Press Release: Evolocity Financial Group Brings E-Lending to Canadian SMBS
- For the first time, qualified small and medium sized merchants across the country can access financing by completing a secure online application form
- Small and medium sized businesses can receive working capital in as little as 48 hours after financing/funding approval
- Unlike traditional lenders Evolocity uses a unique proprietary “decisioning model” to evaluate risk and grant funding approval to Canadian SMBs
MONTREAL, QC - October 15, 2014 - Evolocity Financial Group today unveiled a new online financing solution for Canadian small and medium sized businesses. Filling a significant gap in the SMB lending space in Canada, Evolocity’s proprietary e-lending system offers new, fast and easy alternatives to traditional financing-. Evolocity is the first Canadian lender to finance small and medium sized businesses using a secure online application.
“Small and medium sized businesses account for all but one percent of companies in Canada yet the traditional lending approach tends to often overlook smaller enterprises in need of capital, using narrow criteria that limit capital access. This is often due to the nature and size of the business, and the relatively smaller amounts of funding that are being requested,” said David Souaid, Evolocity Financial Group Co-Founder. “At Evolocity, we have re-thought small business financing by combining modern technology and unique risk decisioning models that allow for secure, faster and more flexible financing solutions,” added Souaid.
Evolocity Financial Group offers two flexible financing solutions that provide up to 200,000 dollars of immediate working capital within 48 hours of approval for qualified small and medium sized businesses. Evolocity provides entrepreneurs either with Cash Advances and Business Loans, or both if needed. Evolocity works with each of its clients to evaluate their unique financial situation using a range of lending criteria such as credit and debit card processing volumes, social media analytics and industry specific comparative data.
Understanding the financial pressures facing business owners, repayment with Evolocity is easy and painless for merchants. For cash advance, a percentage of daily credit and debit card receivables are automatically debited from the merchant’s business bank account. This means Evolocity is only paid when the merchant is paid easing the financial burden often faced by businesses during off season periods. Unlike traditional business loans, Evolocity’s business loans are repaid in small fixed amounts on a daily basis eliminating the need to make large sum payments at the end of the month.
Canadian-based businesses that have been active for at least 12 months can learn more about how to apply for financing with Evolocity by visiting www.evolocity.ca or by calling 1-877-781-0148.
About Evolocity Financial Group:
Formerly Mercantile Advance, Evolocity Financial Group offers alternative financing to small & medium sized Canadian businesses. A Canadian owned and operated company, Evolocity understands and appreciates the cash flow demands of merchants and takes the time to evaluate the unique financial needs of its clients to tailor its services accordingly. For more information, please visit www.evolocity.ca