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With a background in tourism and hospitality, Sharma moved from India to Canada in 2018, studied business administration at the University of Manitoba in Winnipeg and worked at SkipTheDishes’ headquarters before going all-in on his dream to open his own restaurant.

After finding the perfect location, he started a funding application with ACU, but abandoned it halfway through. Two days later, Palwinder Singh, commercial account manager of small business at ACU, reached out. That connection would ultimately help Sharma turn his vision into reality.

“He asked me about my business plan, forecast, and funds—and said he could help,� says Sharma. “He guided me so well toward this goal, and the process to secure financing was straightforward and smooth. �

In January 2025, Sharma opened the doors to his Indian restaurant, Amantran—whose name means “welcome�—on Portage Avenue in Winnipeg.

The personalized attention Sharma received from ACU—and the ongoing support and advice from his dedicated advisor—exemplify what sets credit unions apart in serving small businesses.

“Small businesses often face hurdles with other financial institutions—like strict credit requirements, higher interest rates, a lengthy approval process, and a lack of personal guidance,� says ACU’s Singh. “We try to understand every aspect of their business, their goals and challenges, and help them develop thorough business plans to mitigate risks.�

Nigel Mohammed, vice-president of ACU’s Community Financial Centre, explains that entrepreneurs are often asked by traditional lenders to pledge personal collateral, like their homes or investments. “At ACU, we look at the business independently from the individual,� he says. “If there aren’t any business assets, we explore different programs that will satisfy the collateral requirement.�

When it comes to debt servicing, ACU’s solid roots and expertise in the community provide a unique view. “Over the years, we’ve built a strong understanding of the local market. For example, we understand whether a restaurant in a particular neighbourhood serving a certain type of cuisine can reasonably generate X number of dollars per month,� says Mohammed. “In the absence of historical data, we can determine if their projections are realistic and that the business can afford the financing.�

Like ACU, Beem Credit Union in British Columbia takes a community-focused approach to supporting small businesses. “We believe that when we support small businesses, we are supporting a thriving local economy, which essentially benefits all community members,� says Scott Allman, vice-president of small business banking at Beem. “We also fill gaps, as we are located in some communities that are underserved and we may be the only financial institution in the area. So, we play a part in supporting the long-term sustainability of that community.�

Beem prioritizes building relationships and creating personalized solutions. “Because we are locally based, we’ve got boots on the ground—we know the community, we know the businesses, and we often know the owners behind the businesses,� Allman says. “We look beyond basic checkbox lending parameters by knowing and understanding our members, and spending time looking at their business and how we can support them.�

Combined with that personal touch is a focus on next-generation technology. One tool Beem uses is a lending analytics platform that helps enable faster credit decisions. “We want to make sure we serve our business members in a timely fashion, and we have digital solutions that help facilitate that,� says Allman. “the lending analytics platform has been a great solution for many of our small businesses because it simplifies the lending process and allows us to provide credit quickly.�

While technology enables greater efficiencies, credit unions remain grounded in strong relationships. In the London, Ont., area, Libro Credit Union prides itself on its ability to provide white-glove service for all business owners—and be proactive, rather than reactive. “Product innovation is likely not where we’re going to win. It’s going to be the one-to-one relationship and finding the ideal intersection between human and digital,� says Greg McQueen, senior vice-president, business and community banking.

“When businesses approach us, it’s not necessarily that the products and services aren’t available at other institutions,� he says. “It’s in the execution— they have a difficult time finding somebody who has the time and capacity or expertise to build a relationship with.�

Libro’s personalized approach sometimes calls for creative solutions. McQueen shares the example of an up-and-coming farmer who immigrated to Canada 10 years ago. After gaining experience in the poultry industry, the budding entrepreneur set out to start a broiler operation.

“The barriers to entry in this industry are high—you need to purchase a quota, you need to have the land and build a barn,� says McQueen. “We were able to think creatively about how we would finance this individual because we saw real potential. We looked at what we could finance, what other programs could help, and came up with a unique finance scenario—one that we couldn't provide to everybody but made a lot of sense in this situation.�

For McQueen, his advice to small owners is simple: “Find a financial institution you can trust, that will provide holistic advice and is deeply invested in the local community.â€� For many, that trusted partner is a credit union, most of which are represented in Canada by the ºÃÉ«tv Credit Union Association.

Across Canada, stories like these highlight how credit unions do more than provide financing—they empower small business owners to succeed. By combining local insight, personal relationships, and flexible solutions, credit unions help entrepreneurs turn their ideas into lasting contributions that strengthen both the economy and the communities they serve.