Your Growth Capital Deserves Flexible Terms
Traditional underwriting demands two years of financial statements, positive net income, and a debt service coverage ratio above 1.2x. Companies in their first or second year with strong contracts and growing revenue get declined — not because the risk is too high, but because the model is too rigid. At VAN Online Business Plus, we underwrite based on your cash conversion cycle and contract backlog — not just historical revenue. That means we evaluate the trajectory of your business, the quality of your receivables, and the strength of your signed agreements alongside the numbers on your balance sheet.
That distinction has put $187 million in lending capital into the hands of Ottawa businesses since we were founded in 2014. Across 420+ active business clients, our lending team has structured operating lines, term loans, government-backed CSBFP facilities, and complex C&I deals for companies ranging from four-month-old startups to established mid-market firms generating $20M+ in annual revenue.
Discuss Your Situation — No Application Fee →Operating Lines of Credit
Revolving credit built around your cash conversion cycle
Revolving credit, $50K–$2M. Secured against receivables, inventory, or a general security agreement. Interest is charged on your drawn balance only, calculated daily — so you're never paying for capital sitting idle. Published rates start from prime + 1.25% and go up to prime + 3.50%, depending on facility size, collateral quality, and your company's overall credit profile. These aren't generic figures — they're the starting point for a conversation about your specific situation.
We underwrite based on your cash conversion cycle, which means companies with limited operating history but strong receivables or confirmed purchase orders can access working capital through purchase order financing structures that traditional lenders simply won't consider. Advance rate: typically 80% on qualifying receivables under 60 days. For inventory-backed facilities, advance rates depend on the nature and liquidity of the inventory — raw materials, work-in-progress, and finished goods are each assessed differently against current market conditions.
Every operating line application includes a full cash flow analysis report, a collateral valuation summary, and a transparent discussion of loan-to-value ratio requirements — before you sign anything. Your named underwriter walks you through each document, explains how the numbers were derived, and answers every question. If something doesn't qualify, we tell you exactly why and what would need to change.
Operating lines integrate directly with your VAN commercial operating account, enabling automated draw-downs and repayments that simplify your daily cash management. Combined with our treasury management tools — including zero balance account sweeping and automated sub-account structures — your working capital works harder without requiring more of your time.
"Most banks wouldn't return our calls. Marcus sat down with us for ninety minutes, reviewed the contract, and had an operating line approved within two weeks."
Term Loans — Fixed Capital for Equipment, Leaseholds & Growth
Fixed-amount financing with no early repayment surprises
Fixed-amount loans from $25K to $2M, with terms spanning 12–84 months. Purpose-built for equipment acquisitions, leasehold improvements, bridge financing, and commercial vehicle financing for fleet and delivery operations. Both fixed and variable rate options are available — check our current rate tables for published ranges. Early repayment carries no penalty after the first 12 months, which means your business is never penalized for growing faster than projected.
For startups and early-stage companies, we employ alternative underwriting models that go beyond the balance sheet. Contract backlog, letter-of-intent documentation, and sector-specific benchmarks all factor into our assessment. A company with $400K in signed contracts and 8 months of operating history tells a very different story than its balance sheet alone suggests. We read both stories — the historical numbers and the forward-looking pipeline — because that's how lending decisions should be made for growing companies.
Loan-to-value ratio requirements are discussed transparently during your initial consultation — no surprises buried in page 47 of a term sheet. Marcus Delaney's lending team assigns a named underwriter from day one and provides status updates every 48 hours throughout the process. You'll know exactly where your application stands at every stage, from document intake to credit committee review to funding.
Term loan proceeds can be disbursed into your VAN commercial operating account or directed to a vendor or supplier on your behalf. For equipment financing, we work with the vendor to coordinate delivery timelines and payment schedules — so funds arrive when they're needed, not sitting in an account accruing interest before you can deploy them.
