Fairstone Bank
- Company typePrivate
- Founded1923
- HeadquartersMontréal, Canada
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
Fairstone Bank firmographics
Firmographics- Name
- Fairstone Bank
- Legal name
- Fairstone Financial Inc.
- Website
- https://www.fairstone.ca
- Company type
- Private
- Founded year
- 1923
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
Fairstone Bank industry classification
Industry- Product category
- Consumer Lending / Alternative Banking
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (522110), Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Near-Prime Unsecured Personal Loans (Installment) (FSAKAAAB)
- akta.pro secondary industries
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Balance-Sheet / Portfolio CRE Lending (FSALADAG)
Keywords
Where Fairstone Bank is headquartered
LocationHeadquarters
- HQ city
- Montréal
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Fairstone Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others
Revenue model
- Interest Income on Loans: Fairstone generates primary revenue through interest income on its loan portfolio, including unsecured personal loans (up to $25,000), secured personal loans (up to $60,000), home equity loans, and commercial lending activities. Interest rates charged to borrowers range from 19.99% to 34.99% depending on loan type, credit profile, and province of residence.
- Deposit Note Issuances: Fairstone raises capital through institutional deposit note offerings. The bank completed a $400 million deposit note offering (oversubscribed nearly 3x, maturing 2029) and a $250 million inaugural deposit note offering (attracting over $1.2 billion in demand from 35 institutional investors). These issuances support the bank's strategic funding and growth objectives.
- Reverse Mortgage Revenue: Home Trust Company, a Fairstone subsidiary, generates revenue through its EquityAccess reverse mortgage product, allowing homeowners 55+ to convert home equity into tax-free, payment-free funds, distributed through the mortgage broker network.
- Retail Financing Partnerships: Fairstone partners with major retailers such as Best Buy and Timber Mart to provide in-store retail financing, generating revenue through the financing arrangements with these retail partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Unsecured personal loans from $500 to $25,000 |
| Unit Pricing | Monthly | Secured personal loans up to $60,000 |
| Unit Pricing | Monthly | High-cost credit — unsecured personal loans (licensed provinces) |
| Unit Pricing | Monthly | Secured personal loans with home equity or vehicle collateral |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels6 records
Fairstone Bank product offering
Product offeringCore offering
Fairstone Bank provides responsible lending solutions to near-prime and non-prime Canadian borrowers who have been rejected by traditional banks. It offers unsecured personal loans ($500-$25,000), secured personal loans (up to $60,000 with vehicle or home equity collateral), home equity loans, retail point-of-sale financing partnerships, and reverse mortgages through its Home Trust subsidiary. The company operates 235 physical branches across Canada and serves customers through both in-person and digital lending channels.
Product overview
Fairstone Bank operates as Canada's leading alternative lending institution, offering a unified platform of near-prime financial products through both direct lending and subsidiary brands. The core product suite includes unsecured personal loans ($500-$25,000), secured personal loans ($500-$60,000), home equity loans, and retail financing partnerships with retailers like Best Buy and Timber Mart. Following the 2025 merger with Home Trust Company, the portfolio expanded to include Home Trust's specialized mortgage products: Classic Mortgages, Equityline Visa, One Charge, and the newly launched EquityAccess reverse mortgage for Canadians 55+. The Eden Park acquisition added auto finance capabilities with nationwide dealer network integration. A pending $1.9 billion acquisition of Laurentian Bank will further expand commercial real estate activities, positioning the combined entity across consumer lending, alternative mortgages, auto finance, and commercial lending segments. With 235 branch locations across Canada and interest rates ranging from 19.99% to 34.99%, Fairstone targets borrowers with fair to good credit scores who have been rejected by traditional banks.
Differentiator
Problem solved
Functional benefit
Brands
- EquityAccess: Reverse mortgage product suite for Canadians 55 and older, allowing homeowners to convert home equity into tax-free, payment-free funds
- Home Trust
- Home Trust Company
Products and services
- Unsecured Personal Loans Unsecured personal loans ranging from $500 to $25,000 for near-prime borrowers rejected by traditional banks, with interest rates of 19.99% to 34.99% depending on province and credit profile.
