Fintech startup Lendified inks $60 mln credit facility

Lendified, a Toronto online small business loans provider, has agreed to access a $60 million credit facility provided by ClearFlow Commercial Finance. The deal increases Lendified’s lending capacity to $85 million, the company said. Founded in 2015 by CEO Troy Wright and President Kevin Clark, Lendified operates an online marketplace that aims to supply fast and affordable working capital loans of $5,000 to $150,000 to Canadian small businesses. It reports receiving more than $220 million in loan requests to date. Last year, Lendified secured a $20 million credit facility from Liquid Capital Corp.

CanadaNorth AmericaBriefs