IOU Financial and Paysafe Partner to Fuel Small Business Growth

MONTREAL, September, 28th 2016 – IOU Financial (TSX-V: IOU), a progressive online lender (IOUFinancial.com) has entered into a partnership with Paysafe (PAYS: L), a leading global payments provider, to fuel the growth of small businesses in North America.

The partnership, which covers the U.S. and Canada, will combine both companies’ market expertise and services to provide small businesses with capital management solutions through their respective lending and processing platforms.

Paysafe is a leading provider of digital payments and transaction-related solutions for businesses.  With two decades of experience, the company offers a suite of integrated payment solutions to business software providers with the Group’s payment processing business managing more than $20bn worth of payments annually. These solutions improve merchant’s day-to-day efficiency and profitability.

Headquartered in Montreal, Canada and with its North American operations centre based in Atlanta, Georgia, IOU Financial provides merchants with the access to the capital they need to grow effectively and fast through its small business loans. Its client base includes medical and dental practices, grocery and retail stores, personal fitness and spas, restaurant and hotel franchises and e-commerce companies.

“Today’s small businesses are becoming more sophisticated and searching for partners that provide comprehensive capital management solutions,” commented Robert Gloer, President and COO at IOU Financial. “We are excited to partner with Paysafe.  We provide the capital to help businesses grow and Paysafe delivers upon their payment processing needs. This is a synergistic relationship to provide a suite of capital management solutions.”

Danny Chazonoff, Chief Operating Officer at Paysafe, added: “The number of small businesses that process payments and sell online in North America is constantly growing and it’s important for businesses to choose the right partners to help support their cash flow management and revenue growth. Through our partnership with IOU Financial, we aim to educate small businesses on the benefits and value of selecting the right partners for their needs with the objective of fueling the growth of their business.”

For more information on this partnership, please visit: https://ioufinancial.com/paysafe/

 

 

About IOU Financial

IOU Financial provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, the IOU Financial advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to $150,000 and $100,000 to qualified US and Canadian applicants within a few business days, with affordable charges favorable to cash-flow management. Its speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.com.

 

Contact

Christophe Choquart, VP Business Development and Strategic Partnerships, IOU Financial

CChoquart@IOUFinancial.com

Tel: 678-264-8584

 

About Paysafe

Paysafe provides digital payments and transaction-related solutions to businesses and consumers around the world. Paysafe is redefining payments by enabling fast, convenient and secure ways to pay before, pay now and pay later through its digital wallets, prepaid solution, payment processing and card issuing, and acquiring products and services. We believe that every point of every payment should be relevant, simple and secure. With two decades of experience, Paysafe is trusted by merchants, and by consumers in more than 200 countries and territories, to move and manage money through more than 100 payment types and 40 currencies. Paysafe offers multi-platform products with an emphasis on emerging payment technologies including mobile. Paysafe’s brand portfolio includes NETELLER® and Skrill®, MeritCard, paysafecard®, payolution®, Income Access and FANS Entertainment. Paysafe Group plc shares trade on the London Stock Exchange under the symbol (PAYS.L). For more information, visit:www.paysafe.com

 

Contact

Anna Howard, Head of Corporate Communications, Paysafe Group plc

anna.howard@paysafe.com

Tel: +44 (0) 20 3826 9822

Plan an Effective Holiday Party for Your Small Business

With the holiday season quickly approaching, many small business owners will be considering how they will celebrate this time with their employees and clients. Many employers host holiday parties to celebrate the season; however, as the end of the year is typical time to give out bonuses and pay increases, budgeting for these expenses is crucial. A holiday party can be a small and intimate affair or a grandiose event – but remember, as a business owner your end goal is to make money. Be thinking, “how can I use this to make employees more productive”, or “will key clients be more invested by attending?” Before sending out invitations, there are  three things to take into account when planning a corporate holiday party: your employees, your clients and your budget.

Employees

Decide how many employees you are going to invite; if you have a small team, this will be an easy choice. If you have a large workforce with hundreds of staff members, you will need to be certain that you can afford to invite them all. If you cannot, you will need to create a plan for selecting the team members you will invite.

