News

IOU Financial Inc. Releases Financial Results for the Three-Month Period Ended March 31, 2018

Net earnings on an IFRS basis and adjusted net earnings amounted to $0.8 million in Q1 2018, the second consecutive quarter with positive earnings for the Company. Loan originations increased 11.2% to $24.5 million compared to the same period in 2017. Provision for loan losses decreased 50.6% to $0.9 million in Q1 2018 driven by measures taken to reduce defaults. Opex …

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IOU Financial Inc. Releases Financial Results for the Year Ended December 31, 2017

Reached profitability during the year with positive adjusted net earnings of $0.1 million in Q4. Surpassed the half-billion loan origination mark with loan originations of $91.3 million (US) for the year. Increased interest revenue of 8.1% to $14.4 million for the year ended December 31, 2017 vs 2016. Reduced operating costs (excluding non-recurring costs) by 20.3% to $9.0 million for the year ended 2017. Raised $3.5 …

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IOU Financial Extends Credit Facility with Midcap Financial

MONTRÉAL, Feb. 27, 2018 /CNW Telbec/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today that it has modified and extended its secured credit facility (the “Credit Facility”) with MidCap Financial, (“Midcap”) until December 31, 2020. The amount of the Credit Facility is USD $20 million, with a term portion equal …

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IOU Financial Partners with goEBT to Offer Funding to Network of 25,000 Convenience Store Owners

MONTRÉAL, Jan. 31, 2018 /CNW Telbec/ – IOU FINANCIAL INC. (“IOU” or “the Company”; TSX-V:IOU), a leading online lender to small businesses (IOUFinancial.com), is pleased to announce a strategic partnership with Marietta, GA-based c-store solutions provider goEBT (goEBT.com).  Through this strategic partnership, goEBT’s network of 25,000 convenience store owners nationwide will be able to access IOU’s fast, convenient, non-collateral …

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IOU Provides 2018 Financial Outlook

MONTREAL, Jan. 24, 2018 /CNW/ – IOU FINANCIAL INC. (“IOU” or “the Company”; TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today announced its outlook for fiscal 2018.  All dollar amounts are in Canadian dollars unless specifically referred to otherwise. Outlook for fiscal 2018 IOU remains well placed at the forefront of the fintech revolution that is …

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IOU Financial Surpasses US$500 Million in Loans Originated

MONTRÉAL, Dec. 6, 2017 /CNW Telbec/ – IOU Financial Inc. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announces today that it has facilitated more than US$500 million in financing to thousands of merchants and small businesses across the United States and Canada since launching its lending platform.  “$500 million in originations is a significant milestone that we are …

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IOU Financial Inc. Releases Financial Results for the Three and Nine Month Period Ended September 30, 2017

Gross revenue increased 5.7% to $13.2 million for the nine-month period ended September 30, 2017 compared to the same period in 2016. Opex (excluding non-recurring costs) decreased 19.3% to $2.2 million for the quarter ended September 30, 2017compared to the same period last year. The Company achieved its target of quarterly operating costs of $2.0 million to $2.2 million on a normalized basis. The …

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IOU Financial Ranked Fourth Fastest-Growing Company in Canada

MONTREAL, Sept. 14, 2017 /CNW/ – IOU FINANCIAL INC. (“IOU” or “the Company”; TSX-V:IOU), a leading online lender to small businesses (IOUFinancial.com), announces today that Canadian Business and PROFIT ranks IOU Financial as the fourth-fastest growing company on the 29th annual PROFIT 500, the definitive ranking of Canada’s Fastest-Growing Companies. Published in the October issue of Maclean’s magazine and at CanadianBusiness.com, the PROFIT500 ranks Canadian …

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IOU Financial Partners with Rubicon Global to Fund Recycling Ecosystem

MONTREAL, Sept. 6, 2017 /CNW/ – IOU FINANCIAL INC. (TSX-V:IOU), a leading online lender to small businesses (IOUFinancial.com), is pleased to announce a strategic partnership with Rubicon Global.  IOU joined the RUBICONPro buying program to provide Rubicon’s network of independent haulers with fast, convenient and reliable, non-collateral funding solutions. Where bank loans are not an alternative, an IOU term …

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IOU Financial Inc. Releases Financial Results for the Three and Six Month Period Ended June 30, 2017

Principal balance of loan portfolio increased 20.2% compared to the same period last year to $42.9 million consistent with the Company’s strategy to retain more loans on its balance sheet. Gross revenue increased 27.0% to $8.7 million for the first half of 2017. Opex (excluding non-recurring costs) decreased 18.1% or $0.6 million for the quarter ended June 30, 2017 compared to the same …

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