Get a Term Loan Quote — We'll Review Your Situation in 48 Hours →Government-Backed Lending (CSBFP) — Lower Down Payments, Better Terms
Canada Small Business Financing Program loan origination
The Canada Small Business Financing Program is one of the most underused tools in Canadian business lending. Up to $1M for equipment and leasehold improvements. Up to $350K for real property. The government-backed guarantee means lower down payments, more accessible qualification criteria, and terms that banks like us can structure more aggressively than conventional lending would allow. For qualifying businesses, CSBFP loans often represent the lowest-cost capital available outside of retained earnings.
VAN Online Business Plus handles the full CSBFP application — we know the documentation requirements inside out because we've originated hundreds of these loans since 2014. Our team prepares the complete commercial loan closing package, manages the lender registration, and walks you through every step. The process is simpler than most founders expect: a standard CSBFP application with complete documentation typically moves from intake to approval in 15–20 business days.
CSBFP eligibility depends on your business type, revenue (must be under $10M in annual gross revenue at the time of application), and intended use of funds. Eligible expenses include new and used equipment purchases, leasehold improvements and renovations, and the purchase or improvement of commercial real property. The program does not cover working capital, inventory, or goodwill — for those needs, our operating lines and term loans are the right fit.
A quick pre-qualification call with Marcus's team takes about 15 minutes and gives you a clear answer on whether the program fits your situation. Call us directly at (249) 845-5963 or submit a lending inquiry online and we'll reach out within one business day.
Check Your CSBFP Eligibility — Quick Pre-Qualification →C&I (Commercial & Industrial) Loans — Complex Structures for Established Businesses
Larger facilities, multi-tranche disbursement, customized covenants
For established businesses that have outgrown standard lending products, our C&I lending program accommodates larger facilities with complex structures — multi-tranche disbursement schedules, blended collateral pools, and customized covenant packages. These are the kinds of deals that require a lender who understands your business model deeply enough to structure terms that actually work. Facilities above $2M are evaluated on a case-by-case basis, with pricing, covenants, and disbursement schedules negotiated based on the specific risk profile and capital needs of your operation.
Debt service coverage ratio analysis is performed as part of every C&I underwriting review. But we go further — we model your DSCR under multiple revenue scenarios, including contracted future revenue, seasonal adjustments, and stress-test downside cases. Collateral valuation summaries are provided with every application decision, so you always understand exactly how we arrived at the number. If your business operates across multiple sectors or revenue streams, we evaluate each independently and in aggregate to build a complete risk picture.
C&I facilities can incorporate multiple lending instruments under a single umbrella — for example, a revolving operating line combined with a fixed-rate equipment term loan and a CSBFP leasehold improvement facility, all managed through one relationship and one set of reporting requirements. This integrated approach simplifies your administration and reduces total borrowing costs compared to sourcing each component from a different lender.
Every commercial loan closing package is prepared in-house by our lending team and passes through our triple-review quality control process. Victor Nguyễn still reads every loan application summary himself before final approval. That's over a decade of consistency — and the reason our default rate sits well below the industry average. Learn more about our founding principles and leadership team.
Request a C&I Lending Consultation →Lending Results — Real Numbers, Real Clients
Five companies. Five different challenges. Each one required a different approach — and a lender willing to look past the standard checklist. Here's what happened. For more detailed case studies and downloadable guides, visit our Resources library.
Canopy Robotics Inc.
Problem: Big Five bank offered $150K with full personal guarantees and a 90-day review clause — for a hardware company with a 14-week manufacturing cycle. The facility could be pulled before a single production run was complete.
Solution: $475K inventory-backed revolving facility with draw-downs aligned to manufacturing milestones. Personal guarantees limited to 25% of facility value. Review clause extended to 12 months.
Result: $310,000 in working capital preserved. Facility expanded to $800K within 18 months as production volumes grew.
Read the Full Case Study →Rideau Health Analytics
Problem: Pre-revenue SaaS company with a signed $280K government contract — and no bank willing to lend against it because trailing revenue was effectively zero.
Solution: $280K contract-backed term loan. Underwriting based on signed contract value, government counterparty risk (low), and healthcare SaaS sector benchmarks rather than trailing revenue.
