VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 15, 2016) - Today, online lender Merchant Advance Capital was ranked No. 23 on the 28th annual PROFIT 500 ranking of Canada's Fastest-Growing Companies by Canadian Business and PROFIT.
With an impressive five-year revenue growth of 3,234 per cent, Merchant Advance Capital placed in the top five per cent of the 2016 PROFIT 500 list. Since 2010, Merchant Advance Capital has provided more than $80 million in working capital to small businesses nationwide and employs more than 45 people in offices in Vancouver and Toronto.
"As one of the longest-standing alternative lenders, Merchant Advance Capital is thrilled to be recognized as one of the highest-growth companies in the country," says founder and CEO David Gens. "Being part of the PROFIT 500 list has affirmed our dedication to helping small businesses grow, while also demonstrating the traction that the alternative lending industry has gained."
"Companies become a part of the PROFIT 500 through innovative thinking, smart strategy and sheer grit," says James Cowan, Editor-in-chief of PROFIT and Canadian Business. "These firms demonstrate what Canadian entrepreneurs can achieve, both at home and across the globe."
The PROFIT 500 list will be published in the October issue of Canadian Business and at PROFITguide.com.
David Gens is a recipient of Business In Vancouver's Forty under 40 award and BCBusiness's Top 30 Under 30 award. He is one of this year's finalists in the EY's Pacific Region Entrepreneur of the Year award in the Fintech category.
About PROFIT and PROFITguide.com
PROFIT: Your Guide to Business Success is Canada's preeminent media brand dedicated to the management issues and opportunities facing small and mid-sized businesses. For 34 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.
About Canadian Business
Founded in 1928, Canadian Business is the longest-serving, best-selling and most-trusted business publication in the country. With a total brand readership of more than 1.1 million, it is the country's premier media brand for executives and senior business leaders. It fuels the success of Canada's business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. We provide concrete examples of business achievement, thought-provoking analysis and compelling storytelling, all in an elegant package with bold graphics and great photography. Canadian Business-what leadership looks like.
About Merchant Advance Capital
Merchant Advance Capital is one of Canada's leading online lenders on a mission to help small and medium-sized businesses grow. The company relies on technology and data science to reduce risk and offer lower fees and flexible repayment schedules. Merchant Advance Capital was founded in 2010 and has now grown to include offices in Toronto and Vancouver and serves clients Canada-wide.
For more information, visit www.merchantadvance.com.