How to apply for Receivable (Purchase Order or Invoice) Financing with Loop
You can have access to PO/Invoice Financing in about a week by completing the following steps:
- Register with Loop - https://app.getloop.ca/register
- Note: Please select “Without Credit” if you are applying for PO Financing.
- Link an external bank account.
- Instructions: How to connect your bank account to Loop
- Connect your CRA to Loop.
- Instructions: How to connect your CRA to Loop
- Email the following documents to financing@bankonloop.com
- Master vendor agreement w/ your customer(s)
- Purchase orders and/or invoices to be financed
- Supplier invoices associated with orders above
- Current year financial statements
- Your CRA Business Number
How long does the process take?
The end-to-end process of applying to getting access to funds can take 1-2 weeks depending on the underwriting and due diligence complexity. In most instances, we are able to complete this process in less than 1 week.
For a refresher on Receivable Financing, pre-requisites and financing terms, please click here.