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IOUFinancial.com

MONTREAL, May 3, 2017 /CNW/ – IOU FINANCIAL INC. (“IOU” or “the Company”; TSX-V:IOU), a leading online lender to small businesses (IOUFinancial.com), is pleased to announce its strategic partnership with EVO Payments International (EVO), a leading card payment acquirer and payment services provider operating throughout North America and Europe. Through this strategic partnership, IOU’s direct clients will be able to take advantage of EVO’s innovative merchant services solutions, save money, and allocate more capital to growth.

“EVO’s customers will also now be able to bundle their merchant services with fast and reliable non-collateral loans from IOU. These loans can fund working capital requirements or expansion programs,” said Christophe Choquart, IOU’s VP of Strategic Partnerships.

“This strategic partnership emphasizes values shared by both IOU and EVO, namely to help small business owners with best-in-class payment systems and funding tools,” added Choquart.

“Strategic partnerships are an important part of IOU’s organic growth strategy, which is to connect with like-minded service providers to offer our common merchant customers an easy-to-use, cost-efficient, one-stop-shopping experience.  We will continue to connect with key ecosystem players to provide small business owners with access to fast, high-quality, and responsible funding,” said Phil Marleau, IOU’s Chief Executive Officer.

Further details about partnering with IOU can be found at www.ioufinancial.com/partner.

About IOU Financial

IOU Financial Inc. 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, salons, gas stations, auto repair shops, and restaurants.  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$200,000 to qualified U.S. applicants ($100,000 in Canada) 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.

About EVO Payments International

EVO Payments International is a leading payments service provider of merchant acquiring and processing solutions for merchants, financial institutions, Independent Software Vendors (ISVs), Independent Sales Organizations (ISOs), government organizations and multinational corporations located throughout North America and Europe. A principal member of Visa and MasterCard, EVO offers an array of innovative, reliable and secure payments solutions and merchant services, backed by an uncompromising commitment to exceed the expectations of our customers and partners. For more information, please visit www.evopayments.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 further information: For more information, please contact: Philippe Marleau, Chief Executive Officer, +1 (514) 789-0694 ext. 225; Benjamin Yi, Corporate Development & Investor Relations, +1 (647) 295-0654

For more information regarding strategic partnerships with IOU, please contact: Christophe Choquart, Vice President, Strategic Partnerships, +1 (678) 264-8584

Financial Results for the Three and Nine Month Period Ended September 30, 2016

Montreal, Quebec–(Newsfile Corp. – November 29, 2016) – IOU FINANCIAL INC. (TSXV: IOU) (“IOU” or “the Company”), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three and nine month period ended September 30, 2016.

“IOU remains committed to achieving profitable growth by emphasizing credit quality over loan volume and seeking to continuously improve operational efficiencies. To that end, we recently deployed our next generation proprietary IOU Risk Logic Score, part of our continued investment in innovation and technology and at the end of the quarter adopted a plan to reduce operating costs. The close of our $50 million credit facility with Midcap Financial in the second quarter, lowered our funding costs and enhanced our competitive position,” said Mr. Marleau.

“In addition, during the quarter we also announced our entrance into Canada. Since 2009, we have originated roughly US$ 400 million of loans in the USA. We are looking forward to fueling the growth of small businesses across Canada,” added Mr. Marleau.

