Kelowna-based alternative mortgage lender adds experienced managing director as it eyes national expansion
Shelter Lending Corporation, a Kelowna, British Columbia-based alternative mortgage lender, has acquired Accepted Financial Corp. in a move the company says is designed to strengthen its broker network and accelerate growth beyond its current western Canada footprint.
The acquisition, announced last week, brings Brad Currie, managing director of Accepted Financial Corp., into Shelter Lending's leadership team.
Financial terms of the transaction were not disclosed.
Shelter Lending's current scale
Founded in 2014 and rebranded in 2019, Shelter Lending operates as a Canadian alternative mortgage lender across British Columbia, Alberta, and Manitoba. The company runs a mortgage investment fund structured as a mutual fund trust and has grown to more than $100 million in assets under management.
The acquisition of Accepted Financial Corp. represents the latest step in what Shelter Lending has described as a longer-term plan to expand its national presence in the alternative lending space — a segment of Canada's mortgage market that has grown substantially in recent years as more borrowers find themselves unable to qualify under traditional bank lending criteria.
"As we continue to grow and execute our vision, we remain grounded in disciplined underwriting, strong relationships, and responsible growth," said Jayson Zilkie, president and chief operating officer of Shelter Lending. "Our goal is to continue building a lending company that brokers, borrowers, and investors can trust."
Alt lending's growing role in Canada
The deal comes as Canada's alternative mortgage sector continues to attract attention from lenders and brokers alike.
Many mortgage brokers who have traditionally focused on AAA clients are now seeing more deals migrate toward the alternative and private lending spaces. For lenders like Shelter Lending, that dynamic could create an opening, particularly in markets where borrowers fall between the conventional alternative and private lending categories.
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