VANCOUVER, British Columbia, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Merchant Advance Capital, a leading national online business lender, announced today that it has partnered with financial data aggregator, Flinks, to drastically reduce its loan approval time. This partnership between two Canadian innovators means loans can be approved and banked in one day, making it the fastest route for Canadians to secure a loan from an alternative lender.
Flinks will allow Merchant Advance Capital to connect its app directly with customers’ banks, allowing the company to validate account ownership, account balances and transaction histories. As the first collaboration of its kind in Canada, loan applicants will be able to instantly provide their banking information to Merchant, resulting in faster loan approvals.
Speaking about the partnership, Dave Gens, CEO and Founder of Merchant Advance Capital, said: “We’re responding to a demand for quicker access to capital among Canada’s SMB owners. When selecting a partner, we felt Flinks shared our goal to improve financing options for underbanked SMBs across Canada, thereby helping this part of the economy grow.”
He continued: “We want to help small businesses realize their potential through smart funding solutions, and this partnership puts the timeframe for receiving money almost entirely in the hands of our customers.”
Yves-Gabriel Leboeuf, CEO of Flinks, said: “We’re happy to open up banking data for Merchant Advance Capital. The fit between the two companies couldn’t be better, as we share a common mission: increasing accessibility for superior financial products.”
About Merchant Advance Capital
Merchant Advance Capital is one of Canada’s leading online lenders on a mission to help small and medium-sized businesses grow. They leverage technology and data science to reduce risk and provide more control, lower fees and flexible repayment schedules. Merchant Advance Capital was founded in 2010 and has now grown to include offices in Toronto and Vancouver and serves clients Canada-wide.
About Flinks
Flinks developed the most reliable financial API on the Canadian market. Covering 98% of the country’s banks and credit unions, Flinks is the leader in financial data access in Canada.