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29 July 2020

News

LendCare Announces Renewal and Expansion of Credit Facility to Support Unprecedented Growth

TORONTO, July 29, 2020 – LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has renewed and expanded one of the company’s supplemental credit facilities for $75 million.

“Maintaining a diversified group of strategic funding partners continues to be a focus for the company as we continue to experience unprecedented growth in originations. The summer is traditionally a busy time for us and 2020 was no exception as we saw originations in the month of June alone at almost $30 million with July expected to be the same.” said Ali Metel, CEO, LendCare Capital. “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. 2020 is on track to be another record-breaking year for us, and we look to our diversified and scalable funding structure to position us to gain further momentum throughout 2020 and beyond.”


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.