Lendified, a Toronto, Canada-based online lender for small businesses, entered into a $60m credit facility agreement with ClearFlow Commercial Finance.
The financing will increase the company’s capacity to fund loans delivered through the website.
Led by CEO Troy Wright and President Kevin Clark, Lendified is a Canada-based small business lender providing working capital loans of $5k to $150k. Through an online application, business owners can qualify in minutes, receive an instant quote, and get funding in 48 hours.
This process is powered by a customizable AI-powered credit platform, which the company offers to financial institutions looking to enhance their adjudication process and customer experience.
Lendified is also, through its Vault Circle subsidiary, the first digital lender to secure an exempt market dealer license from the OSC and offer accredited investors the ability to invest in its online business loans.
FinSMEs
26/10/2017