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12 November 2020

News

LendCare Announces New $85 Million Financing Facility

LendCare Announces New $85 Million Financing Facility

TORONTO, November 12, 2020 – LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has secured a new $85 million (CAD) financing facility from a leading international financial services company. This new facility will be in addition to the company’s existing senior and supplemental facilities, providing LendCare with a total funding capacity of over $600 million (CAD) to support their existing portfolio and anticipated originations over the next 12 months. “We welcome this new strategic lending relationship to our existing and diversified stable of lenders. Through this increase in funding capacity, along with FrontLine, our proprietary online financing technology, we stand well-positioned to execute on our goals for the next year.” said Ali Metel, CEO, LendCare Capital. Earlier this year the company launched their proprietary online financing technology, FrontLine, which features instant credit decisions and multi-device access to loan applications, fortifying LendCare’s position as an industry leader in the full credit spectrum POS financing sector. FrontLine is a single technology, integrated with a single lender to address financing needs from Prime to all the non-Prime credit grades.

About LendCare Capital

LendCare is a Canadian consumer finance and technology company, which enables over 6000 businesses to increase their revenue by providing full credit spectrum financing at the point-of-sale. For over a decade, LendCare has cleared a path to providing fast, reliable and affordable financing options for the Powersports, Auto, Retail, Home Improvement and Health sectors, while processing over $5 billion in loan applications to date. With a dedicated team of finance experts and well-established partnerships with merchants, top dealerships and brokers, LendCare bridges the gap between credit score and customers living their best life.

Media inquiries: Jackie Bain, Head of Marketing jbain@lendcare.ca 1-866-291-4045 ext. 1801

Related links: www.lendcare.ca


LendCare to be acquired by goeasy Ltd.

LendCare to be acquired by goeasy Ltd.


On April 12, 2021, we announced that LendCare has entered into an agreement to be acquired by goeasy Ltd. goeasy is one of Canada’s leading providers of non-prime leasing and lending services offering a wide variety of financial products that help put Canadians on a path to a better financial future.


We are excited about what this strategic acquisition means for LendCare, our employees, customers and our partners. We will continue to build on the incredible growth we have achieved to date and accelerate our growth strategy as goeasy makes investments in the LendCare business.


LendCare will continue to operate as it does today, so there are no changes to how you work with us. Our existing leadership team will remain in place and you will continue to work with the team as you always have, business as usual. Our teams will continue to provide the high level of support you are used to receiving.


Read more about this announcement.