As small business appetite to borrow grows, banks step up with speedy loan approval platforms [Financial Post (Toronto, Ontario, Canada)]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: Financial Post
As small business appetite to borrow grows, banks step up with speedy loan approval platforms BMO, for example, has launched a platform that cuts down on the amount of time it takes to approve loans from weeks to minutes Small businesses in Canada grew hungrier for loans in the third quarter — and some of the country’s biggest banks are trying to make sure they get them as fast as possible. Earlier this week, The Bank of Canada reported that its latest survey of senior loan officers found that credit conditions for small businesses hadn’t changed, but that the appetite for loans among those smaller firms had increased. “Greater demand was reported across all regions from small business borrowers,” said the survey, which was conducted between Aug. 6 and Sept. 7. Interest among small businesses for credit has picked up as the average Canadian consumer has already managed to amass a relatively large amount of debt, potentially leaving them less room to borrow from the big banks. Some len
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- 3/20/24 - Barclays PLC
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