Spring Financial

Spring Financial was established as a division of Canada Drives by Tyler Thielmann in Vancouver, British Columbia, in 2014.[1][2]

In 2016, Spring Financial launched a secured savings loan. From 2016 to 2024, the company expanded into more personal loans at various interest rates, including launching a prime personal loan in 2023.[3]

In 2019, Spring launched a mortgage brokerage operating under Spring Mortgage Group Inc. and licensed to offer mortgages in British Columbia, Alberta, and Ontario.[4]

In 2021, the company re-branded its secured savings loan product as The Foundation, with a much cheaper and shorter term.[5][6][7] Spring Financialalso launched The Evergreen, a guaranteed personal loan to anyone who completes the Foundation credit building program.[8][9]

In April 2022, Spring Financial completed a formal spin-out from Canada Drives, establishing itself as an independent entity.[10]

In 2023, the Canadian Lenders Association named Spring Financial the Consumer Lender of the Year.[11] The company was featured in Forbes magazine as one of the best personal loans in Canada,[12] and recognized as one of the top 3 most recommended personal loans in the country by Finder.[13]

In January 2024, the company launched its mobile app Bloom, a personal financial management (PFM) app designed to manage transactions, create budgets, and track expenses.[14]

Also, Spring Financial received certifications such as the Great Place to Work certification and the Platinum Trusted Service Award by Feefo.[15]

Spring Financial provides financial products, including unsecured personal loans, "The Foundation" credit-building products, mortgages, and home equity lines of credit for various credit scores. It allows quick approval without in-person visits.[16][17][18] The company is also a member of the Canadian Lenders Association.[19]

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