Corporate Profile

About goeasy Ltd.

goeasy Ltd., is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions. With a wide variety of financial products and services including unsecured and secured instalment loans, goeasy’s aspires to help put Canadians on a path to a better financial future, as they rebuild their credit and graduate to prime lending. Customers can transact seamlessly with easyhome and easyfinancial through an omni-channel model that includes online and mobile, as well as over 400 leasing and lending locations across Canada supported by more than 1,900 employees. Throughout the company’s history, it has served over 1 million Canadians and originated over $3.3 billion in loans, with one in three customers graduating to prime credit and 60% increasing their credit score within 12 months of borrowing. goeasy is the proud recipient of several awards including Waterstone Canada’s Most Admired Corporate Cultures, Achievers Top 50 Most Engaged Workplaces in North America and the Digital Finance Institute’s Canada’s Top 50 FinTech Companies. The company and its employees believe strongly in giving back to the communities in which it operates and has raised over $2.5 million to support its long-standing partnerships with the Boys & Girls Clubs of Canada and Habitat for Humanity.

goeasy Ltd.’s. common shares are listed on the TSX under the trading symbol “GSY” and goeasy’s convertible debentures are traded on the TSX under the trading symbol “GSY-DB”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s.

Operation since 1990 14.4 million shares outstanding
Based in Mississauga, Ontario Market capitalization ~ $763.9 million
over 1,900 employees Quarterly dividend of $0.31
Listed on the Toronto Stock Exchange (TSX: GSY) Analyst coverage provided by 7 firms

Our Award Winning Culture

goeasy is proud of the culture it has built over it’s 29 year history that celebrates success, encourages innovation and is committed to helping our customers graduate to prime credit. With over 1900 employees from coast to coast, our team members are passionate about providing our customers with the highest levels of service as they are stretched to learn and develop in a culture that fosters an engaging and positive work experience. In recent years, we have been the proud recipient of several prestigious workplace awards including Waterstone Canada’s Most Admired Corporate Cultures, Achievers Top 50 Most Engaged Workplaces in North America and the Digital Finance Institute’s Canada’s Top 50 FinTech Companies.




 

Overview of Business Segments

easyfinancial

easyfinancial is the Company’s financial services arm that provides installment loans to non-prime customers who have limited access to traditional bank financing products. easyfinancial’s product offering consists of unsecured and real estate secured installment loans form $500-$35,000 at interest rates starting at 19.99%, with repayment terms of 9 to 60 months for unsecured loans and up to 10 years for secured loans.

Description Financial Snapshot (Year Ended December 31, 2018)
  • Products include unsecured and secured installment loans that range in size from $500 to $35,000 with interest rates starting at 19.99% and repayment terms of 9 to 60 months for unsecured loans and terms of up to 10 years for secured loans.
  • Omni-channel model that enables customers to transact through multiple delivery channels including a National branch network of over 240 locations, online via a digital application platform, through call centers and through an indirect channel that provides loan products to consumers at the point-of-sale of third party merchants.
  • Centralized loan decisioning process that uses leading-edge, data-driven modeling and analytical techniques that include underwriting and credit adjudication policies that have been continuously enhanced by analyzing over $2.9 Billion in origination data.
Revenue $368.3M
Operating Income $141.9M
Store Count 241 (kiosks, stand-alone locations and national loan office)
Gross Consumer Loans $833.8M

easyhome

easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyhome’s programs appeal to a wide variety of consumers who are looking for alternatives to traditional retailers and may not be able to purchase merchandise due to a lack of credit or insufficient cash resources, or may simply want to use the merchandise, with no long-term obligation, before making a purchase decision. In 2017, the Company strengthened its relationships with its easyhome customers by offering them unsecured lending products in almost 100 easyhome leasing locations. This expansion allowed the Company to further increase the distribution footprint of its financial services products and leverage its existing real estate and employee base that understands this customer segment.

Description Financial Snapshot (Year Ended December 31, 2018)
  • Oldest segment of goeasy’s business.
  • Leasing transactions that act as an alternative to the financing offered by traditional retailers.
  • Customers with a lack of credit or insufficient cash funds can lease merchandise without credit checks or down payments and the flexibility to terminate a lease at any time with no cost.
  • Fixed annual interest rate of 29.99%.
  • Starting in 2017, 99 easyhome locations began offering unsecured loans up to $15,000, powered by easyfinancial to expand the company’s points of distribution and leverage its existing real estate investments.
Revenue $137.9M
Operating Income $21.5M
Lease Assets $51.6M
Store Count 165