Turned away by banks and credit unions? Journey Capital (www.journeycapital.ca) can be a solid choice for small to medium-sized businesses looking for flexible funding solutions. They offer several business financing options, including term loans, lines of credit, and flexible repayment options such as Flex Funds.
- Funding in as little as 24–72 hours
- Loans from $5,000 to $500,000
- Minimum credit score: 600+
- No hard credit check to apply
- Rates as low as 8% for qualified borrowers
- Great reviews on Google (4.7) and Trustpilot (4.9)
Brief Overview of Journey Capital:
- Name: Journey Capital (formerly known as OnDeck Canada)
- URL: https://www.journeycapital.ca/
- Rates offered: they vary widely, from 8% to 29% in general (n.b.: that’s taken directly from their website). During our review of this company, they said they can currently offer 6 months term at 11% or lower. They said their rates can go lower than 11% if the credit file is good and the business has a solid history.
- Minimum credit score: 600 and above.
- Google Reviews: 4.7/5 stars (137 Google reviews)
- TrustPilot Reviews: 4.9/5 stars (96 reviews)
Based on our research, Journey Capital seems to have received some very positive reviews about their service, which is encouraging.
📋 Basic Requirements to Qualify:
- Minimum 6 months in business
- Gross annual revenue of $100,000+ (Flexible)
- Credit score of 600 or higher
- Requested loan amount between $5,000 – $500,000
📎 Documents You’ll Need:
- Signed application form
- Last 3 months of business bank statements
- Voided cheque + valid government ID
- Proof of business premises
Want to Learn About Their Rates? Check If You Qualify First.
Pros & Cons
No lender is perfect. It’s important to understand the pros and cons of the company you plan to get financing from. Based on our review, here are the pros and cons of using Journey Capital:
Pros:
- Fast Funding: This is where they shine. Journey Capital typically provides funding within 24 to 72 hours, making it ideal for businesses needing a quick capital injection.
- Journey Capital is a direct lender, NOT a broker — which means faster approvals, more transparency, and no third-party markups.
- Easy-to-use customer portal: Manage your loan, track repayment, receive personalized offers, and control your line of credit — all in one place.
- Lower Credit Requirements: They offer financing options for businesses with less-than-perfect credit (minimum 600) making them accessible to a wider range of small businesses.
- Clients can even combine financing options — such as pairing a term loan or Flex Funds Advance with a line of credit — for even more flexible capital access.
- Diverse Financing Options: Journey Capital provides multiple products, including merchant cash advances and term loans, allowing businesses to choose based on their needs.
- Simplified Application: The application process is straightforward and often requires less paperwork compared to traditional banks.
Cons:
- Higher Interest Rates: Just like with any other alternative business lender, interest rates can be significantly higher than traditional loans, particularly for businesses with lower credit scores or no credit history.
- Shorter Repayment Terms: This can either be good or bad, depending on what you are looking for. Their business loans often come with short-term repayment schedules, which may create pressure on cash flow.
- Potential for High Fees: Some businesses report additional fees, including late fees and non-sufficient funds (NSF) fees, which can increase the overall cost of borrowing. Check with them, ask about all their fees and make sure you get everything in writing.
Key Details About Their Loans:
- NSF (Non-Sufficient Funds): Having more than 5 NSFs in a month may automatically trigger a decline for your business.
- Deposit Frequency: Your business account must show at least 8 deposits per month.
- Financial History: Ensure you have no bankruptcies, foreclosures, collection accounts, or civil judgments in the past 2 years.
- Other Loans: If you have an outstanding balance from other lenders, you’ll need to provide those statements.
- Large Financing Requests: For amounts over $100,000, you must present financial statements, including a balance sheet and income statement.
Journey Capital’s Financing Products:
- Financing Range: $5,000 to $500,000.
- Products Available: Business Term Loan, Flex Funds Advance, Line of Credit.
- Loan Term: 4 to 24 months.
- Funding Speed: In as little as 24 hours.
Typical Journey Capital Customer:
We asked them about their typical customer, and this is what they have provided as far as their typical customer goes:
- Time in Business: 4+ years.
- Gross Annual Revenue: $500,000.
- Credit Score: 600+.
Journey Capital’s Detailed Review:
- Loan Types:
- Business Term Loans: You can borrow between $5,000 and $500,000, with fixed, predictable repayments. This option suits businesses needing a more structured loan.
- Business Line of Credit: Unlike many alternative lenders, Journey Capital offers a true revolving line of credit, where each draw consolidates into a single repayment schedule — making it easier to manage than multiple micro-loans. Offers flexibility, allowing you to borrow up to $500,000 and only pay for the amount you use, making it ideal for fluctuating cash flow needs.
- Flex Funds Advance: Tailored for businesses with seasonal revenues, this option provides variable terms that align repayments with business ebbs and flows.
- Fast Funding: Journey Capital prides itself on quick funding, with approvals in as little as 24 hours. Upon approval, you can transfer funds instantly, which is a major plus for businesses needing immediate cash flow solutions.
- Credit Requirements: They offer relatively accessible credit options, with a minimum credit score of 600, making it easier for businesses with average credit to qualify.
