Magical Credit Helps Canadians Break the Payday Loan Cycle
Those who have taken out a payday loan know how easy it is to get into a cycle of debt, and how difficult it is to break free. Magical Credit helps Canadians break the vicious payday loan cycle by offering a much more affordable and convenient option.
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Evolocity Brings Speed and Efficiency to Small Business Lending
Today, small businesses looking for a loan or cash advance of $10,000 to $250,000 only need to spend about 8 minutes on the Evolocity website, and if approved will receive a loan within 48 hours, no pen or paper required. In fact, the entire process can be completed on a mobile device.
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OnDeck to Expand Successful SMB Lending Platform in Canada
Since its first loan in 2007 OnDeck has received stellar reviews from third party rating systems, including an A+ rating from the New York Better Business Bureau, a Net Promoter Score of 73 and a rating of 9.5 out of 10 in customer reviews on TrustPilot. The company is also listed on the York Stock Exchange under the symbol ONDK, and market insight publication Seeking Alpha recently called OnDeck a “fast growing fintech with revenue growth projected at 30% for the next few years.”
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Borrowell Finds Early Successes With All-Star Backers
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.”
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