Lending Loop

10/23/2020

Over the last few months, we have been taken aback by the resilience of small businesses across the country as they adapt and persevere through the impacts of the COVID-19 pandemic.

What better time to reflect on the perseverance of Canadian businesses than Small Business Week?

At Lending Loop, we’ve listened to hundreds of stories of adaptation from small business owners who we’re proud to call our clients. They’ve taken a critical look at their business model, have identified new opportunities, and pivoted to best serve their local community, just as small businesses have always done.

From food truck owners who sold Mother’s Day flowers on-the-go, to countless brick and mortar stores that migrated their businesses to e-commerce and are now seeing sales multiply with access to customers across the country, small businesses continue to embody the entrepreneurial spirit.

For Small Businesses Week, we wanted to tip our hats to all the small businesses who are supporting their communities during this challenging time and we at Lending Loop will continue to support them anyway we can.

08/25/2020

Today marks the official launch of our new brand Loop where we offer a new first-of-its-kind product in the form of an evergreen line of credit for growing eCommerce brands.

The evergreen line of credit dynamically adjusts your credit limit every month based on real-time sales data from your Shopify or Amazon store to make sure you always have access to the capital you need.

Loop is the first revolving credit facility that can actually keep up with the growth of eCommerce stores while offering affordable interest rates without locking up valuable cash flow.

Click the link below or reach out directly if you want to learn more about what we're offering with our new product!

Canadian fintech Lending Loop has launched an innovative line of credit offering after observing the rapidly changing landscape for small businesses.

08/04/2020

Last month, we spoke to Kyle Jollymore from Phusia about what their journey was like and how their new business financing is helping them grow!

Get the full story here:
https://www.getloop.ca/success-story-phusia

07/30/2020

Have you ever asked yourself how you would prove out a product before selling it on your ecommerce store?

We asked that ourselves, and here's what we came up with:

https://www.getloop.ca/blog/how-to-test-new-product-lines-before-investing-in-inventory

06/08/2020

Business owners should always be conscious of their business scores as it can be a great tool for their success. Today, we've decided to share the 5 most important things to keep in mind:

There are five major factors that can significally affect your business credit score. It's good practice to understand and avoid them when possible.

05/13/2020

One of the most common challenges facing Canadian business owners at the moment is understanding which government support programs they can apply for in order to stay afloat.

That's why we built QuickMatch.

A tool to show you which programs your business is eligible for, and how to apply for them.

Check it out here:

https://www.getloop.ca/covid-19

04/06/2020

Now more than ever, it is important to have an honest discussion about where the Canadian small business economy is going and what we can do about it. Join the discussion at the COVID-19 Canadian Small Business Support Group on Slack:

Lending Loop is Canada's first Peer-to-Peer lender, with interest rates starting from 5.9%

03/27/2020

The COVID-19 pandemic has managed to halt our Canadian economy and throw many business owner’s lives into a spiral. It is now more important than ever for small business owners to band together and support each other through this storm.

We have built a Slack community around small business owners in order to share information regarding the government’s programs, latest news, and all-around discussions about the impact of COVID-19 on small businesses.

This is a place to share your thoughts and story as a business owner, as well as help others prepare and manage the current difficulties of their business.

It’s time to have an honest talk about what is happening to small businesses in Canada.

Join the community via the link below:
http://get.lendingloop.ca/join-the-community/

03/25/2020

Our CEO, Cato Pastoll, published an op-ed in the The Globe and Mail this morning stressing the challenges that Canadian Small Business owners are encountering during the COVID-19 pandemic.

It's imperative that SMBs get the support they need to make it through this incredibly challenging time.

Government aid is directed to individuals and not small businesses with little means to weather the COVID-19 storm

03/19/2020

Stay on top of your credit score with these 5 helpful tips:

Here are 5 great tips to maintain a healthy business credit score, so that your business' credibility is more attractive to lenders.

03/17/2020

At Lending Loop, we’re devoted to supporting the small business community. As concerns continue to grow about the spread of the coronavirus (COVID-19), we are taking the necessary steps to support businesses across Canada.

Every day Canadian Municipalities, Provinces and the Federal Government are releasing new support mechanisms for Canadian businesses.

That is why we have created a COVID-19-related resource centre to provide you with links to useful information on Government programs to support businesses impacted by COVID-19. The resource centre will be updated daily as new programs are announced.

At Lending Loop we're committed to supporting small businesses like yours during times of concern. To help we've compiled a range of resources to help you manage and build resilience during the COVID-19 outbreak. Read more here.