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.
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.
One of the pioneers in Canada’s fintech lending space, OnDeck fills the financing gap to small businesses such as local hairdressers, restaurants and mom and pop shops – often underserved by the major banks.
Unexpected stuff happens to every small businesses. It can be an unplanned opportunity or an unexpected emergency.
And for alternative lender Company Capital, those are the stories they hear regularly from potential borrowers. One of the nation’s most successful fintech lenders, providing short-term loans to small businesses, its ability to scratch below the surface of a computer algorithm to understand its customers is what sets it apart.
The holiday season creates pressure to spend—but many people find themselves short of cash. Either way, the children still need their prezzies and people still want to make the holidays a special time for their families. With flexible short term loans, Magical Credit gives Canadians a better financial option to get through the spending-heavy holiday season.
One of the country’s leading fintech innovators, Borrowell is committed to helping their clients better understand their credit health by offering them the option to monitor their credit scores on a monthly basis – the first company in Canada to do so for free. They also provide free educational tools, such as a seven-week email course, to help customers learn and understand what they need to do to improve their score.
Ferratum now offers customers micro loans from $100 to $1,000 for a term of up to 62 days to help Canadians get back on track financially.
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.
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.
Borrowell is a fintech startup based in Toronto that uses technology to make financial services fast, fair and friendly. Along with offering Canadians access to their credit scores for free, Borrowell believes Canadians deserve more choice and more transparency when it comes to their personal finances.