It is a shocking realization to understand that 90% of the world’s population is underbanked, meaning that they do not have equal access to build wealth or financial independence. Traditional financial products are reserved for those privileged enough to have access, wealth, and financial education. Adam Rice, CEO of LoanConnect Canada, is working to eliminate these barriers by creating a global platform for accessing loans through a lender network system that puts the consumer first and enables a “perfect-fit” feel for both consumers and lenders on the platform.  

LoanConnect was founded in 2016 to connect lenders to people in need, and give those looking for loan options control of their finances. As Rice began researching and collecting leads, it became apparent that lenders could benefit from this platform too, as they were struggling with the high costs of acquiring traffic. This led to the idea to partner with companies that want their customers to access personal loans through LoanConnect’s database, creating a predictable cost of acquisition for the lenders and most importantly, simple access to financing and loans for those in need. 

With over 100 Canadian partners through LoanConnect and a recent expansion to India with a new brand, CreditLinks, Rice has made it his mandate to broaden the world of financial services. Partnering with these large companies meant that LoanConnect didn’t have to connect directly with consumers, gaining their user traction through other companies while bringing a significant volume of customers to lenders. Instead of paying per lead, which is the typical format for lenders, using LoanConnect allows them to pay per acquisition, mitigating the commitment to lenders, helping with conversion, and optimizing the lead flow. Committed to giving lenders an 80% chance of converting, LoanConnect puts a focus on lowering the cost for everyone involved and creating a multilateral solution. Powering companies in Canada, such as Credit Karma, LoanConnect successfully made their name in lending solutions. It allows a win-win situation for lenders and consumers while focused on a mission of helping Canadians with financial fluency and confidence. 

As LoanConnect became more established, Rice soon realized that a lot of folks using LoanConnect to get a loan were doing so because they could not access traditional credit. People who were new to credit and didn’t have an established credit history would utilize the platform looking for a reliable lender that would see them as a valuable customer. Users can now use LoanConnect to get the loan that they need in a short amount of time; boasting a 2-minute turnaround from application to offer and same day funding accessible for intent customers in as little as 15 minutes. Furthermore, users can utilize these loans to build their credit and financial history. This access opened a wider range of services and loans available to disenfranchised individuals that were being turned away from traditional financial institutions. “We are trying to allow opportunities for people who don’t have a credit score. We want to help young families, single parents, newcomers, and people stuck in a cycle of poverty” says Adam Rice, Founder & CEO of LoanConnect, “We want to work with them to get them into a sustainable loan, avoid bankruptcy, and get to a place where their budget is manageable”.  

With traditional banking still being a tedious process, CEO Adam Rice strives to help build the future for those looking to access loans. With LoanConnect continuing to grow in Canada, and the new expansion of CreditLinks in India, the goal is to expand globally. “Our goals are to continue to help people elevate their lives so they can live comfortably, support their families, and make their dreams a reality”, says Rice, “We want to be a part of their story”. Searching LoanConnect’s lender network allows access to competitive loan offers that best suit the needs of each individual. The consumer-first technology enables the search of multiple lenders, putting the control in the consumers’ hands to ensure they find the best and most affordable fit for their financial needs. 

LoanConnect became Canada’s first unsecured personal loan search engine and has since grown to include more than 25 lenders and over 100 affiliate partners. As Loanconnect grows across Canada and Creditlinks launches in India, Rice hopes to continue to expand allowing global access to a lending network that puts those in need at the forefront of their financial freedom. Search LoanConnect’s lender network and find out more about Canada’s premier personal loan search engine at www.loanconnect.ca.