TORONTO, Jan. 28, 2020 /CNW/ - 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.
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 $4 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.
SOURCE LendCare
Media inquiries: Jackie Bain, Head of Marketing, [email protected], 1-866-291-4045 ext. 1801
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