Greenbox Capital review

What is Greenbox Capital?

Greenbox Capital is an alternative lender that offers merchant cash advances, short-term business loans, equipment financing and invoice factoring. It specializes in financing for small and medium businesses across Canada and offers an easy online application process.

Once you fill out an online application, a Greenbox Capital funding advisor will contact you within one hour to discuss your financing options. If you decide to proceed with an application, you can get approved and funded within 24 hours.

Is Greenbox Capital legit?

Greenbox Capital was founded in 2012 and is headquartered in Miami, USA. It provides small business financing in the USA and Canada, including every Canadian province, and it’s a Canadian Lenders Association certified lender.

Greenbox Capital is also Better Business Bureau accredited with an A+ rating.

Types of Greenbox Capital business loans

Greenbox Capital offers the following loan options for Canadian businesses.

Small business loans

You can apply for a Greenbox Capital small business loan and get funded within 24 hours. Loans range from $3,000 to $500,000 are available.

Merchant cash advances

A merchant cash advance provides a lump sum payment in return for a set percentage of your business’s future credit and debit card sales. Advances of up to $500,000 are available, and you’ll typically need a minimum of $7,500 per month in sales over the past three months to qualify.

Collateral loans

Loan amounts ranging from $50,000 to $250,000 are available. To qualify, you’ll need to offer developed property that isn’t your primary residence as collateral. There are no restrictions on how the loan funds can be used.

Invoice factoring

Invoice factoring lets you sell your business’s unpaid invoices to access working capital. You can usually get 70%–90% of the value of your invoices up to $100,000, and you can get funded within one business day.

Equipment financing

Equipment loans provide the funds you need to purchase essential business equipment. Your business will need a strong track record and good credit history to qualify for funding.

Business lines of credit

A business line of credit provides access to a revolving credit limit as needed. Amounts of up to $500,000 are available, and you can use funds for any business purpose.

What we like about Greenbox Capital business loans

• Easy application process. Apply online for a Greenbox Capital business loan in less than five minutes, and get a response from Greenbox Capital within an hour.
• Lenient eligibility criteria. Your business’s credit history isn’t the only factor Greenbox Capital considers when assessing your application, so you might be able to qualify for funding even if you have less-than-perfect credit.
• Fast access to funds. You can apply for a Greenbox Capital business loan and get funded within 24 hours.
• Borrow up to $500,000. Loan amounts of up to $500,000 are available.
• Multiple loan types. There are multiple financing options available to suit the financial needs of different businesses.

What to watch out for

• High cost of borrowing. You’ll need to watch out for high interest rates, particularly if you have bad credit. For example, Greenbox Capital says that merchant cash advance factor rates usually fall between 1.1 and 1.5, which means you’ll typically need to pay back between 110% and 150% of what you borrow.
• Short terms. Greenbox Capital offers a range of short-term financing options for business, so you’ll need to make sure you can afford to budget for loan repayments before applying.
• Fees. You’ll need to check the fine print for details of any fees that may apply, such as origination fees and late payment fees.

Alternatives to Greenbox Capital business loans

1 - 3 of 3

Name	Product CAFBL	APR Range	Loan Amount	Loan Term	Minimum Revenue	Minimum Time in Business	Loans Offered	Broker Compliance
Journey Capital Business Loan		8% – 29%	$5,000 - $300,000	4 - 24 months	$100,000/year	6+ months	Term Loan, Line of Credit, Merchant Cash Advance		To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000. Journey Capital offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.	Go to siteMore Info Compare	loading Fetching your data...
Merchant Growth Business Loan		12.99% – 39.99%	$5,000 – $800,000	6 – 24 months	$10,000 /month	6 months	Unsecured Term, Line of Credit, Merchant Cash Advance		To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales. Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.	Go to siteMore Info Compare	loading Fetching your data...
Loans Canada Business Loan		6.99% - 46.96%	$500 - $500,000	3 - 60 months	over $10,000/month	9 months	Unsecured Term	Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year). Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.	Go to siteMore Info Compare	loading Fetching your data...

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Summary of Greenbox Capital reviews

Online customer reviews for Greenbox Capital are generally positive. Customers who left favorable reviews mentioned factors like an easy application process, fast funding and helpful customer service. Those who left negative feedback mentioned factors like loan fees and high rates.

Please note that the review scores in the table below are for Greenbox Capital’s US headquarters.

Customer reviews last verified on September 19, 2024.

Am I eligible for a Greenbox Capital business loan?

Your business will need to have been in operation for at least five months to qualify for a loan from Greenbox Capital. The lender will also consider the following factors when assessing your loan application:

• Credit history
• Business revenue
• Cash flow
• Vendor payment history
• Years in business
• Public records

How to apply for a Greenbox Capital business loan

You can apply for a Greenbox Capital loan by completing the following steps:

1. Visit the Greenbox Capital website and select Apply now.
2. Enter your desired loan amount.
3. Enter your business’s monthly revenue, time in business and company name.
4. Provide your name, email address and phone number.
5. Enter your province, industry and how you heard about Greenbox Capital.
6. Submit your application.
7. Greenbox Capital will contact you within an hour to discuss your application and borrowing options.

What documents do I need to apply?

You may need to provide the following information during the application process:

• Bank account statements from the past three months
• Credit card statements from the past three months
• Bank statements from the past three months
• A copy of your driver’s licence

You can speed up the application process by linking your business bank account using a service like Plaid.

Bottom line

Greenbox Capital is worth a look if you need fast business financing and may struggle to qualify for funding from a traditional lender. But you’ll need to check the interest rate and fees before signing a loan contract, so you know exactly how much your loan will cost. To compare business loan options and decide which one is best for you, check out our guide to small business loans.