Photo of happy colleagues holding champagne flutes at corporate party

You can choose the individuals who hold the most senior titles or who have been with the company the longest, or can focus on your star employees, such as your top salespeople. If you will not be able to invite the entire team, make sure the selection process is fair so that the employees who are not invited don’t feel slighted or overlooked.

Some bosses invite the employees’ spouses or entire families, depending on the type of event. Consider whether you will make this an option or not. The end goal of having employees attend the event is to reaffirm the hard work from the year, allow them to have some fun with co-workers, and encourage them for the year to come. Investing in employees attendance correlates to an investment in next years productivity.

Clients

A holiday party can be a good opportunity to network with current or prospective clients. You can utilize this event to introduce clients to staff members, or announce important company news or goals for the next year. Simply, a holiday party is a chance to impress your clients to increase their loyalty to your business.

Think about whether you want to invite your staff and your clients to one single event; and how you will choose who to have there. If you have a small business, such as a hair salon, a restaurant or a store, you can simply host a “Holiday Open House,” where you offer holiday treats to anyone that walks in. If you have a business that cannot accommodate a holiday party, or have VIP clients that will expect a finer affair, you will need to budget for a more elaborate event. Any event that you are inviting customers and clients to should ultimately give them reassurance in your business and generate future sales.

Budget

Once you have decided who you will invite to your office party, you need to budget for it. Consider whether you will be able to put on the event yourself, or with the help of your employees, or if you need to hire a professional event planner. If you decide on inviting over 50 people, it may be worthwhile to pay a professional instead of spending the time you can be focusing on your business, especially if the holiday season is a busy time for you. 

When deciding your budget also consider your return on investment. How much additional revenue will employees generate after their increase in motivation and loyalty to the company? Will customers recommit to using your service, or purchase more products when they are able to meet the team they are supporting? Ask these questions to start understanding what reasonable spending will look like for your small business, and if you need assistance in budget tracking, consider using a Business Budget Smart Sheet.

Although a holiday party can be a big investment, it can provide many benefits to your company, such as increasing employee retention, customer loyalty, and higher sales. It may be advantageous to secure a small business loan from IOU Financial to invest in this event to grow your business in the next year! Contact us today to get a loan in under 24 hours!

Restructuring Announced to Accelerate Profitable Growth

IOU Financial Inc. will begin a restructuring plan in September, 2016, which will reflect the company’s long-term outlook for loan origination growth of 25 per cent to 30 per cent annually.

The plan includes a reduction in the company’s operating expenses as well as a work force restructuring. Moreover, going forward, the company plans to focus more of its efforts on forming strategic partnerships with entities such as financial institutions, payment processors and small business service providers. In connection with the plan, IOU has eliminated its chief technology officer position. The company’s technology team will report to the chief financial officer, and will continue to work closely with the finance, analytics, sales and operations teams. The cost-reduction actions, once fully implemented, are expected to lower operating costs by approximately 15 per cent to 20 per cent to $2.0-million to $2.2-million for fourth quarter 2016 on a normalized basis.

“IOU is committed to achieving profitable growth by continuing to emphasize credit quality over volume and by continuously improving operational efficiencies,” said Phil Marleau, chief executive officer of IOU Financial. “IOU believes that these efforts are imperative to realizing its long-term objective of loan origination growth of 25 per cent to 30 per cent annually.”

About IOU Financial

IOU Financial provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, the IOU Financial advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to US$150,000 to qualified U.S. applicants ($100,000 in Canada) within a few business days, with affordable charges favorable to cash-flow management. It’s speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.com.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU Financial including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For Further Information:

Philippe Marleau David Kennedy
Chief Executive Officer Chief Financial Officer
(514) 789-0694 ext. 225 (514) 789-0694 ext. 298

4 Ways to Get an Organized Auto-Body Shop

Running an auto shop may seem pretty straightforward: cars come in, they get fixed, and cars go out. As simple as that sounds, there are more things to consider when turning those logistics into profits. One main consideration should be keeping your shop organized. Keeping your shop organized is not only good for the presentation and usability of an auto shop, it can be extremely beneficial to a shop’s efficiency and bottom line. In this post we will reveal the 4 ways to keep your auto-body shop organized and review why it’s important. Lets get started!

