The joint solution allows businesses to borrow up to $300,000
Alterna Bank and Thinking Capital have announced a joint digital solution aimed at providing Canadian small- and medium-sized enterprise (SME) owners with loans of up to $300,000.
Through the partnership, business owners can easily apply for loans online and receive credit decisions in minutes. Alterna’s Small Business Banking enables qualified SMEs to open bank accounts without the need to go out and subject themselves to unnecessary infection risk.
“This solution is time-saving and tailored to the unique needs of business owners across Canada as they work to recover from the economic impact of COVID-19,” the partners said in their announcement.
Thinking Capital has also “recently re-launched their lending solution with an improved product offering to better meet the needs of SMEs,” the partners said. Alterna Bank added that users of its existing Digital Small Business Banking solution will benefit from these improvements.
“Through this continued strategic partnership, we can do more for small business owners during this challenging time,” said Rob Paterson, president and CEO of Alterna Bank. “By expanding on the services available through Alterna Bank’s convenient Digital Small Business Banking solution, we are helping to bridge a lending gap and offer entrepreneurs more help.”
“2020 has been a challenge for many small businesses, which are at the heart of the communities we live in,” added Stephane Marceau, CEO of Thinking Capital. “We’re excited to continue our work with Alterna Bank. We share a commitment to empower small businesses to recover, to grow again, or to simply accelerate their growth.”
