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Building community through crowdlending

Posted on: June 16, 2017 | Author: ATB Staff

It’s a pretty great moment when you receive a call from your banker that your funding application has been approved. And what makes it feel so great is the fact that they are saying more than just yes! They’re saying we believe in you and your dreams.

But sometimes the numbers just don’t add up and the bank has to say no. But, then what?

That’s where ATB’s crowd lending platform, ATB LendR, can come in! Using the support of Albertans, LendR creates an opportunity for you to accelerate your growth while building a community around your business. Recently, two businesses found great success on the platform:

 

Buttercream Clothing

Seeing the success of ATB LendR’s first campaign, and knowing that the larger network of LendRs were eagerly waiting for another campaign, Buttercream Clothing felt optimistic that they could likely meet their funding goal within the allotted 90 days.

Well, what a difference a day can make. They raised $25 000 ($12,500 from the crowd, $12,500 matched by ATB) in 25 hours!

Buttercream Clothing also received a loan directly from the bank, but specifically wanted to try ATB LendR for part of what they were hoping to borrow, because they saw the value of being exposed to such a large network of LendRs. They understood that when someone chooses to invest in you, they become fans and therefore advocates of your business.

Wambeck Enterprises Ltd.

A couple of weeks after Buttercream Clothing’s success, Wambeck Enterprises posted their campaign on the LendR platform, only hoping that they could see the same success as Buttercream Clothing. Imagine their surprise when their campaign funded in only FOUR HOURS.

These success stories are great examples of how Albertans support local entrepreneurs.

So are you a fit for LendR?

Many different business types and models can qualify for LendR. Generally speaking you need to have been in business for 12 months and be profitable (even just a small amount counts!).

If you think it sounds like your business is a fit for ATB LendR apply online and someone will get in touch with you.

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