IOU Financial launches cashback loan
IOU fulfills its promise of innovation with a single term loan which rewards small business owners with a 3% discount
ATLANTA, August 4, 2021 / CNW / – FINANCIÈRE IOU INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online small business lender (IOUFinancial.com), today announced the launch of the IOU Cash Back Loan, a loan product single term for small business that encourages and rewards perfect payment histories with a cash reward of 3% of the original loan amount.
“The IOU Cash Back Loan gives us the opportunity to give something back to new customers who trust us to fund their growth plans,” said Robert gloer, CEO.
Today’s news follows IOU’s first quarter results, released on May 21st, 2021 in which the Company announced its intention to invest in product, distribution and technology innovation as part of its post-pandemic growth plan.
“Small businesses are the engine of economic recovery,” added Gloer, “and we are proud to support their post-pandemic growth plans with new, innovative financing solutions built around their needs.”
The IOU Cash Back Loan was developed as a result of a series of focus groups conducted earlier in the year designed to better understand the financing needs of small business owners. Available only to qualified new customers, the IOU Cash Back Loan is designed to appeal to small business owners who meet specific underwriting requirements and are committed to a perfect repayment history. Merchants who qualify and meet the criteria will be required to claim their reward in writing within 30 days of full repayment of the qualifying loan.
IOU broker partners can find out if their clients will be eligible for the cash back loan by contacting their IOU financial account manager. Traders can find a broker and independent brokers can apply to join the IOU Financial network by visiting www.ioufancial.com.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the United States and Canada. Built on its proprietary IOU360 technology platform that connects underwriters, traders and brokers in real time, IOU Financial has become a trusted alternative to banks by underwriting 898 million US dollars in loans to finance small business growth since 2009. IOU trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU) and on the US markets over the counter as IOUFF. To learn more about the history of IOU Financial, financial products or to join our broker network, please visit www.IOUFinancial.com.
Certain information contained in this press release may contain forward-looking statements. Forward-looking statements are statements, other than statements of historical fact, that deal with or discuss activities, events or developments that IOU expects or anticipates might occur in the future. These forward-looking statements can be identified by the use of words and phrases such as “plans”, “believes”, “believes”, “expects”, “may”, “plans”, “projects”, ” should “,” “,” intends “,” seeks “,” allows “,” creates a path for “,” enables “or the negative of it or other variations of it These forward-looking statements are subject to and involve substantial known and unknown risks and uncertainties, some of which are beyond the control of IOU, including, but not limited to, the impact of general economic conditions, industry conditions, reliance on regulators and shareholders.approvals, completion of final documentation and obtaining regulatory approval for the Offer, uncertainty of obtain additional financing, the risks associated with the inability of the Company to execute its business plan, the dependence this vis-à-vis third-party service providers, competition, dependence on key personnel, security and confidentiality risk, technological development risk, IT disruptions, maintenance of customer relationships and the risk of litigation . No assurance can be given that any of the events anticipated by these statements will occur or, if they do, what benefit IOU will derive from them. Readers are cautioned that the assumptions used in preparing this information, although believed to be reasonable at the time of preparation, may prove to be imprecise and, as such, forward-looking statements should not be relied on unduly. IOU assumes 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 from page 20 under the heading “Risks and Uncertainties” in IOU’s MD&A dated May 20, 2021, which 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.
SOURCE IOU Financial Inc.
For more information: IOU Financial media inquiries: [email protected]