Lending to the gig economy doesn’t have to be difficult! In this post you can expect to learn: What is the gig economy? What are the needs of gig economy workers? How you can innovate your lending practices to accommodate the gig economy. Understanding the gig economy Characterized by freelance and short-term contracts, in a…
We’ve been working with Canadian credit unions to rollout a digital solution to support small businesses applying for emergency funding. To date, we’ve enabled Canadian credit unions to disperse more than $150 million in federal CEBA loans. Find out more about how we’re working with financial institutions to facilitate federal COVID-19 loans.
On March 27th, the Federal Government announced the $25 billion Canada Emergency Business Account (CEBA), as part of its loan and loan-guarantee program, the Business Credit Availability Program (BCAP), to support small businesses in the era of COVID-19. This announcement left many financial institutions scrambling to produce a solution that would process the influx of online loan applications they were anticipating. With local branches reducing operating hours and staff shifting to home offices, banks and credit unions were…
At JUDI.AI we’ve started to see the immediate effects that COVID-19 is having on the small business community and the demand for access to credit. Small business loan applications have increased by 49% across our Canadian customers compared to previous weeks and we foresee these numbers continuing to trend upwards in the coming weeks. The…
Sudbury Credit Union was looking to streamline their SMB loan financing process in hopes of expanding their SMB loan business and building their profile locally. By partnering with JUDI.AI, Sudbury Credit Union was able to enhance their manual processes and excel spreadsheets with a credit decision tool that automates and streamlines the entire workflow, eliminating…
DUCA Financial Services and Credit Union had long been involved in commercial lending, but had yet to streamline the process around small business loan applications. Through a partnership with JUDI.AI, DUCA is revolutionizing small business lending in their organization. As a result, staff and members are thrilled with the new experience. Read the results and…
Your risk team spends too much time manually evaluating credit risk. Vancity foresaw the need to automate that process.
On average, small and medium business (SMB) owners have less than one month of cash buffer[1]. So when a new opportunity comes around to invest in expanding–or additional cashflow is required to sustain the business through a dry spell, SMBs apply for a loan in order to keep the business running. Most small business…
This December, in the spirit of giving, the JUDI.AI team has chosen to donate 3% of our December subscription fees to one of our charity partners: the Rise and Shine Foundation. Founded by former Vancouver Whitecaps FC captain–Jay DeMerit– the Rise and Shine Foundation empowers youth to DREAM BIG through once-in-a-lifetime retreat experiences. The charity…
