Core features include:
- Business and Consumer Credit Scores
- Business and Consumer Credit Monitoring and Credit History Data
- Tips, Resources, and Contextual Advice
TORONTO, Nov. 7, 2018 /CNW/ - Equifax Canada® and Loop, the creator of Canada's leading peer-to-peer loan platform, today announced the launch of a credit health and monitoring platform for businesses. Launched at the intersection of Small Business Month and Financial Literacy Month, the new platform empowers Canadian small business owners and entrepreneurs alike, to improve their financial and credit health through easy-to-read credit scores, reports and resources.
Born out of a desire to help businesses, Loop seeks to enable entrepreneurs by providing them with the credit tools and insights needed to manage and improve their business credit. As the first online platform in Canada to offer free business credit scores, Loop believes the new product will serve as a great opportunity to educate business owners on the value of building strong credit.
"Having worked with thousands of small businesses, we've seen how business owners have had very little insight into how their business credit is perceived," says Co-Founder and CEO of Lending Loop, Cato Pastoll. "By coupling a business credit score with a consumer score, we are able to give small business owners a holistic view of how their business is doing and resources to help them improve."
"This peer-to-peer lending platform from Loop is a great example of how fintechs are empowering small businesses and contributing to the growth of the Canadian economy," says Chris Briggs, Chief Marketing Officer of Equifax Canada. "Small businesses take risks, are inventors, community leaders, and most of all help create more new jobs than that of large enterprises. Education, especially around their personal and business credit, allows small businesses to more clearly understand the impact of the key growth decisions they are looking to make."
Canadian Business Owners can access their free business and personal credit scores at www.getloop.ca
Equifax is a global information solutions company that uses unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs 10,400 employees worldwide.
About Lending Loop
Lending Loop is an online marketplace that connects lenders and borrowers, resulting in a fairer outcome for both parties. Lending Loop's online model allows businesses' loan applications to be evaluated using sophisticated decision models supported by hundreds of data points. Using this technology, Lending Loop aims to advance the Canadian lending ecosystem by providing accessible capital at fair rates to promising SMEs while simultaneously improving fixed income returns for lenders. To date, the company has provided over $30 million in small business financing and attracted over 7,600 active retail investors.
Additional information is available at www.lendingloop.ca
For further information: Ryan Watkins, Lending Loop (Loop Financial Inc.), 888-223-5667 x400, [email protected]