 

  1. Have a plan of where things go

The first place to start is in reviewing the current floor plan of your shop and outlining where you’d like things to go. Review what tools and equipment you have and place them in and around the area that makes the most sense. Map out the plan and outline how you want things to be placed. Keeping a clear layout and plan of where things go will help you get things in place and assist in keeping them there for years to come.

Why it’s important: By organizing the layout of your shop you can increase efficiency of staff accessing tools based on what services are done where and how tool placement can be strategically placed for less wasted steps around the shop! Keeping these objects in their place will reduce injury, and prevent equipment damage in day-to-day operations.

 

  1. Clean up at the end of each day

We all fall into the trap of “I will get to it later.” While our intentions are good, we often fall short and things we “should have” done turn into “never gets” done. Commit to cleaning the shop at the end of the day, put tools back in their places, and do not turn the lights off without everything being in order.

Why it’s important: Reducing the time it takes when opening the shop to find tools used the day before or tools blocking the flow of the workspace for staff will increase efficiency and reduce wasted time searching for parts, tools, or other needed materials at the start of a busy day.

 

  1. Review plans with your staff

What good is a plan if nobody knows it is in motion? If a shop is organized, the staff needs to know that the plan is in play. Sharing the plans with staff, what is expected, and where the tools and equipment are to return (by the end of work day) will help keep the shop organized on every day that ends in “y.” Don’t assume because tires are located in the “general tire area” that staff know they should also end back up there at the end of the day.

Why it’s important: In order to successfully execute any plan, communication is key. Keeping the well-outlined plans a secret mean you are the only one that will know where each piece of equipment goes, leaving you with cleanup at the end of each day.

 

  1. Label clearly

When starting an organized shop, one must consider labeling what tools you want to go where. Clearly label the sections for certain tools, the areas designated for larger equipment, and do not think any sign is too obvious. Be clear and exact with the labels so there is no question if the image used for screwdrivers is not interpreted as tire pressure gauges.

Why it’s important: Miss labeling will increase confusion of what goes where, thus increasing the time it takes to find a simple tool and decrease the time your staff are being paid to use it.

 

When it comes to organizing an auto body shop, the above 4 steps can be simple ways to start developing a well laid out plan for shops big and small. Understand the value and importance of shop organization is critical in adhering to those well laid out plans and steps towards maintaining not only the best shop in town but the most organized too!

If upgrading software, POS or other systems will help keep your shop organized, consider a small business loan from IOU Financial. You can receive working capital to streamline your operations in just 24 hours!

IOU Financial Ranks No.8 on the 2016 PROFIT500

MONTREAL, Québec, September 19, 2016 – IOU Financial Inc. (TSX Venture Exchange: IOU) a leading online lender (IOUFinancial.com) to small business in the United States and Canada, announces today that Canadian Business and PROFIT ranks IOU Financial as the #8 fastest growing company on the 28th annual PROFIT500, the definitive ranking of Canada’s Fastest-Growing Companies. Published in the October issue of Canadian Business and at PROFITguide.com, the PROFIT500 ranks Canadian businesses by their five-year revenue growth.

IOU Financial makes the 2016 PROFIT500 list as the #8 fastest growing company with five-year revenue growth of 5,886%.

“Companies become a part of the PROFIT500 through innovative thinking, smart strategy and sheer grit,” says James Cowan, Editor-in-chief of PROFIT and Canadian Business. “These firms demonstrate what Canadian entrepreneurs can achieve, both at home and across the globe.”

“We are honoured to be on the PROFIT500 list as the #8 fastest growing company. This achievement reflects the dedication and strength of our team,” said CEO Philippe Marleau. “We look forward to continued growth through our recent launch in Canada (IOUFInancial.ca) and our ongoing efforts to be the preferred and trusted lender to merchants in the US and Canada.

 

About PROFIT and PROFITguide.com

PROFIT: Your Guide to Business Success is Canada’s preeminent media brand dedicated to the management issues and opportunities facing small and mid-sized businesses. For 34 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.

 

About Canadian Business

Founded in 1928, Canadian Business is the longest-serving, best-selling and most-trusted business publication in the country. With a total brand readership of more than 1.1 million, it is the country’s premier media brand for executives and senior business leaders. It fuels the success of Canada’s business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. We provide concrete examples of business achievement, thought-provoking analysis and compelling storytelling, all in an elegant package with bold graphics and great photography. Canadian Business—what leadership looks like.

