Fairstone Financial Inc. Selected as Point-of-Sale Financing Partner for Kent Building Supplies

MONTREAL, Oct. 17, 2019 /CNW Telbec/ - Fairstone Financial Inc. ("Fairstone"), Canada's leading non-bank provider of responsible lending solutions, recently signed an agreement to provide point-of-sale ("POS") financing for all retail purchases across 49 Kent Building Supplies ("Kent") locations across Atlantic Canada.

As part of its retail POS financing offering, Fairstone is also providing Kent with an automated, mobile and digital financing platform which shrinks customer financing approval times to under two minutes.

"We're pleased to work with Kent to provide a positive financing experience for their customers and a simple, easy-to-manage solution for their in-store associates," said Serges Bériault, Senior Vice President, Indirect Lending at Fairstone.

Fairstone's proprietary solution easily integrates with existing retail experiences and dramatically reduces time and friction associated with paper-based credit applications. With Fairstone POS financing, retail sales representatives can spend their time focusing on their customers.

"Providing the right solution for our customer's needs has been part of our customer promise for decades. We're pleased to be working with Fairstone to provide a simple, digital financing solution that gets our customers a step closer to realizing their home renovation and building goals," said Mike Simms Kent General Manager and VP Retail Division, J.D. Irving, Limited.

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.

About Kent Building Supplies
Kent Building Supplies is Atlantic Canada's leading chain of home improvement stores with 49 convenient retail locations across New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland & Labrador.

SOURCE Fairstone Financial Inc.

Fiona Story, Vice President, Corporate Communications, Fairstone Financial Inc., [email protected], 514 934-2400 x6306031