frequently asked questions

FAQ's

Important Questions and Answers

Power Brokers customers are not affected by the acquisition. Power Brokers continues to be dedicated to helping small business owners get the financing they need quickly and easily. Being a part of the our family will enable us to help even more small businesses.

We are financial brokers. Power Brokers are affiliates with most of the leading Lenders. Power Brokers is a financing provider that offers funds at lower rates to Canadian and USA  small and medium size businesses. You can apply for financing regardless of industry.

Fixed Financing is our small business loan solution. With Fixed Financing, you agree to a rate and then pay a fixed daily amount based on that rate, and the funded amount. You can choose to repay in 6, 9 12, or up to 18 months. (124, 186, 248 or 360 equal payments). There is no collateral requirement for our funding

Flex Financing is our merchant cash advance solution. Flex Financing has no fixed time period for repayment and no collateral. Repayment is based on a small percentage of your daily credit/debit card sales.

You can apply for up $5000.00 up to $500,000.00 for your business

With our Fixed Financing product, you repay a fixed amount on a daily basis. This amount is based on the business loan you received. With our Flex Financing product, daily payments are made based on an agreed percentage of your credit card sales, with no fixed time period to fully repay. We also have non-daily repayment options, including weekly and bi-weekly repayments.
Yes! We can provide you and your business working capital with non-daily repayment options available, including weekly and bi-weekly repayments.
Use financing to make the purchases, investments, or fixes you need to grow and support your business. Renovations, inventory, expansion, equipment, marketing and advertising are common areas business owners like you use their financing for.

We work with existing small to medium sized businesses across Canada, in various industries such as restaurants, retail, auto repair,  health and beauty, ect…

We fund small- to medium-sized businesses that meet the following criteria:

  1. Canadian
  2. Average monthly card sales of at least $7,000
  3. In business and operating for a minimum of 12 months ( Length of Ownership )
  4. . Monthly sales of $10,000.00 or more
  5.  5 or more deposits a month into Bank
Power Brokers uses Secure Socket Layer (SSL) technology to keep your information safe. We are also VeriSign® Secured.

Upon approval, you can expect to receive your funds in as little as 24 hours

Application

During the online application process you will be prompted to connect your bank account, and/or your processor. We require a minimum of 4 months of data and 6 months of data for seasonal businesses in order to determine how much financing you are eligible to receive.

Apply online here and share some basic information about you, your business, and your financing needs. You can also contact us at 1-866-258–8315 and one of our representatives will be able to help you.

It takes approximately 10 minutes to complete your online application. Once we’ve received your application we will send you an email confirmation with instructions or someone will contact you within 24 hours.

Our goal is to make the application process easy on the customer. We try to ask for as little documentation as possible. For all applications we require:

  1. Signed and dated contract pages
  2. Government Issued photo ID
  3. Voided Cheque

Additional documentation may be required depending on how much financing you are receiving.

To help make the application process as smooth as possible you can:

  1. Make sure all contract pages are signed and dated where necessary.
  2. Send clear documentation – submit a photo ID.
  3. Submit all requested documentation with the initial contract.
Your financing product will not affect your credit score. It will show up as an inquiry on your credit report but not as a trade line. For our fixed financing product, we show up as both an inquiry and a trade line for your business only (not your personal credit), which is a great way to build up your credit.
We understand. We do not restrict our financing to credit grades. We analyze many aspects related to your business and may request a co-signer. In some cases we can also offer you financing with different pricing terms.

During the application process, you will be requested to provide your business bank account information (voided cheque). Payments are automatically deducted from this account.

Customer Service

You can contact a customer service representative at any time, by Email or by phone 866-258-8315.
Please see the “Contact Us” tab on our website for more information. We will respond to your questions within 24 hours.

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