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Canadian Imperial Bank of Commerce has teamed up with a small online lender, Borrowell Inc. (Fred Lum/The Globe and Mail)
Canadian Imperial Bank of Commerce has teamed up with a small online lender, Borrowell Inc. (Fred Lum/The Globe and Mail)

CIBC strikes partnership with online lender Borrowell Add to ...

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Canadian Imperial Bank of Commerce has teamed up with a small online lender, Borrowell Inc., offering an example of an established financial institution choosing to work with a rival rather than compete against it.

The deal will allow consumers to apply for loans up to $35,000 from CIBC’s website, giving the bank access to Borrowell’s cutting-edge personal loan adjudication technology and giving Borrowell access to CIBC’s 11 million clients.

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