TORONTO, Dec. 30 /CNW/ - Dave Baker, President of the Newstart Canada Group of Companies is pleased to announce that they have received their first advance from their new senior debt facility.
Newstart Financial Inc. has recently been provided a 15 million dollar senior debt commitment from Newstart Capital Inc. Newstart Capital Inc. is selling a two (2) year renewable bond offering which will pay 10% interest per annum and is RRSP & TFSA eligible. Accredited Investors can learn more about the offering at www.peertopeercanada.com. Peer to Peer Canada will help to connect un-bankable Canadians needing financing with accredited investors looking for fixed income investments and our vendors who are able to provide vehicles and other consumer products. Our program is unique because facilitating these connections is the Newstart Group of Companies.
Often peer to peer programs simply connect borrowers and investors. The investor carries all the risk and transactions are web-based. The Newstart Group of Companies borrows from Accredited Investors and, in turn, lends out to the consumer, always maintaining an equity position to mitigate risk. Newstart provides all collection, administration and accounting services throughout the transaction. Our peer to peer program prefers to see and touch the financed customers and products in person. Vendors also share in the risk of the transaction.
About The Newstart Canada Group of Companies: Canada's original micro lender has been helping un-bankable Canadians improve their credit ratings since 1978. The Toronto, Ontario based group of companies has now provided over 30,000 consumer loans to customers who lack a sufficient credit rating to borrow from a traditional bank. Newstart connects customers, vendors and investors through its unique "Peer to Peer" program. Until recently Newstart Canada's focus has been in the Auto Finance sector but the company is receiving interest from many other vendor controlled financing channels.
SOURCE NEWSTART CANADA
For further information: For further information: Wendy Bickers, (416) 286-7400 Ext. 226