 

About IOU Financial

Endorsed by Kevin O’Leary of ABC’s Shark Tank, IOU Financial provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, the IOU Financial advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to US$150,000 to qualified U.S. applicants ($100,000 in Canada) within a few business days, with affordable charges favorable to cash-flow management. It’s speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.com.

 

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU Financial including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For Further Information:

Philippe Marleau David Kennedy
Chief Executive Officer Chief Financial Officer
(514) 789-0694 ext. 225 (514) 789-0694 ext. 298

 

Best Ways for Small Businesses to Plan for the Holidays

The holiday season means different things to business owners; while some experience a slow season, others have a surge in profits. Regardless, all small business owners need to prepare for this season, or your business could be negatively affected.

 

Plan for Holiday Recognition and Marketing

You must plan and budget for how you will recognize the holidays; realistically consider how much you can allocate to holiday decorating and recognition so that you don’t put your business in financial risk.

Some businesses simply hang a few holiday decorations, while others transform their entire office space. If your business has customer facing foot traffic, consider getting a few estimates for hanging lights, displays and installations. If your business caters to children, you may consider hiring actors to play Santa and Mrs. Clause, which must be accounted for in your budget.

If you will be offering specials or discounts during the holiday season, allocate a marketing budget to advertise those deals. Whether you will run online ads, send out in-home mailers or give out coupons, you must have the funds to spend on marketing to alert your customers of your plans.

 

Plan for a Holiday Party

Most business owners put on a holiday party during the season, but you must decide how elaborate it will be and who will be included in your guest list. Some business owners choose to host small holiday parties for their employees, while others hold large events with VIP clients, employees and their families.

Even a small holiday party can cause a financial strain if not properly planned for. Since most employers typically give out bonuses and annual raises during this time, it may be difficult to commit to another large expense simultaneously, which is why it is essential to start planning now.

Investing in a larger event can provide you with an opportunity to network with business associates, partners and important clients all in one place. You can take this time to announce important company milestones and plans for the following year. Large company parties may require significant preparation and a large investment, so it may be wise to get estimates from professional event planners beforehand.

 

Prepare for a Slow or Busy Season

A busy or slow season can be a determinant of whether you are open or closed for the holidays; if you anticipate a slow time, consider closing your doors for a few days rather than paying operating costs. If the holidays are your busiest and most profitable time, create a holiday schedule in advance so that your employees know when they are scheduled to work. Remember that you have to pay full-time employees overtime for working on holidays, such as Christmas.

To be able to handle the holiday rush, you may need to hire additional staff as well as have the time to train them. Make sure that all your employees are aware of any holiday specials you are going to introduce, such as special merchandise, a holiday menu, discounts or sales.
The holidays can be a financially stressful time for many business owners, but finances don’t need to add to those stresses. Consider what a small business loan from IOU Financial could do to help your business’ cash flow. Contact us today to find out how we can approve you for up to $150,000 in under 24 hours.

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Sell Mobile: 5 Steps to Take Your Storefront Business Online

Running a storefront business is not the only way to reach your customers. With many customers choosing to shop online, expanding your sales channels to the internet, by way of website or other selling platforms can be a great way to boost revenue. For some business, knowing where to start is half the battle. In this post we will review the 5 steps you can take to get your storefront business online and making sales in no time! Lets get started.

 

  1. Get a website

In order to have an online business presence you will need an online platform to get your product out there. Consider starting a website to sell your items, market your products, and create a one stop online shop. For some businesses, the idea of starting a website is daunting. Starting out by selling on eBay, Amazon, or other platforms may be a simpler way to ease into the market. Another option is launching a simple e-commerce site featuring shopping cart, easy check out, and simple designs on platforms such as Shopify, Squarespace, Weebly, or Wix to name a few.

 

  1. Identify online price-points

Selling in store and online are vary different things. When selling online you have to factor in shipping costs, potential return costs, and packaging to send out orders. Start by identifying your price points, margins, profits, and possible losses and determine what the revenue would be if you sold an item in store versus online. Depending on your product you may be able to cut out excess costs by finding a distributor to ship your product or a facility to hold your product for quick shipping.

