Overview
- Interest Rate: Typically 12% annual interest rate applied to your balance (a 10% promotional rate applies if your loan paid off an existing Canada Line of Credit balance).
- Monthly Minimum Payment (MMP): Due monthly and must be paid manually via Interac e-Transfer from your Canadian bank account. Automatic withholdings from payouts do not cover, reduce, or satisfy your required MMP.
- Automatic Repayments: Automatically deducts 25% from net commissions and 15% from Revenue Share earnings directly from payouts until your balance is fully repaid, helping you pay off your loan faster.
- Late Fees: Assessed if your MMP is missed and not received within the 15-day grace period following the due date. Late fees are strictly tied to missed MMPs—not automatic Commission or Revenue Share collections.
How to Make a Manual Payment (Interac e-Transfer)
Pay your loans with Interac e-Transfer straight from your preferred Canadian bank account. Manual payments can be used for your required Minimum Monthly Payment (MMP), late fee settlements, or voluntary loan paydowns:
-
Recipient Email:
canadacapital@therealbrokerage.com -
Required Message Format:
[Your Full Name] [PROVINCE ABBREVIATION] Cap
Example:Jane Smith ON Cap
Note: Transaction limits may apply depending on your financial institution. If you have questions regarding e-transfers, please reach out to wallet@therealbrokerage.com.
Monthly Minimum Payment (MMP) Details
- Due Date: Due on the 10th of each month.
- Payment Method: Must be initiated manually via Interac e-Transfer from your Canadian bank account.
- Calculation: 2% of the previous month’s ending balance or $50 CAD, whichever is greater.
- Grace Period: You have 15 days from the due date to submit payment before a Late Fee is applied on the 16th day after the due date (e.g., payment must be received by June 25th).
Example:
- Taylor’s loan balance at the end of May is $15,000 CAD.
- Calculation: 2% of $15,000 = $300 CAD (greater than $50 CAD).
- Requirement: Taylor must pay $300 CAD via Interac e-Transfer by June 10th to stay in good standing. If the payment is missed, Taylor will incur a Late Fee on June 26th.
Automatic Repayment Details
To help you pay down your loan faster and save on interest, automatic repayments conveniently apply a portion of your earnings directly toward your principal balance until it's fully paid off:
- Net Commissions: 25% deducted automatically.
- Revenue Share Earnings: 15% deducted automatically.
Note: If your remaining loan balance is less than 25% of your next commission payout or 15% of your next Revenue Share payout, only the remaining balance owed will be deducted.
Example:
- Taylor has an outstanding loan balance of $50,000 CAD and a monthly minimum payment of $1,000 CAD due for June.
- On June 1st, Taylor closes a deal with a $10,000 CAD net commission payout.
- An automatic 25% deduction ($2,500 CAD) is applied directly to the loan balance, reducing it to $47,500 CAD.
- Requirement: Because automatic deductions do not count toward or satisfy the minimum payment rule, Taylor is still required to pay the $1,000 CAD MMP via Interac e-Transfer for June.
Late Fee Details
Late fees are tied strictly to your Monthly Minimum Payment (MMP). If your MMP is not received within 15 days of the due date, a late fee will be assessed on the 16th day. Automatic collections from Commissions or Revenue Share do not trigger or prevent late fees. Please refer to your loan agreement for specific late fee amounts and terms.
Legal Disclosures
Terms and conditions apply. Real Wallet Capital is a business loan product offered by Real Broker Lending Canada LTD. Loans are for business purposes only and may not be used for consumer or household purposes. Pre-approval is not a guaranteed offer of credit and is reassessed periodically and in real-time based on your business history and account status with The Real Brokerage. Eligibility is subject to the absence of outstanding commission advances or brokerage debts at the time of your request. Final approval is subject to eligibility verification, including review of outstanding advances, brokerage status and debts, account status, and ability to repay. Funds typically arrive within 1 to 3 business days following final approval; transit times are dependent on external financial institutions and are not guaranteed. See important information here: onereal.link/wallet-terms.