iWasteNot Systems
BDC gave very quick, easy access to loans—including preauthorized financing that took just one day to access. As free of red tape as I could imagine.
Norm Ruttan
President
Helping people reduce, reuse and recycle in order to reduce ecological impacts on our planet.
About the company
Family-owned iWasteNot Systems develops online tools to help over 100 communities, states and provinces reduce, reuse and recycle.
Location: Mallorytown, Ontario
Industry: Computer Programming Services
Entrepreneur challenge
Norm Ruttan’s company iWasteNot Systems was just breaking even in terms of revenue, and he was worried about covering costs going forward. The firm needed loans to complete the development and commercialization of promising new software that would allow it to improve sales and scale.
BDC expertise
BDC provided Norm Ruttan’s company with a series of five small business loans to survive and scale, including a preauthorized offer that he was able to access and that allowed him to receive his funds in just 24 hours.
Results
- Grew revenues eight-fold since 2020 and navigated pandemic disruptions
- Tripled its workforce
- Brought two pieces of software to market, with a third under development
- Hired a social media expert who helped boost sales
- Collaborating with BDC’s Sustainability Venture Fund team