The microcredit sector in Quebec is about to undergo radical change.
With the coming into force of the new Bill 72, the way micro-loans operate will be fundamentally transformed, and non-compliance with the law will no longer be an option.
At Solicorp, we understand the challenges this represents. That’s why we’ve developed a comprehensive software solution not only to help your business stay compliant, but also to streamline your operations, allowing you to focus on growth in a changing regulatory environment.
What does Bill 72 mean for your micro-lending business?
Bill 72 introduces new rules and restrictions that make traditional micro-lending illegal in Quebec. The legislation aims to strengthen consumer protection, which means that businesses in this sector must adopt compliant lending models, or risk being driven out of business.
Navigating these changes can be complex, especially as enforcement approaches. However, with Solicorp’s all-in-one lending and management software, you won’t just survive these changes, you’ll thrive.
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We have the right solution for you
At Solicorp, we’ve worked tirelessly to ensure that our software is ready to meet the new requirements of Bill 72. We offer more than just technology – we become your compliance partner. Here’s how we can help:
Flexible loan models and product innovation
- Easily configure new loan products that comply with Bill 72.
- Adapt your current microcredit offerings to alternative loan structures.
- Transparently adjust interest rates, payment schedules and conditions to meet legal standards.
2. Integrated compliance tools
- Stay one step ahead with automated compliance checks and built-in alerts when processes deviate from legal requirements.
- Generate audit-ready reports to satisfy regulatory inspections.
- Benefit from our ongoing software updates as new details or amendments to Bill 72 are released.
3. End-to-end loan management on a single platform
- Consolidate all your loan operations – from origination to repayment – in a single, user-friendly interface.
- Track every stage of the loan lifecycle with real-time dashboards and data analytics.
- Eliminate inefficiencies by automating customer onboarding, credit assessments and repayment management.
4. Expert support and customized implementation
- Work with our experts to implement customized workflows tailored to your business model.
- Benefit from ongoing support to optimize your operations as legislation evolves.
- Rely on our experience in transitioning companies like yours to new regulatory frameworks.
Why choose Solicorp?
In these uncertain times, you need a partner who understands what’s at stake. Solicorp’s software is designed to keep your business flexible and compliant, giving you all the tools you need to succeed under Bill 72. We’ve earned a reputation for reliable technology and expert support, making us the solution of choice for lenders across Quebec.
Navigating Bill 72 together
Bill 72 may mark the end of traditional micro-lending, but it doesn’t have to mean the end of your business. Solicorp’s loan origination and management software allows you to adapt, stay compliant and continue providing financial solutions to your customers.
Stay compliant. Stay ahead. Grow with Solicorp.
Contact us for more information
Call us directly
Talk to an expert at 514-284-9950
Contact us today to find out how we can help you make a smooth transition to Bill 72. Together, we’ll build a future where your business doesn’t just survive, but grows stronger