How This Founder Overcame Roadblocks When Launching a Financial Services Business Just After the Recession Financeit's CEO speaks about how some positive press helped the company build its customer base.

By MaRS Discovery District

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner MaRS DIscovery District talks with the of CEO and president of Financeit, Michael Garrity. Garity knew it would not be an easy task launching a business in Canada. The Ontario-based company started in the middle of the 2007-2008 financial crisis. The bad timing of the launch may have originally dented the company's efforts, but it eventually lead to a productive new direction.

The changing moment came when the lending company began receiving increasingly more press, despite not getting any revenue. Eventually, the media attention proved its worth by bringing more business opportunities to Financeit.

By 2017, the company was reviewing $1 billion in loan applications in Canada. The journey Financeit experienced shows the company just needed time to find its version of success.

Click the video to hear more.

Related: How Unforeseen Problems Can Be Your Sign to Push More Aggressively

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MaRS Discovery District is the world’s largest urban innovation hub. Located in the heart of Toronto, MaRS supports impact-driven startups tackling key societal challenges in the health, cleantech, fintech and enterprise sectors.

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