FINANCIAL HIGHLIGHTS

  • Loan applications rose significantly year over year. As a result of a continuing disciplined strategy aimed at emphasizing the quality of IOU’s loans over gross loan origination, loan volumes decreased during the quarter. Loan originations in the third quarter ended September 30, 2016 were US$30.2 million versus originations of US$45.0 million for the same period last year. For the nine-month period ended September 30, 2016, IOU Financial originated US$87.5 million in loans compared to loan originations of US$110.1 million for the same period last year.
  • As of September 30, 2016, IOU’s total loans under management decreased to $78.6 million as compared to $89.6 million at the end of the third quarter 2015. On September 30, 2016, the principal balance of the loan portfolio grew to $40.9 million compared to $21.1 million at the end of the third quarter of 2015 consistent with the Company’s strategy to retain more loans on its balance sheet. The principal balance of IOU’s servicing portfolio (loans being serviced on behalf of a third-parties) was $37.7 million compared to $68.5 million in 2015.
  • Gross revenue for the quarter ended September 30, 2016 was $5.7 million versus $2.6 million for the quarter ended September 30, 2015, representing a 114% increase as a result of the increase in the loan portfolio. For the nine-month period ended September 30, 2015, gross revenues improved to $12.5 million, in comparison to $8.1 million for the same period in 2015.
  • IOU recorded net revenue for the quarter ended September 30, 2016 of $2.6 million versus $1.5 million for the quarter ended September 30, 2015. The increase in net revenue for the quarter was due to an increase in the loan portfolio. For the nine-month period ended September 30, 2016 IOU Financial recorded net revenue of $6.1 million versus $5.3 million for the same period in 2015, an increase of 14.9%.
  • Interest expense during the quarter ended September 30, 2016 increased to $0.9 million, up from $0.4 million over the previous year. The increase is attributable to an increase in borrowings under the credit facility. Interest expense for the nine-month period increased to $2.2 million, up from $1.2 million for the same period in 2015.
  • Provision for loan losses (net of recoveries) increased to $2.2 million, up from $0.7 million, for the quarter ended September 30, 2016. This increase is attributable to an increase in the size of the loan portfolio and a build in the allowance for loan losses for loans originated in prior periods. IOU Financial has since adjusted its originating levels and shifted its loan originations towards higher quality loans. This shift is expected to contribute to improved credit performance. In addition, the Company has implemented certain process changes to improve its servicing and collections. For the nine-month period, provision for loan losses (net of recoveries) increased to $4.2 million, up from $1.7 million, over the previous year.
  • Operating expenses (excluding non-recurring costs) were $2.8 million during the third quarter of 2016 versus $2.6 million for the quarter ended September 30, 2015. During the quarter, the Company adopted a plan to reduce operating expenses. These cost-reduction efforts, once fully implemented are expected to lower operating expenses to $2.0 million to $2.2 million during the fourth quarter on a normalized basis. For the nine-month period ended September 30, 2016 IOU Financial recorded operating expenses (excluding non-recurring costs) of $8.8 million versus $7.2 million for the same period in 2015.
  • IOU closed on the third quarter 2016 with a net loss of $350,033, or $0.01 per common share, compared to a net loss of $2,118,655 or $0.03 per common share during the same period of 2015. For the nine-month period ended September 30, 2016, IOU Financial had a net loss of $3,138,259 or $0.05 per common share (2015: $3,029,949 or $0.05 per common share).
  • IOU closed its third quarter 2016 with an adjusted net loss of $131,364, which excludes certain non-cash and non-recurring items, compared to an adjusted loss of $344,340 in the third quarter of 2015. For the nine-month period ended September 30, 2016, IOU Financial had an adjusted loss of $1,740,979 compared to an adjusted loss of $1,209,489 for the same period in 2015.

IOU’s financial statements and management discussion & analysis for the quarter ended September 30, 2016 have been filed on SEDAR and are available at www.sedar.com.

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 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
David Kennedy
Chief Financial Officer
(514) 789-0694 ext. 278

IOU Financial announces the completion of the second and final tranche of its private placement for total gross proceeds of approximately $1.1 million

MONTRÉAL, Nov. 8, 2016 /CNW Telbec/ – IOU Financial Inc. (“IOU Financial” or the “Company“) (TSX-V: IOU) is pleased to announce that it closed on November 7, 2016 the second tranche of its previously announced private placement of common shares (the “Common Shares“) for total gross proceeds of approximately $1.1 million. The Common Shares were offered to investors at a price of $0.27 per Common Share. The second tranche, when combined with the previously announced first tranche of the private placement, raised total gross proceeds of approximately $2.3 million. Insiders of IOU Financial (or entities related to, or controlled by, them), being Philippe Marleau, CEO and director, Serguei Kouzmine, director, and Jason Cawley, director, each participated in the second tranche of the private placement and subscribed a total of 2,033,333 Common Shares for total gross proceeds of approximately $549,000. In connection with the private placement, the Company paid to Palos Management Inc. (“Palos“), a related party to the Company, a cash commission equal to 6% of the proceeds raised from subscribers introduced to the Company by Palos, for a total aggregate cash commission payment of $40,812.

The issuance of securities to such persons and the payment of a cash commission to Palos may be considered related party transactions within the meaning of Regulation 61-101 respecting protection of minority security holders in special transactions. However, the private placement is exempt from the valuation and minority approval requirements provided under such regulation since the fair market value of the private placement to related parties is less than 25 per cent of the market capitalization of IOU Financial. The board of directors of IOU Financial has approved the private placement. Messrs. Marleau, Kouzmine and Cawley declared their interest prior to the approval by the board of directors of IOU Financial and abstained from voting thereon.

