MONTREAL, Nov. 12, 2019 /CNW Telbec/ - Fairstone Financial Inc. ("Fairstone"), Canada's leading non-bank provider of responsible lending solutions for near-prime borrowers, announced today that it will pre-approve, subject to meeting certain criteria, all current Accord D retailers in Quebec for in-store consumer purchase financing.
Headquartered in Montreal, Quebec, Fairstone (previously known as CitiFinancial) has provided retail point-of-sale ("POS") financing across Canada for over 50 years. Fairstone services retailers, both large and small, in furniture, home improvement, electronic and appliance sectors.
"We recognize that recent announcements may have generated concerns around the availability of retail POS financing for consumer purchases in Quebec. Fairstone has been a part of the retail financing landscape in Quebec and Canada, under different branding, for decades and remains committed to working with Quebec retailers to simplify purchases and the financing process for their customers," said Serges Bériault, Senior Vice-President, Indirect Lending at Fairstone.
Fairstone currently offers promotional financing across over 3,700 retail locations in Canada. Over the last 10 years alone, Fairstone has underwritten over $20 billion in consumer lending and financing.
Digital Financing Solution Available for Quebec Retailers
As part of its retail POS financing offering, Fairstone provides retailers with an automated, mobile and digital financing platform which shortens customer financing approval times to under two minutes.
Fairstone's proprietary solution easily integrates with the existing retail experience and dramatically reduces time and friction associated with paper-based credit applications. With Fairstone retail POS financing, retail sales representatives can spend their time focusing on their customers' needs.
Retailers are encouraged to contact [email protected] or 1 888 394-8427 for more information on Fairstone retail POS financing.
About Fairstone Financial Inc.
Fairstone is Canada's leading non-bank provider of responsible lending solutions for near-prime borrowers with over $3 billion in assets on a consolidated basis. Fairstone, including through its predecessors, has close to a 100-year history of providing Canadians with access to responsible credit. The Company has two key business lines: lending directly to consumers through its branch network and online; and financing consumer retail and car purchases through retailers and dealerships. Headquartered in Montreal, Fairstone is privately-held by an investor group led by funds managed by affiliates of J.C. Flowers & Co. LLC and Värde Partners. More at fairstone.ca/retail-financing.
SOURCE Fairstone Financial Inc.
For further information: Fiona Story, Vice-President, Corporate Communications, [email protected], 514 394-2400 x6306031