- Secured Personal Loans Secured personal loans up to $60,000 backed by collateral such as vehicles or home equity, offering lower interest rates than unsecured options and streamlined digital application via virtual appraisals.
- Home Equity Loans Home equity-based lending products that allow borrowers to leverage property value for funding, complementing the secured loan portfolio.
- Retail Financing Point-of-sale consumer financing offered in partnership with major retailers such as Best Buy and Timber Mart, enabling in-store credit for consumer purchases.
- EquityAccess Reverse Mortgage Reverse mortgage product allowing Canadian homeowners aged 55 and older to convert home equity into tax-free, payment-free funds, distributed through the mortgage broker network.
- Classic Mortgages Home Trust's specialized mortgage product offerings, part of the alternative lending portfolio following the merger with Fairstone.
- Equityline Visa Home Trust's home equity line of credit product with Visa card access, part of the combined entity's alternative lending offerings.
- Auto Finance (Eden Park) Near-prime automobile financing provided through the Eden Park brand, leveraging an integrated nationwide dealer network across Canada.
- Deposit Notes Institutional deposit note offerings used to raise wholesale funding from institutional investors, demonstrating strong investor demand and the Bank's credit strength.
Quantifiable outcome
- 20:1 ROI from AI-powered outreach campaigns
- +3 more outcomes
Companies that use Fairstone Bank
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Fairstone Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature2 records
Fairstone Bank partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Laurentian Bank of CanadacoreFairstone Bank will acquire all outstanding common shares of Laurentian Bank for approximately $1.9 billion in cash at $40.50 per share (a 20% premium). Upon closing (expected late 2026 pending shareholder and regulatory approvals), Laurentian Bank will become a wholly owned subsidiary of Fairstone and refocus on commercial real estate lending, inventory and equipment financing, and capital markets activities.
- National Bank of CanadaminorIn the coordinated split-sale transaction with Laurentian Bank, National Bank of Canada is simultaneously acquiring Laurentian Bank's retail and SME banking portfolios (totaling approximately C$4.1B in loans and C$8.2B in deposits) and syndicated loan portfolio (~$0.9B). Both transactions are expected to close by late 2026 pending regulatory approvals.
- Home Trust CompanyminorFairstone Bank of Canada and its subsidiary Home Trust Company partnered for Financial Literacy Month in Canada, launching the third annual 'Check Your Credit Score Day' on November 2, 2025. The initiative encourages Canadians to review credit reports through platforms like Equifax, Borrowell, or ClearScore to support financial decision-making and mortgage readiness.
- Home Trust CompanycoreFairstone and Home Trust completed a merger to form one of Canada's largest alternative lending institutions, combining Home Trust's specialized mortgage expertise with Fairstone's near-100-year legacy in alternative lending. The newly combined entity is led by CEO Scott Wood and provides brokers with a broader product lineup and streamlined processes.
- JA CanadaminorFairstone's Community Matters Month included a partnership with JA Canada's business education program for children. During this initiative, employees coordinated charitable activities including a food drive that collected 257 pounds of food for local food banks across Canada.
- JA Nova ScotiaminorFairstone partnered with JA Nova Scotia for business education programs for children, part of its broader community engagement strategy during Community Matters Month. The partnership supports financial literacy education for young Canadians.
- Canadian Mental Health AssociationminorFairstone made a donation to the Canadian Mental Health Association, highlighting the bank's community engagement and social responsibility initiatives alongside other activities such as galas, keynotes on Black History Month, and partnerships with educational organizations.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Fairstone Bank competitors and assessment
Company assessmentDirect peers
- goeasy Ltd. goeasy is Canada's largest near-prime consumer lender, operating easyfinancial and LendCare. It is the closest direct peer to Fairstone, competing in unsecured personal loans, auto lending, and home equity products with similar target customers, pricing bands, and Canadian branch distribution.
- Laurentian Bank of Canada: Laurentian Bank is a Canadian Schedule I bank with a focus on commercial real estate, retail, and SME banking. It is the pending acquisition target of Fairstone, but in the interim it remains a directly comparable Canadian bank with overlapping retail and commercial lending operations.
