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One insurance provider is following the self-service trend, providing Ontario residents with an opportunity to save on home and car insurance by cutting out the broker and doing it themselves. Founded in Toronto in 2018, Onlia provides a more affordable and more flexible insurance option for Canadians who want to avoid the added hassle and expense of dealing with a broker.
Jared Lindzon
Personal Finance
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One of Canada’s newest small business lenders is using the latest technologies to offer clients a more seamless financing experience, designed to meet the challenges of an uncertain economy.
Jared Lindzon
Business
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Canada’s lending ecosystem is often viewed through a fragmented lens, where FinTech companies, financial institutions, and “alternative lenders” each play a unique and distinct role. Gary Schwartz, the president of the Canadian Lenders Association (CLA), however, doesn’t quite see it that way.
Jared Lindzon
Industry News
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“Our mission is to offer alternative financing in the merchant cash advance space,” explains co-founder Adam Benaroch. “Our underwriting guidelines are not based on credit
Jared Lindzon
Business
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It's almost too good to be true, but that's what we love about our business; we get to help people realize their home buying dreams, and do it in a way that saves them a lot of time, money, and confusion.
Jared Lindzon
Buying a Home
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As the world eagerly anticipates an end to the Covid crisis, Merchant Growth is preparing to offer new and more dynamic loan products to small business customers across its Canadian marketplace.
Jared Lindzon
Business
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Today, Eastern Loans offers personal loans of between $500 and $1,000 to Canadians based anywhere other than Quebec and Saskatchewan, with competitive rates that differ between provinces.
Jared Lindzon
Personal Finance
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Moves Financial, which was founded by a group of blockchain developers and emerging technology researchers, was getting ready to offer gig economy workers easy access to financial products later this year. They knew that such services were especially valuable to those with inconsistent incomes, as they are often denied access to traditional financial products.
Jared Lindzon
Personal Finance
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“I very much respect Canadian businesses, and we love doing business with them,” explains founder and chief executive officer Jordan Fein. “Our footprint is only going to grow in Canada, and we're going to continue building that trust in a much bigger way.”
Jared Lindzon
Business
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“We've taken it from a one-to-one bartering concept to a one-to-many, and we do all the work,” says Porter. “It's solving this problem for businesses, turning what we call ‘business waste’ into value.
Jared Lindzon
Business
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The line between traditional and so-called “alternative” lending got blurrier today as the Canadian Lenders Association announces the addition of Lyla Kanji—the Head of Loan Syndication and Specialty Finance, Canadian Commercial Banking at BMO Financial Group—to its board.
Jared Lindzon
Industry News
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The Toronto-based payday lender, which has been offering Canadians speedy loans since 2012, has built a reputation for providing safe and reliable loans in a hurry.
Jared Lindzon
Personal Finance
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ConsumerCapital may be relatively new in the Canadian alternative lending ecosystem, but the company is already focused on establishing long-lasting relationships with its customers.
Jared Lindzon
Personal Finance
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After 14 years supporting restaurants and food service providers in Canada, and with a wide range of products to choose from, Econolease’s sales staff is able to determine what lease, loan or rental product best fits each customer’s unique situation.
Jared Lindzon
Business
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Rather than considering the credit rating of the borrower, Lending Mate provides guarantor loans, which only requires the borrower to have a qualified friend or relative vouch for their ability to pay it back.
Jared Lindzon
Personal Finance
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For nearly a decade, Toronto-based iCapital has been providing capital to Canadian small business owners of all shapes and sizes from coast to coast. Unlike traditional loan products, however, their merchant cash advance has absolutely no deadlines, no late fees, and is only paid out when small business owners are making money themselves.
Jared Lindzon
Business
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Being the country’s oldest and largest equipment finance broker has its advantages. Founded over 15-years ago, Brampton, Ontario-based Peel Financial has the largest group of credit analysts in the country, offering a wide range of equipment financing options primarily to the trucking and transportation industry.
Jared Lindzon
Vehicles
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While some short-term lenders seek to keep their customers on a cycle of payday loans with high interest rates, the Kingston-Ontario based alternative lender strives to get its customers back to borrowing at lower rates from the banks. “The goal for us is to help that client to not have to borrow with us,” said SkyCap Financial president Jeremy Wilson. “We want the client to get back to being able to borrow with a bank.”
Jared Lindzon
Personal Finance
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Little over a year ago, there was no leading voice in the “alternative” lending space in Canada; no industry association to advocate on its behalf or network to help establish and spread best practices. Fortunately, those resources are now available to the industry through the Canadian Lenders Association (CLA), an industry association dedicated […]
Jared Lindzon
Industry News
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As businesses grow from startups to success stories they often look to new markets where they can expand their operations. After eight years building a reputation as a reliable and friendly business lender in Canada, however, Merchant Advance Capital is instead growing the suite of products and services it offers its existing client base in the Great White North.
Jared Lindzon
Business
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Private car sales often had to take place through unverified ads on online public forums; there was no financial assistance of any kind, nor any inspection of the vehicle by a licensed professional, and certainly no way to guarantee the safety and security of either buyer or seller.
Jared Lindzon
Vehicles
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Rather than spending countless hours preparing applications and business plans only to wait weeks or even months to find out if they qualify for a bank loan, small businesses across Canada are now able to visit Lendified.com and get funded in as fast as 48 hours.
Jared Lindzon
Business
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Cashco now offers customers installment or “flex” loans from $500 to $7,000 for a term of up to 60 months to help them make ends meet without having to turn to a payday loan provider.
Jared Lindzon
Personal Finance
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Magical Credit, the short term lender known for helping its customers get out of the payday loan cycle through manageable low monthly payments, has added a new product to its offering for those farthest in the deep-end.
Jared Lindzon
Personal Finance
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After providing small businesses with impossibly low lending rates while bringing high returns to everyday investors in places like China, the United States and the UK, peer-to-peer lending has finally made its way to Canada.
Jared Lindzon
Personal Finance
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The startup’s star studded team of investors and advisors includes former Dragon on CBC’s Dragons’ Den and author of the Wealthy Barber David Chilton, former dean of the Rotman School of Management Roger Martin, and the president of the Ranson Group, Sharon Ranson. “They have to find the capital, and you know that anybody providing the capital, they have to be incredibly thorough in their due diligence to make sure the Borrowells of the world are well run, have the proper security in place, have a great management team and so on,” said Mr. Chilton. “They've done an excellent job in that and in establishing a lot of relationships.”
Jared Lindzon
Personal Finance
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