NBC, with USD 256 billion in assets, will leverage Thinking Capital’s technology to streamline the SME loan application process.
For Thinking Capital, which has helped fund more than 10,000 small businesses in Canada since inception, working with NBC provides opportunities for growth for the Montreal-based alt lender.Thinking Capital’s Lending-as-a-Service platform leverages artificial intelligence (AI) and proprietary algorithms for the financing process for small businesses.
The company offers both fixed and flexible term loans of up to USD 300,000 for Canadian-based businesses that have been in operation for at least six months and have average monthly sales of at least USD 7,000.
Founded in 2006, Thinking Capital was acquired by Purpose Investments in March in a deal valued at USD 200 million.
In summer 2018, the company partnered with Equifax to launch a new solution, BillMarket, that helps Canadian SMEs leverage their good credit to extend payment terms in their supply chain.
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