PROFIT/Chatelaine W100

PROFIT W100 Sponsors

#53

Ann Kaplan

President & CEO
Finances medical, dental and veterinary procedures

Company Profile

Company: iFinance Canada Inc. Head Office: Toronto Website: www.ifinancecanada.com

Company Financials

3-year revenue growth (%): -2 Revenue: 15-25M Employees: 63
Revenue from Exports (%): 0    

Spotlight

That which does not kill you...: Kaplan is one of the many entrepreneurs on the W100 who not only survived but thrived in the wake of the 2008-09 financial crisis. She kept her business afloat, and positioned it for further growth, by reinventing its business model. The company changed its supplier mix to shift to lower-cost bank financing and use its financing facilities more cost-effectively. Kaplan renegotiated the terms on all of iFinance Canada’s cost line items to save 5% to 10%. She then set up an exempt-market dealership that could source funds at much better rates from qualified investors. “I was very transparent with our banks,” says Kaplan. “Initially, I told them, ‘I don’t know what my plan is yet, but we’re going to make big, positive changes.’”