Canada

Bank, Auto Lender, and BFS Capital Are New Additions to Canadian Lenders Association’s Board

February 11, 2020
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The Canadian Lending Association has announced today that it has three newcomers to its board: BFS Capital’s CEO, Mark Ruddock; Cox Automotive Canada’s EVP, Jerome Dwight; and BMO’s Head of Specialty Finance and Loan Syndication in Canadian Commercial Banking, Lyla Kanji. In a statement, Kanji said that she was “excited to join the CLA board […]

Study Claims Canadian Market Needs to Improve Financial Literacy

January 24, 2020
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This week Loans Canada, a lead generation company, released a study documenting the disparities between perceived financial literacy and actual financial well-being. Surveying 1,665 Canadians, the report asserts that those individuals who claim to have a firm grasp of their financial situation may in fact be out of touch. This being highlighted by major misunderstandings […]

Open Banking: Canada Might Not Be Able to Make Up for Lost Time

January 22, 2020
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Over the last two years, open banking has become a matter of public conversation in Canada. Most would agree there is overwhelming support for the implementation of an open banking regime. So why has nothing concrete happened yet? 2019 turned out to be an exciting, yet painfully underwhelming year for open banking in Canada. The […]

Report Finds Canadian Alternative Lending Market Making Gains

January 8, 2020
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A study released by Smarter Loans this week indicates that the Canadian alternative finance industry has grown since last year’s iteration of the report. Titled ‘The State of Alternative Lending in Canada 2019,’ the report highlights how the market has developed in regard to the age and gender of its customers, the level of trust […]

Merchant Growth Partners with goeasy to Provide Funding via Physical Branches

December 11, 2019
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Merchant Growth goeasy

This month Merchant Growth, the Vancouver-based alternative finance company, announced its partnership with goeasy Ltd. that will see Merchant Growth’s services being offered in goeasy branches throughout Canada. Beginning with British Columbia, Alberta, and Saskatchewan in 2019, Merchant Growth aims to have expanded to the remaining provinces in the first quarter of 2020. Under the […]

The Current State of SME Lending in Canada

December 1, 2019
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Canada Finance

According to the latest statistics, there were 1.18 million employer businesses in Canada, with the majority of them located in the provinces of Ontario and Quebec. 1.15 million (97.9%) represented small businesses 21.926 (1.9%) referred to medium-sized ventures Only 2.939 (0.2%) accounted for large corporations Small and medium companies are blooming in Canada: they represent […]

Fast and Furious Funders – At The Canadian Lenders Association’s Venture Debt Summit

November 30, 2019
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Canadian Flag

Fast and Furious Funders was the name of a panel at the Venture Debt Summit hosted by the Canadian Lenders Association on October 23, 2019. Panelists included: Karanjit Bhugra, Managing Director, Deloitte Corporate Finance Jyotin Handa, Director of Finance, Espresso Capital Tanay Delima, Co-Founder, Clearbanc Keren Moynihan, Co-Founder, Boss Insights You can watch the video […]

Canadian Lenders Summit Recap

November 23, 2019
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Top Canadian Companies of the year

The Canadian Lenders Association’s largest annual event brought together hundreds of executives from the fintech and lending industries. It was hosted at MaRS, a dedicated launchpad for startups in Downtown Toronto that occupies more than 1.5 million square feet and is home to more than 120 tenants, many of which are global tech companies. After […]

2019 Top 25 Executive Leaders in Lending – Canadian Lenders Association – Presented By BMO

November 11, 2019
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The Canadian Lenders Assocation (CLA) received 124 nominations for these awards from leaders in lending across the country. The CLA’s goal is to support access to credit in the Canadian marketplace and champion the companies and entrepreneurs who are leading innovations in this industry. The Top 25 finalists in this report represent various innovations in […]

Canadian Lender’s Association Awards Leading Executives and Companies

November 11, 2019
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cla leaders

Today the CLA announced the winners for its 2019 Leaders in Lending Awards. Highlighting the efforts of exceptional players within the fintech and alternative finance fields, the awards seek to “celebrate the industry and celebrate all the cool fintech things happening in Canada,” according to the CLA’s Strategic Partnerships Director Tal Schwartz. Now in its […]

2019 Top 25 Company Leaders in Lending – Canadian Lenders Association – Presented By BMO

November 11, 2019
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cla leaders

The Canadian Lenders Assocation (CLA) received 124 nominations for these awards from leaders in lending across the country. The CLA’s goal is to support access to credit in the Canadian marketplace and champion the companies and entrepreneurs who are leading innovations in this industry. The Top 25 finalists in this report represent various innovations in […]

How Business Financing Has Changed

October 22, 2019
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Canadian Dollars

The first thing small business owners think about when deciding to take on funding to grow their business is the ten-year, 3% bank loan that was the standard ten to twenty years ago. The application and approval process was much slower, and if a borrower didn’t fit the mold that mainstream lenders were looking for, […]

BFS Capital Launches Canadian Tech Hub

October 16, 2019
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Toronto Canada

Small business lender BFS Capital is making an expansion push with the creation of a new data science and engineering hub in Toronto. BFS, which serves customers in a trifecta of jurisdictions that in addition to Canada includes the U.S. and the UK, has undergone a technological transformation that includes building out a tech team […]

Merchant Advance Capital Rebrands to Merchant Growth

July 3, 2019
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Merchant Growth website

Merchant Advance Capital, which trumpets itself as Canada’s fastest and most transparent small business financier, is rebranding as Merchant Growth. The company has offices in Vancouver, BC and Toronto, ON and was founded in 2009. “I founded our company out of my apartment 10 years ago,” David Gens is quoted as saying in a company […]