Fairstone Financial to provide exclusive financing program for BMTC Group's subsidiary
Ameublements Tanguay Inc. and its two divisions, Brault & Martineau and Economax
MONTREAL, March 21, 2022 /CNW Telbec/ - Fairstone Financial Inc. ("Fairstone"), Canada's leader in responsible lending solutions, and BMTC Group Inc. ("BMTC Group"), one of Quebec's largest furniture, appliance and electronics retail networks, announced today an exclusive long-term partnership to offer in-store and online point-of-sale ("POS") financing to customers of Brault & Martineau, Ameublements Tanguay, Maurice Tanguay Signature, Liquida Meubles and Economax across their 32 stores in Quebec.
"We are proud to partner with BMTC Group and support the expansion of the e-commerce strategy of their five consumer banners," commented Serges Bériault, Senior Vice President, Indirect Lending at Duo Bank/Fairstone. "As we continue to significantly expand our presence in POS financing, we are committed to providing strong omnichannel financing solutions to leading retailers in Quebec and across Canada so that they can deliver an unparalleled experience to their customers."
"It was important for us to find a partner that would have a good understanding of our business processes and customer service. In our discussions with Fairstone, we realized that our cultures and values are very similar. We are pleased to be able to continue to improve the experience of our customers, as well as that of our staff, through an ever-evolving financing platform," said Jacques Tanguay, President of Ameublements Tanguay.
With nearly a century of experience in consumer lending in Canada and a leading position in POS financing, Fairstone offers reliable expertise in this field. With its proprietary technology that facilitates the customer experience, the company has the ability to easily manage a large volume of financing that allows Fairstone to partner with large and small retailers across Canada.
Fairstone will assume management of the BMTC Group portfolio in early summer 2022.
About Fairstone Financial Inc. and Duo Bank of Canada
Fairstone is Canada's leading provider of lending solutions for near-prime borrowers, with close to a 100-year history of providing Canadians with access to responsible credit. Fairstone is an operating subsidiary of Duo Bank of Canada and, combined, have over 1.5 million customers and $5 billion in assets on a consolidated basis. With nearly 1,500 employees nationally, the combined entity provides services through two business lines. The Direct Lending business offers near-prime customers unsecured personal loans, secured personal loans, mortgages and optional ancillary products such as creditor insurance to consumers online and in over 240 branches from coast to coast. The Indirect Lending business encompasses credit cards, rewards programs, retail point-of-sale ("POS") financing through merchants, automobile and power sports through dealerships. Fairstone has again been named one of Montreal's top employers for 2022. More at: www.fairstone.ca and www.duobank.com.
SOURCE Fairstone Financial Inc.
Caroline Morin, Vice President, Corporate Communications, [email protected], 1 833 461-2900
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