LendCare Announces Renewal + Expansion of Credit Facility


TORONTO,¬†July 29, 2020¬†/CNW/ – 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.”