[February 04, 2020]

BFS Capital CEO Mark Ruddock Joins Board of Canadian Lenders Association

The Canadian Lenders Association (CLA) today announced that BFS Capital CEO Mark Ruddock has joined its Board of Directors. The appointment comes as the CLA refreshes its commitment to be the national leader advocating for innovative, safe and ethical lending practices in Canada.

Ruddock was recently named one of the 2019 Top 25 Leaders in Lending, an award given by the CLA. As part of his new role, he will work with the CLA's leadership team on initiatives that support the growth of companies in Canada's lending ecosystem and benefit consumers and small businesses, including open banking, risk-based pricing and responsible lending.

"The fast-growth Canadian lending marketplace and the vibrancy of Toronto as a center for tech and AI talent makes it an exciting place from which to reimagine and build the future of small business financial services. I'm honored to join the board and help the CLA shape and advance innovation, inclusive lending and public policy among the industry and with our esteemed members," said Mark Ruddock, CEO, BFS Capital.

BFS Capital began issuing small business loans in Canada in 2012 and has increased its market presence with the opening of a new data science and engineering hub. This center of excellence is focused on developing mobile-first digital financial products for small businesses across the globe and creating meaningfully improved experiences for customers and partners. The hub will ultimately employ up to 50 people across echnology, data science, customer operations and digital marketing, making use of Toronto's increasingly attractive market for technology talent.

The CLA represents Canada's innovative lending community. They work to facilitate the exchange of ideas and explore ways of improving the sector, educate the public at large about innovative funding for small business owners, encourage principled and professional practices among their members, and advocate on their member's behalf.

"The CLA welcomes Mark as the newest member of our board. Mark's international financial services experience across both consumer and small business lending and his commitment to best-in-class practices will be an asset to the CLA as we work to transform our industry and create more opportunity and choice for borrowers," said Gary Schwartz, President of the CLA. "Our focus this year will be on open and accessible information, innovation, interoperability, diversity and representation, and the education and promotion of the financing industry in Canada, and we look forward to Mark's contributions towards these goals."

About BFS Capital

BFS Capital champions the long-term growth and prosperity of small businesses by providing timely, flexible financing solutions. BFS Capital's leading small business financing platform leverages customized underwriting and proprietary algorithms to fund businesses in the United States, Canada, and through its United Kingdom subsidiary, Boost Capital. Since 2002, BFS Capital has provided over $2.3 billion in total financing to over 24,000 small businesses across more than 400 industries. Headquartered in South Florida with offices in New York, California, the United Kingdom and Canada, BFS Capital is an accredited BBB company with an A+ rating.

About the Canadian Lenders Association

The CLA supports the growth of companies that are in the business of lending, or providing other means of credit, to small business and individuals using innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices; educate the public at large about innovative lending; encourage individual potential borrowers to be informed about the appropriateness of innovative lending to the borrowers' circumstances; and to advocate on behalf of, and represent the interests of, innovative lenders. To learn more about the CLA, please visit its websites at: www.canadianlenders.org and at www.canadianlenderssummit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200204005574/en/

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