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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.