The Consumer Financing Blog

You can now upload loan documents directly into FinanceIt with the click of a button. This is part of our commitment to helping you finance your customers and close more sales. While you still have the option to fax in documents, uploading your loan documents will save you a lot of time and hassle while keeping everything nicely organized within your FinanceIt account. As an added bonus, we have optimized our interna

We’re proud to be named one of the Top 25 Up and Coming companies in Canada by the Branham300! For 20 years the Branham300 has been on the pulse of new, innovative technologies in Canada. In recent years, this list has included the likes of Hootsuite, Rypple and Radian6. CommunityLend launched FinanceIt in 2011 to give businesses the ability to provide consumer financing to their customers at the point of sale

We know that turning down a customer for financing is never enjoyable for our merchant partners. With the intent of getting credit approvals as high as 80%, our Second Look program allows you to say “yes” to customers who would not have otherwise qualified for our Standard Program due to credit reasons. We’ve partnered with a great set of long time professional non-prime lenders – the first be

It’s time for us to give back! For a while now we’ve been getting lots of referrals from existing Partners and we couldn’t be happier about this trend. It tells us that we are delivering on our mission of offering our merchant Partners a best in class POS consumer financing solution. We appreciate each and every one of these referrals – and have decided it’s time for us to start giving b

Over the past month we’ve attended a variety of great events across Canada and thought we’d share some of our fantastic experiences. HomeStars Each year, HomeStars – a site that helps homeowners find the best home improvement professionals - holds its annual Best Of awards. The awards go to the contractors with the highest quantity and quality of reviews in a given area. Craig, Alex, Kate, Tom, Eric and our Sal

Over the next month we will be travelling across Canada attending a number of trade shows and events, and we want to meet you there! A schedule of where you can find us is below. Pacific Dental Conference If you’re in the dental practice and will be attending the conference in Vancouver be sure to stop by and say hi. You can find us at booth 111 – just in front of the lounge on the left side of the Live Dentist

Having to provide a co-borrower on a loan can be really annoying. As a part of our efforts to continuously improve the loan creation process, we’ve added some features that will make the co-borrower requirement more flexible. But first, some background on the co-borrower requirement and how it works. All loans currently require that the total debt service ratio (TDSR) be lower than 42%. TDSR is calculated as a percen

We are proud to welcome some new and notable faces here at the FinanceIt offices! Since the new year started we’ve added another world class advisor, two new executives, and an operations admin. Andrew Durnford – Advisor Mr. Durnford is Principal of White Point Capital Inc. Most recently he has held a variety of senior executive roles in TD Bank Group, including leading a number of consumer lending busine

Updates to our Documents Library As a small gift to start off the new year we’ve updated and improved our documents library. What was previously known as Documents is now Library - and while it isn’t as full as a library quite yet, it’s well on it’s way. The Library includes resources that will help you apply for and sell financing to your customers. Most importantly, it contains all the forms necessary to process a