Clearbanc Review 2020

Clearbanc Review 2020

Reading Time: 2 minutes(Last Updated On: July 27, 2021)

  • Established 2015
  • Address Toronto, Canada
  • Trustpilot Score 4.4
  • Loan Period Determined Case-by-Case
  • Loan Range $10,000 – $10,000,000


  • Business loans average $500,000

  • Fast funding decisions

  • No impact on credit score


  • Provides advances only

  • Currently only servicing
    e-commerce and consumer
    SaaS businesses

Bottom Line

Clearbanc is limited in the products it offers as it only offers Merchant Cash Advances and the business types that qualify are limited to e-commerce, however they generally offer larger-sized loans with fair interest rates.

For e-commerce businesses looking for unsecured business funding, they should try a different e-commerce funding solution

For businesses that are not e-commerce specific, try using a business loan marketplace such as that offered by Become (with over 50 lenders) to compare all of their available funding options.

Who are Clearbanc?

Clearbanc are a Canada-based lending company founded in 2015. They focus exclusively on providing e-commerce and consumer SaaS businesses with advances of up to $10,000,000. 


What We Like Best

  • Funding in as little as 24 hours

  • Flat repayment fee

  • No impact on credit score

Which services does Clearbanc offer?

Type of Loan: Advance

Repayment Terms: Daily

Amount: $10,000 – $10,000,000

Interest rates: 6%-12%

What do you need to apply?

  • Minimum monthly revenue of $10, 000

  • Minimum 6 months of consistent revenue history

  • Business must be incorporated (i.e. corporation or LLC)

  • Must be an e-commerce or consumer SaaS business

How does the application process work?

Applying for an advance from Clearbanc is fast and easy. You connect your business Facebook account (including Facebook Ads) and bank account and receive an offer based on your business’s performance.

Is Clearbanc trustworthy?

Clearbanc uses military-grade encryption to keep its clients’ information secure. They also limit their own access to read-only, meaning they don’t have access to any accounts.

Customer support

Clearbanc offers customers support through email, phone, and by Facebook Messenger. According to their Facebook page, they typically reply within a day.


Final verdict

Clearbanc is a great option for business owners who run an e-commerce or consumer SaaS business and need access to fast funding with transparent repayment terms. Clearbanc, however, only offer Merchant Cash Advances.
For e-commerce business looking for Unsecured Loans, they should try another option such as an e-commerce Line of Credit.

Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.