MONTRÉAL, Québec, August 19, 2015 – IOU Financial Inc. (TSX Venture Exchange: IOU) (“IOU Financial” or the “Company”) a leading online lender to small businesses in the United States, is pleased to announce today that it intends to open up its offerings to the Canadian marketplace.
IOU Financial’s unique approach to lending will revolutionize small business lending in Canada. Unlike traditional banking institutions, IOU Financial’s innovative, proprietary online technology quickly and efficiently assesses the applicant’s financial realities with an emphasis on day-to-day cash flow, with most loans granted within 24 to 48 hours. To date, IOU Financial has funded over US$225 million in small business loans in the United States.
“As a Canadian company with headquarters in Montreal, we are very excited at the prospect of serving the Canadian market with a transformative and reliable alternative to traditional banks,” stated Phil Marleau, CEO of IOU Financial. “IOU Financial provides small businesses with the working capital they need to quickly seize growth opportunities. We have already started the process of collecting information on potential direct clients in Canada as well as future broker prospects to position ourselves for a successful launch in the Canadian market. We look forward to our official Canadian launch in the months to come,” continued Mr. Marleau.
IOU Financial will be available to the Canadian market at ioufinancial.ca.