The company delivers on its commitment to product innovation with the largest and longest loan product to date.
ATLANTE, August 1, 2022 /CNW/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today announced the launch of its new Premier PLUS term loan product for small businesses, with terms of 36 months and loan amounts ranging from $500,000 at US$1.5 million.
“Small business needs are growing and IOU is thrilled to introduce our largest and longest loan to date,” said Robert Gloer, Chairman and CEO. “Be able to access up to $1.5 million within 24 hours of completing an application can be a powerful option for rapidly 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 ratings. Available to qualified new and returning customers, the Premier PLUS Term Loan is designed to provide small business owners with easy access to larger loan amounts and payments spread over 36 monthly installments.
Premier PLUS is the latest installment in IOU’s commitment to providing 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 line with a 24 month term loan and the first in the industry Loan with cash backa unique term loan product for small businesses that encourages and rewards perfect payment history with a cash reward of 3% of the original loan amount.
Product innovation is the 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 Partners can find out if their clients are eligible 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 IOU Financial’s broker network by visiting www.IOUFinancial.com.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital for small businesses through a network of preferred brokers across the United States and Canada. Leveraging its proprietary IOU360 technology platform that connects underwriters, traders and brokers in real time, IOU Financial has become a trusted alternative to banks by disbursing over $1 billion in loans to fund growth small businesses since 2009. IOU has been named one of the 50 Best Workplaces in Fintech for 2022 by American Banker and trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU) and on the US over-the-counter markets under the name IOUFF. To learn more about IOU Financial’s corporate history, financial products, or to join our network of brokers, please visit www.IOUFinancial.com.
Forward-looking statements
Certain information contained 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 will occur in the future. These forward-looking statements can be identified by the use of words and phrases such as “expects”, “believes”, “estimates”, “expects”, “may”, “plans”, “projects”, ” should”, “will”, “intend”, “seek”, “allow”, “create a path for”, “put in a position to” or the negative of it or other variations of it -this. These forward-looking statements are subject to and involve substantial known and unknown risks and uncertainties, some of which are beyond IOU’s control, including, but not limited to, the impact of general economic conditions, industry conditions , dependence on regulatory and shareholder approvals, uncertainty of obtaining additional financing, risks related to the Company’s inability to execute its business plan, dependence on third-party service providers, competition, reliance on key personnel, security and privacy risk, technology development risk, IT disruptions, customer relationship maintenance and litigation risk. No assurance can be given that any of the events anticipated by these statements will occur or, if they occur, what benefit IOU will derive therefrom. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any 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 IOU’s MD&A dated May 18, 2022which is available under the IOU profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE IOU Financial Inc.
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