Mr. Pouya Zangeneh reports

THE NEW SCOTIA(TM) HOME HARDWARE PRO VISA* BUSINESS CARD DESIGNED FOR SMALL BUSINESSES

Bank of Nova Scotia knows that small businesses make up more than 98 per cent of the employers in Canada and account for more than 63 per cent of all jobs, highlighting their role as the backbone of the Canadian economy. Scotiabank and Home Hardware have teamed up to launch the new Scotia Home Hardware PRO Visa Business Card designed to support entrepreneurs in the trades and construction industry to better manage and expand their business.

Scotiabank and Home Hardware are raising the bar for small businesses by offering rewards in the marketplace through the Scene+ loyalty program, with features including a competitive variable interest rate, no annual fee, a 21-day interest-free grace period on new purchases and credit limits up to $500,000, enabling them to invest more in their growing businesses.

The new card combines the convenience of a Visa credit card with a variable interest rate and ability to earn Scene+ points on purchases made at Home Hardware. Unlike comparable cards, Scotia Home Hardware PRO Visa Business cardholders have more flexibility to redeem Scene+ points on a wide variety of options like travel, grocery, dining, entertainment, home improvement and more.

The Scotia Home Hardware PRO Visa Business Card allows small business owners to manage their expenses more efficiently with Visa Spend Clarity for Business, a Web-based tool that allows you to track expenses and helps you stay on budget.

"Contractors, builders and tradespeople make an enormous contribution to the Canadian economy and the segment continues to grow to match the growing demand for new homes and renovations," said Pouya Zangeneh, senior vice-president of small business at Scotiabank. "Fast, reliable and secure access to credit is crucial for the daily operations of small business owners, and with the Scotia Home Hardware PRO Visa Business Card we are delivering the ultimate tool that provides tremendous value that will help enhance the way they operate their small business."

"For 60 years, Home's Dealers have been champions of the PRO contractors in their local communities," said Laura Baker, chief marketing officer, Home Hardware Stores Ltd. "The Scotia Home Hardware PRO Visa Business Card brings immense value to our PRO customers, giving tradespeople, contractors and builders alike the power to manage and grow their businesses while being rewarded with Scene+ points for purchasing the building materials and supplies needed to complete every job."

Home Hardware is Canada's largest 100 per cent dealer-owned hardware, lumber, building materials and furniture retailer with more than 1,000 locations nationwide.

New Scotia Home Hardware PRO Visa Business Card customers have until May 31, 2024, to take advantage of a promotional offer of 15,000 bonus Scene+ points when you are approved for a new account.

Scotia Home Hardware PRO Visa Business Card features:

• Lower interest rate, no annual fee and 21-day grace period on new purchases;
• Credit limits up to $500,000;
• Earn one point for every $1 spent on eligible business purchases at Home Hardware locations in-store and on-line at the Home Hardware website;
• Set card limits for supplementary cardholders;
• Tap and digital wallet functionality;
• Card spend management capabilities through Visa Spend Clarity (provided by Visa Canada);
• Save up to 25 per cent on car rentals at participating Avis and Budget locations;
• Purchase security and extended warranty.

Optional Scotia business loan protection insurance is also available for the Scotia Home Hardware PRO Visa Business Card.

About Bank of Nova Scotia

Scotiabank's vision is to be its clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by its purpose, for every future, the bank helps its clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4-trillion (as at Oct. 31, 2023), Scotiabank trades on the Toronto Stock Exchange and New York Stock Exchange.