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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.”


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