As far as being in the Canadian market about four years, and
it's very similar to the United States market where small
business owners coast-to-coast, they do need financing help,
they just don't know where to turn.
I think our industry, small business lending online is
really about convenience and efficiency for borrowers who
don't have much time looking for a loan. Well with us we'll take
about 24 hours to 48 hours.
Well, the Canadian consumer is hungry for more options. They're
looking for new innovative solutions that can help them
with their business financing, as well as on the personal side.
So to me, it's not surprising that now that there are so many
more companies out there offering such innovative
products that the Canadian market is gravitating towards
it, and it's on the rise here.
It's been around for more than 10 years. But believe it or not,
it's early days, 10 years ago, FinTech was still fax machines
and so we think now is like the future and everything has been
done. But it's really just the beginning.
I think it's a market that's in its infancy, compared to the US
it's getting more structure, more lenders are opening shop
and the consumers through different platforms, like
Smarter Loans, for example, are helping you get a better
understanding of the options available to small business
owners in terms of funding
It's something different. When you walk into a bank, you're
obviously dealing with a person, you're dealing with documents
that need to be hand signed and notarized. When business owners
work with us. It's all over the phone and via email.
Canadians are really warming up to the idea of alternative
lending. What we're trying to do is raise awareness about some of
the great companies and some of the innovative products that are
available to them through our platform Smarter Loans,
As far as the entire market. It's growing day by day, week by
week. It's not as fast paced as it is in the States, just due to
the population. But overall, we're helping business owners
day to day, and I can only see the market getting obviously
clearer. But with technology on the rise, there's going to be
some really cool things happening that allow business
owners either in the morning before they go to work or late
at night, apply for financing and receive the funding they
need.
There are a lot of similarities between here and the United
States. The growth has been very similar, but at the same time,
there's a lot of untapped potential in Canada. And I think
that there are marketing tactics and strategies that can be
applied here to really unlock even a ton more growth than what
has already been done.