IOU Financial Closes Another Quarter of Record Loan Originations

  *IOU Financial originated USD$45.0 Million in new loans in 3Q2015

  *Retail and wholesale channels continue to demonstrate strong growth

MONTRÉAL, Oct. 8, 2015 /CNW/ – IOU Financial Inc. , (TSX Venture Exchange:IOU) (“IOU Financial” or the “Company“) a leading online small business lender in the United States, announced today it originated USD$45.0 Million in new loans in the third quarter of 2015, representing a year over year increase of 108%. For the nine month period ending September 30, 2015 loan originations totaled USD$110.1 Million, representing a year over year increase of 66%.

Growth in loan origination was driven by both the Company’s retail distribution channel and wholesale distribution channel. For the nine month period ending September 30, 2015 loans originated through the retail channel, where borrowers are sourced through direct marketing campaigns, increased 271%, year over year, to USD$6.3 Million. For all of 2014, loans originated through this channel totaled USD$3.1 Million. Loans originated through our wholesale channel, where borrowers are sourced via relationships with third-party business loan brokers, increased 61% year over year to USD$103.7 Million.

“We are extremely pleased with the growth acceleration in loan origination we have seen this quarter. Businesses are responding to our online proprietary platform, which allows them to quickly access the necessary working capital to grow their small business,” said Phil Marleau, Chief Executive Officer of IOU Financial. “IOU Financial continues to transform small business lending in North America and is well positioned to deliver sustainable long term shareholder value,” continued Mr. Marleau.