 

  1. Prepare Mock Ups

People need to know what your product looks like! Online shoppers first buy with their eyes. Start by taking some great images of your product and begin categorizing what it is you want to sell. Prepare a good variety of product mock-ups that you can use on social media sites, your website, Google Shopping, or other selling platforms.  Highlight the best features when showing customers what they will get when they make an order from your store.

 

  1. Start a web based campaign to sell

Unless your business has a long standing website already, getting found on the Internet may be tough when first starting out. That is where online marketing tools come in. Start a web based campaign to get the word out. Share on your social media accounts, create a Bing Business and Google Business page, and search for other listings where your customers may be shopping. You need to let the Internet know you are here!

 

  1. Build a contact list

You have customers coming in the doors so why not turn those into online shoppers? Start by collecting sign ups for every customer who comes in by offering discounts in exchange for their email address and contact information. You can then turn this list into your next email marketing campaign with new online store features, offers, upcoming sales, and discounts for ordering their next product online. Better yet, upgrade your point of sale technology to collect email addresses upon purchase, then you can send targeted messages based on what your customers purchased in store. All of this helps turn the on foot customer into a customer you can access any time of day!

 

Moving a store to an online platform may seem complicated or too tricky. The upside to working through a plan for preparing an online store can generate more sales and future growth. By implementing 5 strategies to moving a storefront into the online selling world, the task can be accomplished with less stress than going at it blindly. Calculate how much your business could generate in additional revenue through this new stream, and get the funds to make it happen! IOU Financial is able to offer your small business working capital, up to $150,000 in as little as 24 hours, so all you have to focus on is your products! Start working to expand to the internet and see what your store has “in store” for your customers.

IOU Financial Partners With RestaurantLink Providing Restaurants Nationwide Quick Access to Capital

IOU Financial Offers RestaurantLink Customers Alternative Funding

Montreal, QC, Sept. 12, 2016 – IOU Financial (TSX-V: IOU), a leading online lender (IOUFinancial.com) to small businesses in the United States and Canada, is pleased to announce its strategic partnership with RestaurantLink (RestaurantLink.com).

Since 1995, RestaurantLink has led the foodservice industry in the USA, with procurement and management solutions. Thousands of independent and multi-unit operators count on the experience, strength and team at RestaurantLink to support their business. Now, by partnering with IOU Financial, RestaurantLink customers have access to fast, reliable financing, whether it is working capital or expansion related.

“We understand Restaurant’s capital needs as restaurants represent nearly 1 out of 10 of clients”, says Christophe Choquart, VP of Business Development and Strategic Partnerships. “This partnership leverages IOU Financial and RestaurantLink shared values in delivering best-in-class productivity and funding tools to the food and beverage industry.”

“This strategic partnership sums up what IOU Financial is about; providing competitive and responsible funding to help fuel the growth of small business,” says Phil Marleau, CEO.

Such strategic partnerships are a key pillar to the IOU Financial growth strategy, connecting with niche suppliers to offer small businesses a unique one-stop-shop experience. IOU Financial connects with key ecosystem players facilitating small business owners’ access to fast and responsible funding.

 

About IOU Financial Inc.

Endorsed by Kevin O’Leary of ABC’s Shark Tank, IOU Financial provides small businesses throughout the U.S. access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, the IOU Financial advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to $150,000 to qualified applicants within a few business days, with affordable charges favourable to cash-flow management. It’s speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.com.

 

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:

Philippe Marleau

Chief Executive Officer

(514) 789-0694 ext. 225

 

Christophe Choquart

VP – Business Development and Strategic Partnerships

(678) 264-8584

IOU Financial is Expanding Its Fast, Easy Loans to Canada

The demand for business lending in Canada is red hot, according to official statistics from the Canadian government. The Biannual Survey of Suppliers of Business Financing, last updated for the second half of 2014, shows business lenders disbursed 9.6 percent more money compared to the first half of 2014. That reflects the highest growth rate since 2011 and continues several years of consecutive increases.

Figure 1 Value of Credit Outstanding and Disbursed to All Business (CA$ billions).

