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Can a startup get a loan with no revenue?
Yes. While traditional banks prefer established revenue, startup-focused lenders and government programs assess your business plan, personal credit and projections instead. In fact, the Canada Small Business Financing Program directs the majority of its lending to businesses less than a year old.
Best funding options for startups
- Canada Small Business Financing Program (CSBFP): government-backed loans up to $1.15M, friendly to startups.
- Online startup loans: faster approval based on personal credit and a solid plan.
- Business credit cards & lines of credit: flexible early-stage financing.
- Government grants & programs: non-repayable funding such as IRAP for R&D-driven startups.
- Personal loans for business use: an option when the business has no track record yet.
What you’ll need to qualify
- A detailed business plan with realistic financial projections
- Good personal credit (commonly 650+)
- Proof of any existing income or investment
- A clear explanation of how funds will be used
- A business registered and operating in Canada
How to apply step by step
- Write a focused business plan with a 12-month cash-flow forecast.
- Check and strengthen your personal credit.
- Decide how much you genuinely need to launch.
- Compare startup-friendly lenders and government programs.
- Submit your application with complete documentation.
Tips for new founders
Start by separating business banking from personal accounts to begin building business credit. Consider stacking options — for example, a small CSBFP loan plus a grant. And borrow conservatively: a lean launch with a manageable repayment beats over-borrowing before you’ve proven the model.
Frequently asked questions
Do I need collateral as a startup? Not always — some startup loans and grants don’t require it, though larger loans might.
Are grants better than loans? Grants don’t need repayment, but they’re competitive and often industry-specific.
How much can a startup borrow? From a few thousand dollars up to $1.15M via the CSBFP, depending on the plan.
Launch with the right funding. Compare startup loan options →
Disclaimer: LoanWave.ca is an affiliate / comparison website. We are not a lender and do not provide loans. We may earn a commission from partners. Rates and terms are set by lenders. Informational content only, not financial advice.