Thinking Capital, Equifax launch financing solution for Canadian SMEs

Wednesday 11 July 2018 13:27 CET | News

Equifax Canada and Thinking Capital have launched a solution to help SMEs leverage their credit profile to extend payment terms in their supply chain.

BillMarket works by using Equifax’s Small Business Grade to establish a credit limit Canadian businesses can use to extend payments. Businesses can learn how much credit they are eligible to access by registering with BillMarket and reviewing their certification report.

According to the companies, financing via BillMarket allows small businesses more time to pay suppliers, increased purchasing power, and the ability to deepen relationships with business partners considering potential spending and prompt payment.

SMEs must be based in Canada, in operation for at least six months, and have average monthly sales of at least USD 7,000. Thinking Capital was acquired by Purpose Investments in May 2018 in a deal reportedly valued at more than USD 200 million.

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Keywords: Thinking Capital, Equifax, financing solution, Canada, SMEs, credit profile, supply chain finance, Small Business Grade, BillMarket
Countries: World