Float Charge is an innovative financial product that combines the best features of a credit card and spend management software into one solution. It offers an interest-free credit limit with the flexibility to spend and settle your balance on 15-day or 30-day cycles, plus auto-repayments that pull funds directly from your bank account at the end of each cycle. With separate account statements for your Cash and Charge accounts, managing your spending has never been easier.
For more information about Float Charge and its use, you can refer to our Float Charge FAQ.
How to qualify for Float Charge:
- Is currently a registered Canadian company (partnership or corporation)
- Have cash / GIC equivalent of $50,000 CAD on hand consistently
- Charge limits start at $10,000, and all customers are expected to utilize at least 70% of their approved limit
- 12+ months of operating cash or consistently profitable and cash flow positive
- Exclusions: Non-profits, cryptocurrency businesses
Not sure if you'll qualify or if Float Charge is right for you? Click here to try our interactive Funding Calculator!
How to apply for Float Charge:
- Log in to app.floatfinancial.com
- Navigate to Accounts > Scroll to the Charge Application section
- Click Apply Now > Start Application
- Follow the prompts to submit your application
If you have any further questions or wish to learn more about Float Charge, read more HERE or contact us through the "Submit a request" link on help.floatfinancial.com for more information.
The application and underwriting process:
We offer two application pathways based on your expected monthly spend:
1. Expedited applications
Depending on your business profile and expected spending needs, you may qualify for our expedited application process. This typically requires only your most recent 3 months of bank statements, allowing us to review your application more quickly.
2. Standard underwriting
If you don’t qualify for our expedited application process, you'll go through our standard underwriting process. This includes:
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Providing the requested documentation
- Most recent annual and YTD financial statements
- Most recent 4 months of bank statements (for both CAD & USD if applicable)
- An internal underwriting review
- A quick due diligence call with you
Why are these documents necessary?
These documents are standard for credit underwriting and help us:
- Verify your business's eligibility for Float Charge
- Determine an appropriate credit limit based on your financial profile
If you encounter difficulties in providing these documents, you can reach out to your account representative for assistance, or support@floatfinancial.com to inquire on your next steps.