Result: Platform delivered 2 weeks ahead of schedule. Full loan repaid within 14 months. Rideau Health Analytics is now a client with a $500K+ operating line.
Read the Full Case Study →Brasserie Montfort
Problem: Restaurant group overpaying on blended-rate merchant processing by roughly $1,500/month — for three years. Total overpayment exceeded $50K before anyone flagged it.
Solution: Migration to interchange-plus pricing with transparent per-transaction breakdown. Full merchant services rate comparison revealed the gap between what they were paying and what they should have been paying.
Result: $17,500 in annual savings on payment processing. Effective rate dropped by 38 basis points. Savings reinvested into a CSBFP-funded kitchen renovation.
Read the Full Case Study →GreenField Modular Homes
Problem: Manual treasury operations consuming 6+ hours/week of founder time. Late HST remittances generating penalties. No visibility into real-time cash position across multiple project accounts.
Solution: Full treasury restructuring — automated sub-account sweeps, zero balance account sweeping, payroll integration, and tax remittance scheduling through VAN's commercial platform.
Result: HST penalties dropped to zero. Founder reclaimed 6 hours/week. Month-end close went from 5 days to 2. Real-time cash visibility across all project accounts.
Read the Full Case Study →NorthPeak Digital Agency
Problem: Digital agency with strong billings but chronic cash flow gaps — clients paying net-45 to net-60 while payroll hit every two weeks. Founder was personally bridging payroll from savings.
Solution: $200K revolving operating line secured against receivables. 80% advance rate on invoices under 60 days. Integrated with VAN commercial account for automated draw-down and repayment.
Result: Days sales outstanding reduced from 52 to 34 days. Payroll never missed. Facility drawn down 7 months out of 12 — confirming the seasonal pattern the underwriting model predicted.
Read the Full Case Study →How Our Lending Process Works — From First Call to Funding
Every lending engagement follows the same structured process. No black boxes. No "we'll get back to you eventually." Here's what to expect.
1. Initial Conversation
A 15–30 minute call or meeting with Marcus Delaney's lending team. We listen to your situation, ask questions about your business model and capital needs, and give you a straight preliminary assessment. No application fee. No commitment. If we're not the right fit, we'll tell you — and often suggest who might be.
2. Document Intake & Pre-Qualification
We provide a clear checklist of required documents — tailored to your specific lending product. For operating lines, that typically includes 6 months of bank statements, an accounts receivable aging report, and your most recent financial statements. For startups, signed contracts and letters of intent replace historical financials. Your named underwriter is assigned at this stage.
3. Underwriting & Cash Flow Analysis
Our underwriting team builds a complete cash flow analysis, collateral valuation summary, and DSCR model. For complex applications, we model multiple revenue scenarios. You receive status updates every 48 hours. If we need additional documentation, we ask once — with a clear explanation of why.
4. Credit Committee & Approval
Every application is reviewed by our credit committee. Victor Nguyễn reads every loan application summary before final approval. Approved applications receive a detailed term sheet with all conditions, covenants, and fees disclosed in plain language. We walk you through it line by line.
5. Closing & Funding
The commercial loan closing package is prepared in-house and passes through our triple-review quality control process. Funds are disbursed into your VAN commercial account or directed per your instructions. Total timeline: 10–15 business days for standard facilities, 15–20 days for CSBFP, 3–5 weeks for complex C&I structures.
6. Ongoing Relationship
Lending doesn't end at funding. Annual facility reviews, proactive covenant monitoring, and facility expansion discussions are all part of the relationship. Many of our clients started with a $50K operating line and now maintain multi-product lending relationships exceeding $1M. Your named underwriter stays with you.
Lending Questions — Answered Directly
Possibly — and honestly, probably. Our startup micro-line provides $10K unsecured credit with a personal credit score minimum of 680. For larger facilities, we underwrite based on your cash conversion cycle, signed contracts, and sector benchmarks rather than demanding two years of audited financials. Marcus's team has approved operating lines for companies with as little as four months of operating history — when the contract backlog and receivables quality justified it. Every situation is different. A 15-minute pre-qualification call gives you a clear answer. Call (249) 845-5963 or submit a lending inquiry.
