LendCare Expands FrontLine Point-of-Sale Finance Solution into Auto Repair Industry
TORONTO, May 27, 2021 /CNW/ - LendCare Capital Inc., a leading Canadian point-of-sale finance and technology company, today announced the launch of a digital point-of-sale financing solution, specifically dedicated to the auto repair industry. This solution will revolutionize the auto repair finance market by providing a unique, best-in-class product designed to make costly auto repairs accessible and affordable for consumers, while helping auto service businesses capture new and incremental repair revenue.
"We consider this program to be the first auto service point-of-sale financing solution of its kind, enabling Canadian vehicle repair businesses to extend their services, splitting costly repairs into affordable installment payments. This unique product's application process can be initiated by either the auto repair facility or by the customer, without credit checks", said Ali Metel, LendCare's Chief Executive Officer, "Completed applications can be submitted in either real-time at the point-of-sale of a specific location, or by any consumer in advance of proceeding to their preferred auto repair facility. By simplifying the financing process, it guarantees merchant payment, while allowing the customer to get back on the road, quickly and safely, in the same amount of time as someone paying by cash or credit card".
Following a successful pilot completed in the first quarter of 2021, the Company's proprietary point-of-sale finance platform, FrontLine, will now be rolled out to over 1,000 existing auto partners nationwide, before being released to the general market in the third quarter of 2021.
LendCare's end-to-end digital financing process alleviates the stress of costly and unexpected auto repairs, by enabling service centres to offer their services to consumers who are often unable to afford them. The solution, which is also used across other LendCare verticals, is designed to address the needs of service centres, while allowing consumers the option to get pre-approved before they set foot in a repair shop.
About LendCare Capital
LendCare Capital Inc., a wholly owned subsidiary of goeasy Ltd. (TSX:GSY), is a Canadian point-of-sale consumer finance and technology company, which enables over 3,000 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, automotive, retail, home improvement and health sectors, while processing over $6 billion in loan applications to date. With a dedicated team of finance experts and well-established partnerships with merchants, dealerships and brokers, LendCare bridges the gap between credit score and customers living their best life.
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SOURCE LendCare
Jackie Bain, Director of Marketing, [email protected]
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