The Canadian Lenders Association (CLA) supports the growth of fintech companies that are in the business of lending. They represent and advocate for over 200 companies across Canada that participate in SMB, BNPL, consumer, home, auto, and mortgage sectors.
Contact information
hello@canadianlenders.org
120 Albany Ave, Toronto, ON, M5R 3C4
Availability:
Everywhere in CanadaSupport Offered:
- Call Centre
- Email Inquiry Submission
- Social Media
- Blog
- Newsletter
Call Center:
Mon - Fri, 9AM - 5PM ESTProducts Offered
Below are all the products offered by this company.
CLA Membership
The Canadian Lenders Association Summary
The Canadian Lenders Association (CLA) is a borrower-centric organization and represents the voice of the consumer and small-business owner.
Members
The CLA represents Canada’s fintech lending community. All lender-class members are vetted and accredited based on their corporate standards and values.
CLA Certification Criteria
- Must comply with the regulatory environment that protects business and consumers from predatory practices.
- The member company and any related entities, must not participate in Canada’s payday loans industry, in any province or territory in Canada.
- Must report their respective lending tradelines to Lenders API, Equifax and Transunion Canada consumer credit profiles.
- Must uphold CLA Lenders Values.
CLA Lender Values
- Financial Innovation
- Financial Inclusion
- Regulatory Certainty
- Regulatory Consistency
Pricing
CLA Member’s membership is determined by capital under management:
- Up to 25 million = $3,800.00
- 25 – 50 million = $4,750.00
- 50 – 100 million = $7000.00
- 100 – 250 million = $9,800.00
- 250 – 500 million = $13,000.00
- 500m – 1 billion = $19,000.00
- 1b – 100 billion = $22,000.00
- 100 billion + = $26,000.00
CLA also offers non-lender memberships to vendors and suppliers to the industry.
Frequently Asked Questions About Canadian Lenders Association
What is the Canadian Lenders Association?
What does the Canadian Lenders Association do?
The CLA works to provide credit product resources and inform the consumer on how best to graduate to higher credit scores.
What aspects of the Canadian lending ecosystem does the CLA represent?
The CLA represents all aspects of Canada’s lending ecosystem including: policy, advocacy, standards, and innovation. The CLA's role is to support the highest level of lending in Canada.
How many newsletter subscribers does the CLA have?
You can join the over 5 thousand fintech and lending executives who read the CLA's monthly news briefing by subscribing to their newsletter on their website.
Is the CLA safe?
The CLA has doubled in size each year, and now counts a number of major financial instructions amongst its members. In fact, in 2020 an executive from one of Canada’s “Big Five” banks, the Bank of Montreal (BMO) joined the CLAs board.
What does the Canadian Lenders Association member's do?
Many of the CLA's lenders offer loans to individuals who are new to credit, have little credit history or are temporarily going through difficulties financially but are likely to repay their debts.
What's a CLA membership like?
One of the pillars of CLA membership is innovation. CLA members are moving the needle in a myriad of ways that incumbent lenders, due to the stage of their business, are simply not built to do. Member innovation is improving the accuracy of underwriting so Canadians receive credit they are financially equipped to pay back.
What are some CLA Member benefits?
There are multiple CLA member benefits including: 1. Lender certification and membership accreditation 2. Government relations advocacy and support 3. Access to leadership roles on the board, committees, round tables and task-force initiatives 4. Free integration for Lenders API, data exchange service and more.
What are some examples of the CLA's Non-Lender Members?
Prospective non-lender members must agree to support the Canadian Lenders Association (CLA) purposes and conduct themselves in accordance with the mission. Composed of those companies that provide best-of-class services that are non-lenders include: 1. Corporate finance / Investment banks, 2. Law firms / Accounting firms, and 3. Fintech Vendors.
Canadian Lenders Association Reviews
Avg. Rating: 5.0 (1 review)
Excellent Organization
October 22, 2021
“CLA is a collection of Canada's top lenders, fintechs, banks and other companies that are collectively moving the financial industry forward in Canada. Smarter Loans is a proud member of the association and we appreciate all the work they are doing for the lending community. ”
