Saw a demo at the Calgary Tech Fair that made me rethink small business loans

I was checking out the fintech booths last month and a startup called MapleFlow had a live demo of their loan matching platform. They showed how a local cafe owner got a 50k line of credit approved in under 48 hours by using their cash flow data instead of just credit scores. It clicked for me that the real hurdle for a lot of small shops isn't the rates, it's the speed and paperwork. Has anyone else seen a Canadian fintech actually cut down the wait time for funding that much?

3 comments

3 Comments

harper_foster3d ago

That "speed and paperwork" line is exactly why I used to think loans were impossible for small places.

fiona9853d ago

Our local credit union approved mine in 48 hours.

miles_young593d ago

How do they even check the cash flow data, like do they link up to your bank account? Honestly that speed is crazy if it's real, I've heard of places waiting weeks. Tbh the credit score thing is so outdated for small businesses.