Fees and interest rates for merchant cash advances in Canada can vary depending on the provider and the specific terms of the loan agreement. Instead of a traditional interest rate, MCAs use a factor rate, which is multiplied by the advance amount to determine the total pay back amount. Factor rates typically range from 1.1 to 1.5, which can translate to higher costs compared to regular loans. It's essential to carefully review any hidden fees and factor rate associated with your MCA before agreeing to the terms to ensure you are fully aware of the payback amount.