Calgary fintech Woveo is collaborating with the Business Development Bank of Canada on a $10-million micro-lending program for entrepreneurs underserved by conventional financing. The initiative offers loans of up to $25,000, aiming to make early business funding more accessible across Canada.
Woveo combines cash-flow intelligence, credit information, AI-assisted underwriting and community accountability to assess borrowers. Co-founder Jonah Chininga says traditional lending systems often overlook entrepreneurs’ experience and potential. The company reports facilitating more than 1,200 loans through its programs, with a 98% repayment rate. Its BDC collaboration aims to help founders access financing and build pathways into mainstream financial services.
Want to know more? Check out the source code on Fintech.ca.