The easyfinancial story: from idea to growth engine

an idea is born

easyfinancial was launched in 2006 to fill the gap between traditional banks and costly payday lenders, and provides unsecured, open installment loans in amounts from $500 to $15,000 repayable in regular instalments over 9 to 60 months. easyfinancial is built on a foundation of strong leadership with a multitude of experience in the financial sector, and significant investment building out a strong infrastructure with stable and scalable technological platforms.

where we stand

easyfinancial’s loans occupy a critical niche in the marketplace, bridging the gap between traditional financial institutions and costly payday lenders. Traditional financial institutions are unable to effectively offer credit solutions to consumers that are deemed to be a higher credit risk due to the consumer’s financial situation or less-than-perfect credit. Historically, approximately 60% of easyfinancial’s customers have been denied credit by these same traditional financial institutions. These same consumers prefer to avoid the high fees (which could have an interest rate in excess of 500%) and onerous repayment terms imposed on them by payday lenders. easyfinancial’s products appeal to these consumers who are looking for alternatives.

The Company believes that there is significant demand for the products offered by easyfinancial in the Canadian marketplace. Historically, the consumer demand for these loans was satisfied by the consumer-lending arms of several large, international financial institutions. Since 2009, many of the largest participants in this market have either closed their operations or dramatically reduced their size due to changes in banking regulations related to risk adjusted capital reserves, leaving easyfinancial as the only national participant with stated growth aspirations. The Company estimates that the historic Canadian market for unsecured consumer installment loans, consistent with the products offered by easyfinancial, was in excess of $2.0 billion and that this market was serviced by more than 600 retail locations.

the proof: it’s in the numbers

easyfinancial gross consumer loans receivable summary:

easyfinancial has experienced rapid growth since its inception. easyfinancial captures a significant and growing share of a large untapped market opportunity.

the future looks bright

The right building blocks are here: the Company has built a strong and difficult-to-replicate foundation based on profitable businesses, a healthy balance sheet, robust infrastructure, a strength in data analytics and capable people. These foundational elements provide confidence that the Company can deliver on its goals and targets.