On variable-rate loans — no penalty, ever. On fixed-rate loans, the only penalty applies within the first 12 months: an interest-differential charge capped at 3 months' interest. After 12 months, there's no penalty on fixed-rate early repayment either. We designed it this way because punishing a company for doing well enough to pay off debt early is — and we mean this technically — backwards. Full early repayment terms are documented in our published rate schedules and in every term sheet we issue.
Receivables, inventory, equipment, real property, general security agreements, and contract assignments. For startups, we consider signed contracts and letters of intent as supporting documentation — they don't replace collateral, but they significantly strengthen applications with limited hard assets. Our collateral valuation summaries are prepared in-house by our lending team and reviewed with you before any commitment is made. For our startup micro-line ($10K), no collateral is required — just a personal credit score of 680+. Every situation is different — talk to us about yours.
Straightforward operating lines: 10–15 business days from complete application to funding. Complex C&I facilities with multi-tranche structures: 3–5 weeks. CSBFP government-backed loans: typically 15–20 business days, depending on documentation completeness. We assign a named underwriter from day one and provide status updates every 48 hours. No black boxes. No "we'll get back to you eventually." The single biggest factor in timeline is documentation completeness — which is why we provide a tailored checklist at the start of every engagement and explain exactly why each document is needed.
DSCR measures whether your business generates enough cash flow to cover its debt payments. We calculate it as net operating income divided by total debt service. Most lenders require 1.2x or higher — meaning your business produces 20% more cash flow than it needs to make all debt payments. We look at the full picture, including contracted future revenue and seasonal adjustments, which sometimes paints a very different picture than trailing financials alone. If your DSCR is below threshold on paper but your contract pipeline tells a compelling story, that's exactly the kind of nuance our underwriting process is built to capture. Our Resources library includes a detailed guide to understanding DSCR and how it affects your borrowing capacity.
Absolutely — and many of our clients do. A revolving operating line handles day-to-day working capital fluctuations, while a term loan provides fixed capital for a specific purpose like equipment or leasehold improvements. Under our C&I lending program, we can structure multiple lending instruments under a single umbrella with unified reporting and covenant requirements. This integrated approach is simpler to manage and often reduces your total borrowing cost compared to sourcing each component separately. Your named underwriter helps you determine the right combination based on your cash flow model and growth plans.
For most lending products, yes — we require a VAN commercial operating account as the primary deposit relationship. This isn't arbitrary: it gives us real-time visibility into your cash flows, which enables faster underwriting decisions and better ongoing facility management. The good news is that our commercial accounts come with features that most business owners find significantly better than what they had before — including integrated treasury tools, interchange-plus merchant processing, and same-day internal transfers. Account setup takes 6 business days on average.
Ready to Talk Numbers?
Whether it's a $50K operating line or a multi-million-dollar C&I facility — the first step is the same. One conversation. We listen. We ask questions. And we give you a straight answer on what's possible. No application fee. No obligation. Call (249) 845-5963 or use our online inquiry form.
Book a Lending Consultation — Free, No Obligation →Important Disclosures
VAN Online Business Plus Ltd. is a federally regulated financial institution operating under the oversight of the Office of the Superintendent of Financial Institutions (OSFI). Registration No. FRN-20140327-OB.
Eligible commercial deposits are protected by the Canada Deposit Insurance Corporation (CDIC) up to applicable coverage limits. CDIC Member Institution No. 1247.
Service fees may apply — see our Schedule of Fees for complete details. Fee schedules are reviewed and updated annually.
Merchant acquiring services comply with the Code of Conduct for the Credit and Debit Card Industry in Canada.
VAN Online Business Plus Ltd. Registered Office: 1501 Bank Street, Ottawa, Ontario K1H 7Z1.
Regulated by the Office of the Superintendent of Financial Institutions (OSFI). Subject to the Bank Act (Canada).