MONTRÉAL, Sept. 8, 2016 /CNW Telbec/ - IOU Financial Inc. (TSX Venture Exchange: IOU) ("IOU or the "Company") a leading online lender (IOUFinancial.com) to small businesses in the United States is pleased to announce its entrance into Canada.
"We are very excited to have the opportunity to serve Canada and provide access to capital not otherwise offered by traditional banks," stated CEO Phil Marleau. "IOU's unique approach will revolutionize small business lending in Canada. Our focus, in combination with our proprietary credit score technology, will provide Canadian businesses immediate access to capital they need to grow."
"Since 2009, we originated over US$365 Million loans in the USA . We are looking to fuel the growth of small businesses nationwide and are positioned to become the small business lender of choice in Canada.," added Marleau.
Nearly 1 in 3 small businesses with less than 20 employees seek capital each year in Canada, reports Statistics Canada. "These merchants are consistent with our target," mentions Robert Gloer, President and COO. "Our typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees, and e-commerce companies. The types of business that form the back-bone of the economy across both Canada and the United States. They want quick access to capital to be able to begin their growth curves sooner and maximize their ability to seize opportunities."
IOU Financial will enter the Canadian market making loans of up to $100,000 to qualified applicants as fast as 24-48 hours. IOU Financial's speed and transparency make it a trusted alternative to banks. To learn more or apply for a loan, visit: IOUFinancial.ca or call 1-844-760-5468.
About IOU Financial Inc.
In addition to the details above, IOU Financial provides small business loans throughout the U.S. and Canada with affordable charges favourable to cash-flow management. It makes loans of up to $150,000 in the United States. It is headquartered in Montreal, Quebec, with its operations based in Atlanta, GA. To learn more visit: IOUFinancial.com.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE IOU FINANCIAL INC.
For further information: Philippe Marleau, Chief Executive Officer, (514) 789-0694 ext. 225; David Kennedy, Chief Financial Officer, (514) 789-0694 ext. 278