Meridian and Thinking Capital have announced a strategic partnership to expand small business lending solutions in Ontario, an essential element to enable business growth and economic recovery. The fintech partnership allows small business owners to apply for a loan online, receive a credit decision in real time and have funds in their account just days later.
"Together with Thinking Capital, we can dramatically shorten the time it takes to apply and be approved for credit, allowing businesses to focus on their financial health and plans for growth," said Kevin VanKampen, vice president, Business Banking at Meridian. "Our referral relationship with one of Canada's premiere fintech lenders to small business will help our members source alternative sources of capital from trusted providers, from early stage to more mature businesses. This is a win-win value proposition for all parties, especially in today's environment."
Offers cost-efficient digital lending
Thinking Capital's fintech platform uses proprietary data and algorithms to offer cost-efficient digital lending and cash-flow management solutions for small businesses.
In order for an applicant to be successful in accessing credit, they must meet be Canadian based, have monthly sales of more than $7,000 and been in business for longer than six months.
"This last year has been particularly difficult for many small businesses in Canada. Thinking Capital exists to support them as they find ways to thrive again or to simply help them achieve the success they desire," says Stephane Marceau, president & CEO of Thinking Capital.