A material change report in respect of this related party transaction has been filed by the Company but could not be filed earlier than 21 days prior to the closing of the private placement due to the fact that the private placement was still subject to regulatory approval and the terms of the participation of certain of the non-related parties and the related parties in the private placement were not confirmed.

This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any securities of IOU Financial offered in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares will be offered on a private placement basis in Canada and only to “accredited investors”, as such term is defined under applicable Canadian securities laws.

THE SECURITIES WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE “1933 ACT“) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

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 approval, 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 Financial 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.

IOU Financial announces the completion of the first tranche of its private placement for total gross proceeds of approximately $1.2 million

MONTRÉAL, Oct. 13, 2016 – IOU Financial Inc. (“IOU Financial” or the “Company”) (TSXV: IOU) is pleased to announce that it closed on the date hereof the first tranche of its previously announced private placement of common shares (the “Common Shares”) for total gross proceeds of approximately $1.2 million. The Common Shares were offered to investors at a price of $0.27 per Common Share.

Insiders of IOU Financial (or entities related to, or controlled by, them), being Philippe Marleau, CEO and director, Serguei Kouzmine, director, David John Kennedy, CFO, Yves Roy, director, and Charles Marleau, each participated in the private placement and subscribed a total of 2,944,444 Common Shares for total gross proceeds of approximately $795,000.

The issuance of securities to such persons may be considered a related party transaction within the meaning of Regulation 61-101 respecting protection of minority securityholders in special transactions. However, the private placement is exempt from the valuation and minority approval requirements provided under such regulation since the fair market value of the private placement to related parties is less than 25 per cent of the market capitalization of IOU Financial. The board of directors of IOU Financial has approved the private placement. Messrs. Marleau, Kouzmine and Roy declared their interest prior to the approval by the board of directors of IOU Financial and abstained from voting thereon.

A material change report in respect of this related party transaction will be filed by the Company but could not be filed earlier than 21 days prior to the closing of the private placement due to the fact that the private placement was still subject to regulatory approval and the terms of the participation of certain of the non-related parties and the related parties in the private placement were not confirmed.

This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any securities of IOU Financial offered in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares will be offered on a private placement basis in Canada and only to “accredited investors”, as such term is defined under applicable Canadian securities laws.

THE SECURITIES WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

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 approval, 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 Financial 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.

IOU Financial Announces Private Placement of Up To $2.2 Million of Equity

IOU Financial Inc. intends to complete a non-brokered private placement of up to 8,148,148 common shares of the company for gross proceeds of up to $2.2-million. The shares will be offered at a price of 27 cents per share (representing the 21-day value-weighted average price of the shares on the TSX Venture Exchange as of Sept. 30, 2016), on a prospectus-exempt basis, in the provinces of British Columbia, Alberta, Ontario and Quebec.

The company expects that insiders of the company, including Philippe Marleau, Serguei Kouzmine, David John Kennedy, Yves Roy and Jason Cawley (or entities related to, or controlled by, them), each of which is a director and/or officer of the company, will participate in the private placement, for approximately up to 60 per cent of the $2.2-million private placement.

The net proceeds of the private placement will be used primarily by IOU Financial to finance small-business loans in the company’s target markets (the United States and Canada) and for general corporate purposes. The private placement is subject to regulatory approval, including the approval of the TSX-V.

The private placement may be considered a related party transaction within the meaning of Regulation 61-101 respecting protection of minority securityholders in special transactions. However, the private placement is exempt from the valuation and minority approval requirements provided under such regulation since the fair market value of the private placement to related parties is less than 25 per cent of the market capitalization of IOU Financial. The board of directors of IOU Financial has approved the private placement. Messrs. Cawley, Marleau, Kouzmine and Roy declared their interest prior to the approval by the board of directors of IOU Financial and abstained from voting thereon.

About IOU Financial

IOU Financial provides small businesses throughout the United States and Canada access to the capital they need to seize growth opportunities quickly. It makes loans of up to $150,000 (U.S.) to qualified U.S. applicants ($100,000 in Canada) within a few business days, with affordable charges favourable to cash flow management.

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

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

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

 

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 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