goeasy ltd. exceeds a $2 billion consumer loan portfolio

A milestone achieved by serving nearly 750,000 Canadians since 2006

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MISSISSAUGA, Ontario, Dec. 09 2021 (GLOBE NEWSWIRE) — (“goeasy” or the “Company”), one of Canada’s leading non-preferred consumer lenders, today announced that it has surpassed a $2 billion consumer loan portfolio .

The company began lending to consumers in 2006 with the launch of its easyfinancial division, after opening the first trial kiosk at an easyhome rental store in Edmonton, Alberta. goeasy has since become one of the nation’s largest non-preferred consumer lenders, with over 400 locations coast-to-coast, a fully digital lending platform, and point-of-sale financing available commercially. retail, powersports, automotive, home improvement and healthcare, through more than 4,000 merchants across Canada. The Lending Division has proudly served nearly 750,000 Canadians, with 1 in 3 reverting to Prime Credit and over 60% improving their credit score within 12 months of borrowing.

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“While it took nearly 13 years to reach $1 billion in 2019, we are proud to have doubled our business, reaching $2 billion in consumer lending in two and a half years,” said Jason Mullins, president and CEO of goeasy. through a combination of strong organic growth and the strategic acquisition of LendCare earlier this year, this milestone reflects the strength and resilience of our business model, the passion of our 2,200 team members for support our customers, and benefits of scale, supported by a balance sheet and term liquidity to fund growth through 2023,” Mr. Mullins continued, “We also continue to see improving consumer demand, while the benefits of our product and channel diversification are helping to produce record origins. We are now confident that we will exceed the top of our growth outlook for the fourth quarter, adding more than $110 million to the consumer loan portfolio. »

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goeasy continues to pursue a long-term strategy that includes expanding its product line, developing its distribution channels, expanding the geography in which it operates and improving the financial well-being of its customers. , helping them improve their credit score and get back to first. The company remains well positioned to achieve its long-term growth goals, including a consumer loan portfolio of between $2.8 billion and $3.0 billion by the end of 2023.

About goeasy

goeasy Ltd., a Canadian company headquartered in Mississauga, Ontario, provides non-preferred leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by more than 2,200 employees, the Company offers a wide variety of financial products and services, including unsecured and secured installment loans. Customers can transact seamlessly through an omnichannel model that includes an online and mobile platform, more than 400 locations across Canada, and point-of-sale financing offered across retail, food and beverage verticals. motorsports, automotive, home improvement and healthcare, through more than 4,000 merchants across Canada. Throughout the company’s history, it has organically acquired and served more than one million Canadians and originated more than $7.2 billion in loans, with one in three easyfinancial customers switching to credit investment grade and 60% increase in credit rating within 12 months of borrowing.

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Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards, including Waterstone Canada’s Most Admired Corporate Cultures, Glassdoor Top CEO Award, Achievers Top 50 Most Engaged Workplaces in North America, Greater Toronto Top Employers Award, the Digital Finance Institute’s Canada’s Top 50 FinTech companies, ranking on the TSX30 and ranking in the Report on Business ranking of the best growing companies in Canada and has been certified Great Place to Work®. The company is represented by a diverse group of team members from over 75 nationalities who strongly believe in giving back to the communities in which it operates. To date, goeasy has raised and donated over $4.25 million to support its longstanding partnerships with BGC Canada, Habitat for Humanity and many other local charities.

goeasy ltd. the Common Shares are listed on the TSX under the symbol “GSY”. goeasy is rated BB- stable trend by S&P and Ba3 stable trend by Moody’s. Visit www.goeasy.com.

For more information, contact:

Bryan Tritt
Vice President, Communications and Public Relations, goeasy Ltd.
(905) 272-2788

Farhan Ali Khan
Senior Vice President and Director of Business Development, goeasy Ltd.
(905) 272-2788

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