Frequently asked questions.
Straight answers about the PHB platform, applying, eligibility and partnering.
About PHB
What is PHB?
People Helping Businesses is a financing platform for Canadian businesses. You see if you qualify in under a minute, get approved by lenders that finance businesses like yours, and get funded with a real person guiding you the whole way.
Does PHB lend the money?
No. PHB matches you with third-party lenders and manages the process. The lender you choose provides the financing and makes the credit decision.
Where does PHB operate?
PHB works with businesses incorporated in Canada.
Applying
How do I apply?
Click Apply now. Answer three quick questions, then complete the application. It takes about ten minutes.
Will applying affect my credit score?
Checking your eligibility doesn't involve a credit check. A lender may check your credit when it reviews your full application, and we'll tell you before your file goes to a lender.
Is there a cost or obligation?
There's no cost to apply and no obligation to continue. Nothing is signed until you accept an offer.
What documents will I need?
Usually recent business bank statements. For equipment, a quote or invoice. For larger amounts, financial statements.
Requirements
Who can apply?
Businesses incorporated in Canada with a Canadian business bank account, at least six months in business, $120,000 or more in annual revenue and a credit score of 600 or higher.
What if I don't meet every requirement?
Talk to us anyway. We'll tell you plainly whether we can help, and what would change that.
Financing options
What can I finance?
Equipment of any kind, new or used, plus working capital and business loans for expansion, renovation or acquisition.
How much can I get?
It depends on your business and each lender's programs. Most requests through PHB fall between $10,000 and $500,000.
How do I choose the right product?
You don't have to know. Your advisor will match your needs to the products and lenders that fit.
Partners
Who can partner with PHB?
Dealers and vendors, brokers, and referral partners such as accountants, bookkeepers and advisors. Each gets the PHB platform from their side of the deal.
How do partners get paid?
Any compensation is set out in a written partner agreement before referrals begin.
