Tenet Fintech Group Inc. Provides Update on Loans and Credit Facilitated by Cubeler® Business Hub in Canada
Tenet Fintech Group Inc. Provides Update on Loans and Credit Facilitated by Cubeler® Business Hub in Canada
Toronto, Ontario–(Newsfile Corp. – July 24, 2024) – Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Tenet” or the “Company”), a leading analytics service provider and operator of the Cubeler® Business Hub, has announced an update on loans and credit facilitated by the platform’s “Financing” module in Canada. This update comes ahead of the upcoming release of the platform’s “Networking” and “Advertising” modules.
The Company reported that between July 2023 and June 2024, a total of $976,500 in loans and credit were awarded on the platform. These funds were provided in various forms including receivables financing, merchant cash advances, term loans, lines of credit, and inventory financing. The loans were distributed among small and medium-sized enterprises (SMEs) operating in sectors such as construction, professional services, wholesale trade, accommodation and food services, management, and real estate.
Notably, loans and credit awarded to businesses in the professional services sector accounted for the largest portion at 46.08% of the total amount, followed by construction at 36.97% and accommodation and food services at 11.26%. The loans awarded ranged from $7,500 to $300,000, providing crucial financial support to businesses across various industries.
Evrard Nkwemi, Director of Financial Institution Relationships at Cubeler, expressed his excitement about the platform’s performance, stating, “We are very pleased to see that credit activity on the platform has not only gotten back on track but that we’re actually on pace to surpass the total amount of credit facilitated in 2023.” He also highlighted the valuable insights gained from the data collected on the platform, which will be further enhanced with the introduction of the Networking and Advertising modules.
Tenet Fintech Group Inc. is a parent company of innovative financial technology and artificial intelligence companies, offering analytics and AI-based products and services to businesses, capital markets professionals, government agencies, and financial institutions. The Cubeler® Business Hub serves as a global ecosystem where analytics and AI create opportunities and facilitate B2B transactions among its members.
For more information about Tenet Fintech Group Inc., please visit their website at https://www.tenetfintech.com/.
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This press release contains forward-looking statements that involve risks and uncertainties. Readers are advised to not place undue reliance on these statements. The Company assumes no obligation to update or revise forward-looking statements unless required by applicable securities laws.
Source: Tenet Fintech Group Inc.
