Question 1

What other type of equipment can I finance for my business?

Accepted Answer

We can assist you with financing virtually any type of business equipment. Active Growth Financial finances a wide range of assets including construction equipment, agricultural machinery, medical equipment, restaurant equipment, technology, software, and much more. If you have a specific piece of equipment in mind, contact us and we'll let you know if we can finance it.

Question 2

How long does the approval process take?

Accepted Answer

Applications for approval can take anywhere from under 30 minutes to 24 hours, depending on credit. Funding can be completed the same day or within 24–48 hours once approved.

Question 3

Do I need good credit to qualify?

Accepted Answer

We work with businesses and personal credits of all credit types. Whether your credit is excellent, fair, or challenged, we encourage all Canadian business owners to apply. We look at the full picture of your business, not just your credit score.

Question 4

Are Active Growth's finance services available across Canada?

Accepted Answer

Yes, Active Growth Financial provides financing solutions to businesses in all Canadian provinces and territories, including Ontario, British Columbia, Alberta, Quebec, Saskatchewan, Manitoba, Nova Scotia, New Brunswick, Newfoundland, Prince Edward Island, and the territories.

Question 5

What documents do I need to apply?

Accepted Answer

In most cases we can work with our online application. If more information is required due to your time in business, credit profile, or transaction type, a finance representative will reach out and discuss personally.

Question 6

What interest rates can I expect for equipment financing?

Accepted Answer

Interest rates vary based on factors including your credit profile, time in business, equipment type, and loan term. Rates are competitive and tailored to your specific situation. Contact us for a personalized rate quote.

Question 7

Can I finance used equipment?

Accepted Answer

Yes, we finance both new and used equipment. The age and condition of the equipment may affect the financing terms, but we work with a wide range of equipment vintages.

Question 8

What are the typical loan terms for equipment financing?

Accepted Answer

Equipment financing terms typically range from 12 to 84 months (1 to 7 years), depending on the type of equipment, the loan amount, and your business profile. We work with you to find a term that fits your cash flow needs.

Question 9

Can I finance equipment from any vendor?

Accepted Answer

Yes, you can finance equipment from virtually any vendor or dealer in Canada. You are not restricted to specific vendors or dealerships when financing through Active Growth Financial.

Question 10

Is a down payment required?

Accepted Answer

In many cases, no down payment is required. However, a down payment may be requested for certain transactions, particularly for businesses with limited credit history or for high-value equipment purchases.

Question 11

How much working capital can I borrow?

Accepted Answer

Business loan amounts range from $5,000 to $1,000,000, depending on your business revenue, credit profile, and time in business. Contact us to discuss the amount that's right for your situation.

Question 12

What can I use a business loan for?

Accepted Answer

An Active Growth Financial business loan can be used for virtually any business purpose — inventory, payroll, marketing, equipment, repairs, renovations, expansion, seasonal demand, cash flow support, and more. There are no restrictions on how you use the funds.

Question 13

How quickly can I receive working capital funds?

Accepted Answer

Approvals are typically completed within 24 hours. Funding can be completed the same day or within 24–48 hours once approved.

Question 14

What is the minimum time in business required?

Accepted Answer

We generally require a minimum of 6 months in business. A minimum monthly revenue of $10,000 is also required. We work with all credit profiles and evaluate each application individually.

Question 15

Is collateral required for a business loan?

Accepted Answer

No collateral is required. Our working capital loans are unsecured, meaning you do not need to pledge any assets to access funding.

Question 16

What are the repayment terms?

Accepted Answer

Terms range from 3 to 24 months. You can choose to pay weekly or monthly — whichever works best for your business. Early repayment discounts are also available.

Question 17

Can I finance a vehicle if I'm self-employed?

Accepted Answer

Absolutely. Our auto financing program is specifically designed for business owners, founders, and entrepreneurs — including self-employed individuals. We understand the unique financial situation of self-employed Canadians and have solutions that work for you.

Question 18

What types of vehicles can you finance?

Accepted Answer

We finance commercial and business-use vehicles of all kinds — trucks, vans, SUVs, buses, shuttles, service vehicles, utility vehicles, and more. As long as the vehicle is being used for commercial business purposes, we're happy to look at it.

Question 19

Can I finance an entire fleet of vehicles?

Accepted Answer

Yes, we offer fleet financing solutions for businesses that need to finance multiple vehicles. Contact us to discuss your fleet financing needs and we'll create a customized program for your business.

1General

2Equipment Financing

3Business Loans

4Auto Financing

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