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 funding solutions.
“IOU Financial will provide goEBT’s network of business owners with the funding they need to finance inventory, update stores, or invest in high-ROI equipment upgrades when banks are not an alternative,” said Robert Gloer, President and COO of IOU.
“Recognizing IOU’s strong track record and strength in retail lending, goEBT approached IOU to offer goEBT’s client base convenient, affordable funding to fuel their clients’ growth,” said Christophe Choquart, IOU’s VP of Business Development & Strategic Partnerships.
Strategic partnerships are a key component in IOU’s organic growth strategy, as they allow for a unique, cost-efficient, one-stop lending experience for clients of both IOU and focused service providers such as goEBT. Further details about partnering with IOU can be found at https://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$300,000 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 goEBT
GoEBT provides flat-rate EBT processing to over 25,000 convenience and small grocery store owners. By establishing partnerships with other businesses, goEBT is helping store owners make their businesses more convenient and profitable. Now, solution offerings like bill pay and access to preferred products are helping even single store owners make their stores an asset to the communities that need them most. To learn more visit: GoEBT.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 regarding this press release or IOU Financial, please contact:
Phil Marleau, Chief Executive Officer, +1 (514) 789-0694, ext. 225, or
Benjamin Yi, Corporate Development & Capital Markets, +1 (647) 295-0654
For more information regarding strategic partnerships with IOU Financial, please contact:
Christophe Choquart, Vice President, Strategic Partnerships, +1 (678) 264-8584, or
Robert Gloer, President & Chief Operating Officer, +1 (678) 809-6251