goeasy Ltd. Surpasses a $1 Billion Consumer Loan Portfolio
The Company opened its first easyfinancial kiosk in 2006 to fill the gap between traditional banks and high cost payday loans. It has since grown to over 400 combined easyfinancial and easyhome locations across the country, offering a full suite of unsecured and secured personal lending products to the 7 million Canadians with non-prime credit. easyfinancial accelerated its expansion journey through the introduction of its first stand-alone branch in 2011, followed by a fully digital online loan application in 2012 and the launch of point-of-sale financing in 2016. With a centralized credit adjudication system that utilizes custom proprietary scoring models built from data on over
“We are incredibly proud to achieve such a significant milestone on our journey to become the leading non-prime lender in Canada,” said
goeasy continues to fulfill its mission through four strategic imperatives, including expanding its suite of financial products, developing it’s omni-channel distribution model, increasing penetration in key geographic markets and developing a best-in-class experience focused on providing customers a path to improve their credit and graduate to prime borrowing. With 1 in 3 customers graduating to prime credit, and 60% increasing their credit score, within 12 months of borrowing from easyfinancial, the strategy is a win-win for both goeasy and its customers. These customers tend to carry about half the debt level of the average Canadian and have proven to be quite resilient during times of economic stress. The Company has previously provided further detail on its customer segment in a shareholder update issued on
“While eighteen straight years of profitable revenue growth is remarkable, our future remains more exciting than ever,”
goeasy Ltd. offers leasing and lending services in the alternative financial services market and provides everyday Canadians a path to a better tomorrow, today. goeasy Ltd. serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lending business that bridges the gap between traditional financial institutions and costly payday loans. easyfinancial offers a range of unsecured and secured personal instalment loans supported by a strong central credit adjudication process and industry leading risk analytics. easyhome is
goeasy Ltd.’s. common shares are listed for trading 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. For more information, visit www.goeasy.com.
Director, Communications & Public Relations