Figure 1 Value of Credit Outstanding and Disbursed to All Business (CA$ billions).

The figure clearly indicates the need for significantly greater lending resources in Canada, which is why IOU Financial, one of America’s fastest growing commercial lenders, has launched its Canadian business loan product. With this lending program, Canadian small businesses – both English speaking and French – are able to borrow money in as little as one business day.

Canadian small businesses will appreciate the many advantages we offer to small- and medium-sized enterprises:

  • Quick Application: If you are accustomed to the mountain of paperwork banks collect from prospective borrowers, you’ll be astonished at how quickly you can apply to IOU Financial. It takes 10 minutes or less, and you can get a pre-approval right away.
  • Convenient Repayments: Unlike many conventional lenders that hit you with a huge monthly payment, IOU Financial collects daily fixed payments directly from your bank account. This greatly reduces the impact on your working capital.
  • No Upfront Costs: There are no upfront costs or hidden fees when you deal with IOU Financial. The application process is completely free and no-obligation.
  • No Prepayment Penalties: You can repay your balance at any time without penalty. We charge simple interest on our loans, which means you pay interest only on the principal you owe, not on accrued interest.
  • Affordable Rates: Our loan rates start as low as 6 percent. Our rates are half of what you would pay for a cash advance.
  • Loan Renewals: You can renew your IOU Financial loan after you’ve repaid 40 percent of the principal amount.

The Power of “Yes”

The biggest difference between IOU Financial Canada and ordinary banks is that we do everything possible to get you funded quickly, whatever your credit history or score. You see, we look at the whole picture when you apply for loan, including your company’s equity and cash flow. Many of our customers in the U.S. come to us after being turned down by a conventional bank. We are proud of the fact that we approve 85 percent of applications, based on the overall health of their business.

Our clients rave about our services. Voodoo Vapor Inc. told us, “We received our funding from IOU within days and it enables us to put newer product on our shelves more frequently. This gives us more reasons to engage with our target market on social media, attract new customers, and build relationships with loyal customers.” You can read the full case study here.

Our staff is ready to assist you with any questions you have! Canadian merchants and brokers are invited to call 844-750-5468 for more information on how the IOU Financial small business loan product could impact their business.

IOU FINANCIAL OFFERS SMALL BUSINESS LOANS IN CANADA

MONTRÉAL, Québec, September 7, 2016 – IOU Financial Inc. (TSX Venture Exchange: IOU) (“IOU or the “Company”) a leading online lender (IOUFinancial.com) to small businesses in the United States is pleased to announce its entrance into Canada.

“We are very excited to have the opportunity to serve Canada and provide access to capital not otherwise offered by traditional banks,” stated CEO Phil Marleau.  “IOU’s unique approach will revolutionize small business lending in Canada.  Our focus, in combination with our proprietary credit score technology, will provide Canadian businesses immediate access to capital they need to grow.”

“Since 2009, we originated over US$365 Million loans in the USA . We are looking to fuel the growth of small businesses nationwide and are positioned to become the small business lender of choice in Canada,” added Marleau.

Nearly 1 in 3 small businesses with less than 20 employees seek capital each year in Canada, reports Statistics Canada.  “These merchants are consistent with our target,” mentions Robert Gloer, President and COO.  “Our typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees, and e-commerce companies.  The types of business that form the back-bone of the economy across both Canada and the United States.  They want quick access to capital to be able to begin their growth curves sooner and maximize their ability to seize opportunities.”

IOU Financial will enter the Canadian market making loans of up to $100,000 to qualified applicants as fast as 24-48 hours. IOU Financial’s speed and transparency make it a trusted alternative to banks. To learn more or apply for a loan, visit: IOUFinancial.ca or call 1-844-760-5468.

 

About IOU Financial Inc.

In addition to the details above, IOU Financial provides small business loans throughout the U.S. and Canada with affordable charges favourable to cash-flow management.  It makes loans of up to $150,000 in the United States.  It is headquartered in Montreal, Quebec, with its operations based in Atlanta, GA.  To learn more visit: IOUFinancial.com.

 

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:

Philippe Marleau                              David Kennedy

Chief Executive Officer                   Chief Financial Officer

(514) 789-0694 ext. 225                  (514) 789-0694 ext. 278