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28 January 2020

News

LendCare Announces New Credit Facility to Support Unprecedented Growth

TORONTO, January 28, 2020 – LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has secured a new $100 million (CAD) financing commitment from a leading institutional asset manager. This facility supplements the company’s current $250 million senior facility, and along with other existing relationships brings LendCare’s total funding capacity to $450 million.

“We continue to maintain our singular focus of being Canada’s leading full credit spectrum POS lender for all Canadians, in all provinces and territories, for any purchase they may be considering. We are excited to add another relationship to our existing group of strategic funding partners to support us in that goal.” said Ali Metel, CEO, LendCare Capital. “2019 was a record-breaking year for us, culminating from a long history of strong originations and portfolio growth. Our diversified and scalable funding structure, along with our new innovative technology solutions and best-in-class service, positions us to gain further momentum into 2020 and beyond.”

This recent commitment further reinforces the success of LendCare’s strategic initiatives in its merchant relationships, OEM partnerships and the continued expansion into Powersports, Auto, Retail, Home Improvement and Health financing.


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.