Contribution: Industrial Research Assistance Program – Contributions to Firms
Loop Financial Inc
$486,900.00
Scaling Lending Through Underwriting Automation and Transactional Ledgers
FY 2019-20 · 2019-04-01
Summary
Automation between various Credit, Underwriting and Loan Management Systems, allowing Lending Loop to provide Small Businesses with relatively lower amounts of capital at an affordable rate with less time for application approval and an attractive risk-adjusted return to lenders.
Department
Program
Industrial Research Assistance Program – Contributions to FirmsIndustrial Research Assistance Program-Contributions to Firms (linked with high confidence)
Recipient
Location
Toronto|Toronto, Ontario, Canada
Recipient Type
For-profit organization
Business Number
817129778
Type
Contribution
Source
Proactive Disclosure - Grants and Contributions
Amendments
Each version of the agreement as published, oldest first, with its total as of that version. The amount above is the latest.
| Amendment | Date | Fiscal Year | Total |
|---|---|---|---|
| 0 | 2019-04-01 | 2019-20 | $466,900.00 |
| 1 | 2019-04-01 | 2019-20 | $466,900.00 |
| 2 | 2019-04-01 | 2019-20 | $486,900.00 |
As published
Additional Information
This agreement has been amended 1 time(s). The end date of this agreements has been modified by 28 days. The total amended value is 20,000 dollars.
Additional Information (French)
Cet accord a été modifié 1 fois La date de fin du présent accord a été changé de 28 jours. La valeur totale des modifications est de 20 000 dollars.
Agreement End Date
2020-02-28
Agreement Number
929665
Agreement Start Date
2019-04-01
Agreement Title
Scaling Lending Through Underwriting Automation and Transactional Ledgers
Agreement Title (French)
Mise à l'échelle des prêts grâce à l'automatisation de la souscription et aux grands livres transactionnels
Agreement Type
Contribution
Agreement Value
$486,900.00
Amendment Date
2019-12-04
Amendment Number
2
Coverage
IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation. | Les projets des Contributions aux entreprises stimulent la création de richesse au Canada grâce à l’innovation technologique.
Description
Automation between various Credit, Underwriting and Loan Management Systems, allowing Lending Loop to provide Small Businesses with relatively lower amounts of capital at an affordable rate with less time for application approval and an attractive risk-adjusted return to lenders.
Description (French)
L'automatisation entre divers systèmes de gestion du crédit, de la souscription et des prêts, ce qui permet à la boucle de crédit de fournir aux petites entreprises des montants de capital relativement plus faibles à un taux abordable avec moins de temps pour l'approbation des demandes et un rendement ajusté au risque intéressant pour les prêteurs.
Expected Results
The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization
Expected Results (French)
Le PARI, par le biais des Contributions aux entreprises, vise à appuyer la recherche, le développement, l’adaptation et/ou l’adoption au Canada de produits, de services ou de processus novateurs ou axés sur des technologies nouvelles ou améliorées, et ce jusqu’à leur commercialisation
Federal Riding
Spadina--Fort York
Federal Riding (French)
Spadina--Fort York
Federal Riding Number
35101
NAICS Code
5269
Organization Code
nrc-cnrc
Organization
National Research Council Canada | Conseil national de recherches Canada
Program Name
Industrial Research Assistance Program – Contributions to Firms
Program Name (French)
Programme d’aide à la recherche industrielle – Contributions aux entreprises
Program Purpose
The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization
Program Purpose (French)
Le PARI, par le biais des Contributions aux entreprises, vise à appuyer la recherche, le développement, l’adaptation et/ou l’adoption au Canada de produits, de services ou de processus novateurs ou axés sur des technologies nouvelles ou améliorées, et ce jusqu’à leur commercialisation
Recipient Business Number
817129778
Recipient City
Toronto|Toronto
Recipient Country
CA
Recipient Legal Name
Loop Financial Inc
Recipient Postal Code
M5V 1S8
Recipient Province or Territory
ON
Recipient Type
F
Reference Number
172-2019-2020-Q1-929665
