A series of articles by the Globe and Mail exposed flaws and confusion within existing government policies concerning the funding of Herceptin, an expensive drug to treat breast cancer. The stories focussed on the way the Ontario government pays for cancer-fighting drugs and its failure to pay for treatment of small tumours in patients. Lisa Priest Your Excellencies, distinguished guests, colleagues, Imagine you are a young woman who finds a lump in her breast. You are terrified at first, but slightly relieved to later learn the cancer is small.
The government will receive a full re-payment of the loan plus interest at the end of the loan terms. Story continues below advertisement Small-business loans are seen as risky, with borrowers facing annual interest rates between 8 per cent to 40 per cent as a result of challenges such as absence of collateral, a lack of operating and credit history, unaudited financial information or an absence of steady cash inflows.
In earlythe ministry held a number of consultations with representatives of lending platforms, credit unions and large financial institutions to determine the best approach. Online provider Lendified has been outsourcing its technology platform under its subsidiary Lendified Technologies Inc.
Andrew Zakharia, a chartered accountant and founder of Toronto-based AZ Accounting Firm, which has a large client base of small-business owners, said the announcement will further add credibility to alternative lenders as well as bring awareness that there are other financing options available.
Over the past five years, platforms such as Lending Loop and Lendified have been popping up to offer alternative options to small businesses looking for financing, including those that may not qualify for a business loan through larger banks.
Story continues below advertisement Many of the platforms have accredited investors and institutions that are funding the loans. Investors are able peruse an online marketplace of small businesses and select the companies they wish to help finance.
The business model is one that piqued the interest of regulators inwhen Lending Loop volunteered to pause its retail investor marketplace in order to work alongside regulators and make internal changes necessary for regulation.For email, phone number and executive profiles for Business Reporter and other executives of The Globe and Mail at Toronto, OH, check The Globe and Mail at kaja-net.com Not the Tavia Grant you are looking for?
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Find Barrie McKenna of The Globe and Mail's articles, email address, contact information, Twitter and more. Globe and Mail columnist and business correspondent.
I tweet about the intersection of public policy, business and the economy. One person dead after two small planes collide mid-air in Ottawa. Information and inspiration for Canadian entrepreneurs, startups and small business leaders.
General assignment reporter at The Globe and Mail's B.C.
bureau with an interest in politics, human rights,crime and the environment. As equally addicted to covering breaking news stories as I am researching investigative reports and kaja-net.com: Reporter at The Globe and Mail.
Some of the country’s leading entrepreneurs gathered May 8 for The Globe and Mail Small Business Summit in Toronto. Panels and talks focused on a range of business issues, from recruiting talent to expanding to the United States.
Jan Wong (Chinese: 黃明珍; pinyin: Huáng Míngzhēn; born August 15, ) is a Canadian journalist of Taishan, Guangdong kaja-net.com worked for The Globe and Mail, serving as Beijing correspondent from to , when she returned to write from kaja-net.com is the daughter of Montreal businessman Bill Wong, founder of Bill Wong's buffet in , and earlier of the House of Wong which.