- No Hard Credit Pull to Apply: Initial applications only involve a soft credit check, which does not impact your credit score, providing a low-risk way to explore funding options.
- Customer Feedback: Journey Capital has a strong reputation, with excellent customer reviews on platforms like Trustpilot, indicating high levels of customer satisfaction and reliability in their services.
Journey Capital vs Competitors
Let’s compare Journey Capital versus other Canadian small business lenders such as Merchant Growth, Swoop Funding, Driven Financial and others.
| Feature | Journey Capital | Merchant Growth | Swoop Funding | Driven Financial |
|---|---|---|---|---|
| Loan Types | Term Loans, Flex Funds, Revolving Line of Credit | Term Loans, MCA, Flex Financing | Bank + Alt Loan Matchmaking | Term Loans, Equipment Financing |
| Loan Amount | $5,000 – $500,000 | $5,000 – $800,000 | $5,000 – $5M+ | $10,000 – $250,000 |
| Funding Speed | 24–72 hours | 24–72 hours | 1–5 business days | 24–48 hours |
| Minimum Credit Score | 600 | 550 | Varies (depends on matched lender) | 500–600 |
| True Line of Credit | ✔️ Yes (revolving & consolidated) | ❌ No (not true revolving) | ❌ No (matches to LOC providers) | ❌ No |
| Broker or Direct Lender? | ✔️ Direct Lender | ✔️ Direct Lender | ❌ Broker / Marketplace | ✔️ Direct Lender |
| Customer Portal | ✔️ Yes (manage loans, offers, LOC) | ✔️ Yes | ❌ No central portal | ✔️ Limited dashboard |
| Pre-Qual Without Hard Pull? | ✔️ Yes | ✔️ Yes | ✔️ Yes (depends on lender) | ❌ No |
| Dual Financing Options | ✔️ Yes (combine LOC + Loan/Flex) | ❌ No | ❌ Depends on matched lenders | ❌ No |
| TrustPilot Rating | ⭐ 4.9 / 5 | ⭐ 4.7 / 5 | ⭐ 4.8 / 5 | ⭐ 4.6 / 5 |
Last Considerations:
With Journey Capital, just like with any other alternative financing company, interest rates for business term loans can range widely, from 8% to 29%, which can be on the higher side for businesses with weaker credit scores.
We strongly recommend that you improve your credit score to access the best loan terms. However, for businesses with strong credit, they can offer competitive rates.
This business lender focuses on serving Canadian businesses, so it isn’t an option for those outside of the country.
Overall, if you’re a Canadian business looking for fast, flexible funding, and you’ve had no luck with your local bank or credit union, Journey Capital is a great second option. This is especially true if you have moderate credit and need a quick infusion of capital to grow your business.
Lastly, we want to remind you that it’s important to compare their interest rates and terms with other lenders to ensure you’re getting the best deal. For instance, you can compare rates and terms with other lenders, such as Merchant Growth, Alterfina, the RBC, BDC or others.
💬 Final Thoughts:
If traditional banks are turning you down or you need funds fast, Journey Capital is a strong contender. Their quick turnaround, flexible repayment terms, and high approval rates make them a favorite among Canadian business owners.
Still not sure? Visit their site to check your rate — it won’t affect your credit score.
Check Your Eligibility at Journey Capital
Frequently Asked Questions (FAQ) About Journey Capital
1. What types of financing does Journey Capital offer?
Journey Capital offers three main products: Business Term Loans, Business Lines of Credit, and Flex Funds Advances. Each product is tailored to meet different business needs—from structured repayments to flexible, seasonal financing.
2. How fast can I receive funds?
According to their website, most approved applicants receive funding within 24 to 72 hours of submitting their completed application and documentation.
3. Will applying affect my credit score?
No. Journey Capital only does a soft credit check during the initial application, which does not impact your credit score.
4. What is the minimum credit score to apply?
Journey Capital generally requires a credit score of 600 or higher. That said, stronger credit profiles may qualify for better rates.
5. Are Journey Capital’s loans secured?
No. Journey Capital provides unsecured financing, meaning you don’t have to offer collateral like property or equipment to get a loan, unlike alternative lenders like Swoop Funding for instance who may require you to do so.
6. Are there any hidden fees?
Some borrowers report fees such as NSF (non-sufficient funds) charges or late fees. It’s important to ask for a complete fee breakdown before signing.
7. Can I repay early?
Yes. Many business owners choose to repay early to save on interest. Ask Journey Capital about prepayment policies to confirm if there are any early repayment fees.
8. What documents are required to apply?
You’ll typically need:
- Completed application form
- 3 months of business bank statements
- A void cheque
- Valid government-issued ID
- Proof of business location (lease or ownership)
9. Who is Journey Capital best for?
Canadian businesses that need fast funding, have been operating for at least 6 months, and have annual revenue of $100,000+. They’re especially useful for companies that can’t qualify for traditional bank loans.
10. Where can I apply?
You can apply directly on their website: www.journeycapital.ca
See if you qualify with JC
If you want to learn more about what rate and terms you would qualify for with Journey Capital, visit this page: https://www.journeycapital.ca/
Lauren has over 13 years of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor's degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.
