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Scotiabank to Join With Kabbage for Online Small-Business Loans

  • Bank to offer loans to business customers in Mexico, Canada
  • Scotiabank is an investor in Atlanta-based fintech firm

Bank of Nova Scotia, Canada’s third-largest lender by assets, is collaborating with financial technology firm Kabbage Inc. to offer loans online to small businesses.

The program will be available in Canada starting next month and in Mexico later this year, Atlanta-based Kabbage said Wednesday in an e-mailed statement that didn’t include terms. Business customers can apply for loans through Scotiabank’s website in the two countries and get a decision within seven minutes, according to the statement.