As the alternative lending ecosystem in Canada evolves, so have the needs and priorities of its small business customers.
When the industry was still in its infancy, the top priority for small business customers was rates because alternative lending prices were often higher than those of traditional lenders, according to data compiled by Company Capital.
As the competitive landscape evolved, however, many of the original players went out of business, new ones arrived from the United States and elsewhere, and rates have lowered and grown more consistent between competitors. As a result, the Victoria B.C.-based small business lender found that Canadian small businesses now have different priorities.
written by Jarod Lindzon
Jared Lindzon is an experienced journalist, writer and public speaker. He specializes in Business, Technology, Lending and FinTech industries in Canada and abroad. Jared is a regular contributor to Smarter Loans and top tier publications around the World, including Fortune Magazine, Fast Company, the Guardian, Rolling Stone, the Globe and Mail, and many more.