Woveo partners with BDC on business microlending program

Calgary-based FinTech Woveo is partnering with the Business Development Bank of Canada (BDC) to launch a microlending program. Announced on Wednesday, the $10-million partnership will provide access to loans of up to $25,000 for small and medium-sized businesses (SMBs) across Canada, with the exception of Québec, where Woveo is still working to meet the province’s French-language requirements. Woveo co-founder and CEO Jonah Chininga said the company aims to expand to Québec in 2027.