The company delivers on its commitment to product innovation with the largest, longest-term loan product to date.
ATLANTA, August 1, 2022 /PRNewswire/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender for small businesses (IOUFinancial.com), today announced the introduction of its new Premier PLUS term loan product for small businesses, with terms of 36 months and loan amounts ranging from US$500,000 a 1.5 million US dollars.
“The needs of small businesses are growing and IOU is excited to introduce our largest, longest-term loan to date,” he said. Robert Gloer, President and CEO. “Be able to access up to 1.5 million US dollars within 24 hours of completing an application can be a powerful option for quickly funding growth strategies.”
IOU’s Premier PLUS Term Loan is available to businesses that have been in business for at least 5 years and rewards those with high credit scores. Available to qualified new and returning customers, the Premier PLUS Term Loan is designed to give small business owners easy access to larger loan amounts and payments spread over 36 monthly installments.
Premier PLUS is the latest installment in IOU’s commitment to offering innovative new term loan products designed to help broker partners meet a growing range of business financing needs. In 2021, the company expanded its product range with a 24-month term loan and the industry, first Cash back loana unique term loan product for small businesses that encourages and rewards perfect payment histories with a cash reward of 3% of the original loan amount.
Product innovation is a cornerstone of the company’s Post-Pandemic Growth Plan, for which it was received a Silver Stevie® at the American Business Awards®.
IOU Broker Network members can find out if their customers qualify for the Premier PLUS Term Loan by contacting their IOU Financial Account Executive. Small business owners can find a broker and independent brokers can apply to join the IOU Financial broker network by visiting www.IOUFinancial.com.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides fast and easy access to growth capital to small businesses through a network of preferred brokers in the US and canada. Based on its proprietary IOU360 technology platform that connects subscribers, traders and brokers in real-time, IOU Financial has become a trusted alternative to banks by originating more than US$1 billion in loans to finance the growth of small companies since 2009. IOU named one of the 50 Best Places to Work in Fintech for 2022 by American Banker and trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU ) and on the US OTC markets as IOUFF. To learn more about IOU Financial’s corporate history, financial products or to join our broker network, visit www.IOUFinancial.com.
Forward-looking statements
Certain information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements, other than statements of historical fact, that address or discuss activities, events or developments that IOU expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of words and phrases such as “anticipates,” “believes,” “estimates,” “expects,” “may,” “plans,” “projects,” “should,” “is “must do”. “, “intends”, “seeks”, “enables”, “creates a path for”, “positions for” or the negative thereof or other variations thereof. These forward-looking statements are subject to and involve substantial known risks and uncertainties and unknowns, some of which are beyond the IOU’s control, including, but not limited to, the impact of general economic conditions, industry conditions, reliance on regulatory and shareholder approvals, the uncertainty of obtaining additional financing, risks related to the company’s inability to execute its business plan, dependence on third party service providers, competition, dependence on key personnel, security and confidentiality risk, technology development risk, IT disruptions, maintenance customer relationships, and the risk of litigation. There can be no assurance that any of the events contemplated by these statements will occur or, if they do occur, what benefit IOU will derive from them. readers are cautioned that the assumptions used in the preparation of this information, even if believed to be reasonable at the time of preparation, may prove to be inaccurate and, therefore, undue reliance should not be placed on the forward-looking statements. IOU undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Additional information regarding these and other factors can be found beginning on page 20 under the heading “Risks and Uncertainties” in the Management’s Discussion and Analysis of the Dated IOU May 18, 2022which is available on IOU’s profile on SEDAR a www.sedar.com.
Neither the TSX Venture Exchange nor its regulation service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE IOU Financial Inc.
[ad_2]
Source link
