LendCare Announces Renewal and Expansion of Credit Facility to Support Unprecedented Growth

LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has renewed and expanded one of the company's supplemental credit facilities for $75 million.

"Maintaining a diversified group of strategic funding partners continues to be a focus for the company as we continue to experience unprecedented growth in originations.  The summer is traditionally a busy time for us and 2020 was no exception as we saw originations in the month of June alone at almost $30 million with July expected to be the same." said Ali Metel, CEO, LendCare Capital. "We continue to maintain our singular focus of being Canada's leading full credit spectrum POS lender for all Canadians, in all provinces and territories, for any purchase they may be considering.  2020 is on track to be another record-breaking year for us, and we look to our diversified and scalable funding structure to position us to gain further momentum throughout 2020 and beyond."

About LendCare Capital

LendCare is a Canadian consumer finance and technology company, which enables over 6000 businesses to increase their revenue by providing full credit spectrum financing at the point-of-sale. For over a decade, LendCare has cleared a path to providing fast, reliable and affordable financing options for the Powersports, Auto, Retail, Home Improvement and Health sectors, while processing over $5 billion in loan applications to date. With a dedicated team of finance experts and well-established partnerships with merchants, top dealerships and brokers, LendCare bridges the gap between credit score and customers living their best life.