- Equitable Bank: Equitable Bank is a Canadian alternative bank (Schedule I) focused on residential mortgages, deposit products, and specialty lending. It competes directly with Fairstone/Home Trust in alternative mortgage origination and is a comparable scale Canadian non-Big-Six bank.
- CWB Financial Group (Canadian Western Bank): CWB is a Canadian Schedule I bank with a focus on business banking, commercial lending, and equipment financing. It is comparable to the combined Fairstone/Laurentian entity on commercial banking lines, and provides a reference point for mid-size Canadian bank valuations.
- Cash Money: Cash Money is a Canadian alternative lender offering payday loans, lines of credit, and personal loans to near-prime and subprime consumers. It is a direct competitor in the high-cost credit segment that Fairstone serves through its branch network.
- iFinance Canada: iFinance Canada is a Canadian specialty consumer lender offering personal loans, debt consolidation, and retail financing. It competes directly with Fairstone in the Canadian near-prime lending segment with similar product positioning.
- Home Trust Company: Home Trust is a wholly-owned subsidiary of Fairstone following the 2025 merger, but it historically operated as a comparable Canadian alternative mortgage specialist. It remains a relevant peer for the reverse mortgage (EquityAccess) and mortgage origination segments within the combined entity.
Emerging players
- Mogo Inc. Mogo is a Canadian fintech offering personal loans, credit score monitoring, and digital financial products. It targets a similar near-prime consumer base as Fairstone but with a purely digital, fintech-led model, making it an emerging alternative in the same customer segment.
- Borrowell: Borrowell is a Canadian fintech providing free credit scores and personal loan matching/lending. It partners with Fairstone on the Check Your Credit Score Day initiative and serves overlapping near-prime customers, but as a marketplace model rather than a balance-sheet lender.
Broad incumbents
- National Bank of Canada: National Bank is one of Canada's Big Six banks and is acquiring Laurentian's retail and SME banking portfolios (C$4.1B loans, C$8.2B deposits) in the coordinated split-sale transaction. It is a large incumbent comparator for the retail/SME banking lines Fairstone is acquiring.
Market position
Strengths5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Fairstone Bank social profiles
Digital presenceFairstone Bank compliance and trust
Trust signalCompliance5 records
Fairstone Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fairstone Bank leadership team
Management profileNumber of profiles
Profiles3 records
Fairstone Bank subsidiaries and ownership
Company hierarchySubsidiaries3 records
Fairstone Bank funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fairstone Bank M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fairstone Bank
What does Fairstone Bank do?
Fairstone Bank provides responsible lending solutions to near-prime and non-prime Canadian borrowers who have been rejected by traditional banks. It offers unsecured personal loans ($500-$25,000), secured personal loans (up to $60,000 with vehicle or home equity collateral), home equity loans, retail point-of-sale financing partnerships, and reverse mortgages through its Home Trust subsidiary. The company operates 235 physical branches across Canada and serves customers through both in-person and digital lending channels.
When was Fairstone Bank founded?
Fairstone Bank was founded in 1923. It employs 1,001 to 5,000 people.
Where is Fairstone Bank based?
Fairstone Bank is headquartered in Montréal, Canada, in the North America region.
How does Fairstone Bank make money?
Four revenue lines are on record. Interest Income on Loans are the primary driver. The others are deposit Note Issuances, reverse Mortgage Revenue and retail Financing Partnerships.
Who are Fairstone Bank's main competitors?
Direct peers on record are goeasy Ltd., Laurentian Bank of Canada, Equitable Bank, CWB Financial Group (Canadian Western Bank), Cash Money, iFinance Canada and Home Trust Company. Emerging players are Mogo Inc. and Borrowell. National Bank of Canada is listed as a broad incumbent.
Does Fairstone Bank have an API?
No public API is recorded for Fairstone Bank.
What industry is Fairstone Bank in?
Fairstone Bank's product category is Consumer Lending / Alternative Banking. Its primary akta.pro industry code is FSAKAAAB, Near-Prime Unsecured Personal Loans (Installment), with a secondary code of FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines). Its NAICS code is 5221 and its SIC code is 6141.