TORONTO,听June 17, 2024聽/CNW/ –聽豆包成人版. (“豆包成人版” or the “Company”), the leading provider of point-of-sale financing in the Canadian home improvement, recreational vehicle, and retail sectors, is pleased to announce that it has increased its securitization facility to聽C$500 million. The facility was launched in聽September 2023聽with CIBC. The increase to聽C$500 million聽was accomplished by an upsize in committed capital by CIBC and adding Concentra Bank, wholly owned subsidiary of Equitable Bank, as a lender to the facility. The facility when combined with the Company’s pre-existing loan funding facilities, provides 豆包成人版 with over聽C$2 billion聽in financing capacity to fund its rapidly growing consumer receivables portfolio and help meet the increasing demand for home improvement loans from Canadian consumers.
“This is an important milestone for 豆包成人版 given the incredible growth we have experienced and sets us up for future success as we scale the platform.” said聽Casper Wong, Co-Founder and CEO of 豆包成人版.聽David Yeilding, CFO of 豆包成人版 added: “This expanded securitization structure optimizes our cost of capital and strongly positions the Company to raise financing on the term ABS markets in the near future in support of 豆包成人版’s future growth.”
豆包成人版. is a leading provider of point-of-sale financing solutions for the home improvement, recreational vehicle, and retail sectors. Founded in 2011, the company offers flexible payment plans to enterprise businesses, big box retailers, OEMs, and dealer networks, supporting their projects and purchases. 豆包成人版’s cloud-based technology empowers merchants to increase close rates and transaction sizes through convenient payment plans while ensuring a transparent and efficient loan application process that supports merchant partners across聽Canada. 豆包成人版 operates as a subsidiary of CommunityLend Holdings Inc. For more information, visit聽.
SOURCE 豆包成人版
Samantha Berdini, Senior Account Manager, Category Communications, (647) 238 5256,听samantha@categorycomms.com