Loanspark, Business Lending as a Service Provider, Expands Its Services to Canada, Doubling Down on Its Mission to Support SMBs Across North America

Loanspark Expands Outside the U.S. into Canada Shortly After Canada Day

BOSTON, July 12, 2023 /PRNewswire/ -- Loanspark announced today that it has expanded its business lending products and services to Canada. The announcement comes as part of Loanspark's ongoing efforts to expand its lending marketplace to B2Bs throughout North America. Loanspark is dedicated to providing tailored business loan programs and expert customer service to its B2B clients to better serve their SMB customers and is committed to offering services to a diverse pool of companies.

This expansion allows Loanspark to assist U.S. and Canada based B2B companies and their Canadian SMB clients in accessing capital to fund the growth of their businesses.  Only 3% of SMBs in Canada utilize alternative lenders, often due to the lack of understanding about the business funding process. "My mission was to make business funding safe, accessible, and easy for the business owner, and this expansion into Canada, continues to enable Loanspark on this path," Founder and CEO Michael Barnett stated.

The Programs Offered

Loanspark can now provide three major programs to Canadian customers in an effort to curtail the often difficult hurdles startups and SMBs face when launching:

1. Fixed Term Loans - loans can be used at any stage of business growth, and are great for longer term repayment options, conserving business's current cash flow while giving the business expansion opportunities
2. Lines of Credit - loans are great to have as a reserve because they are only paid back based on what has been used, similarly to how credit cards work
3. Commercial Real Estate (CRE) Loans - loans are applicable to any and all real estate investments, such as multi use, multi family, and business office expansion or remodeling

As of December 2021, Canada housed 1.21 million employer businesses, and 97.9% of them were small businesses.  Medium-sized businesses accounted for 1.9%, whereas large businesses accounted for only 0.2%.  Loanspark's dedication to providing Term Loans, Lines of Credit, and CRE Loan services to Canadian business owners is a vital step in the right direction to support the prosperity of these business owners in Canada.

About Loanspark

Loanspark continues its journey as a leading force in SMB funding and access to capital by utilizing innovative origination systems and supplying expert customer service.  It encourages B2B companies to support the aspirations of SMBs through financial support by championing the dedication of SMB owners. The company's robust lending marketplace allows its partners access to unique commercial loan products.

To learn more about Loanspark and its services, please visit www.loanspark.com for additional details.

SOURCE Loanspark, LLC