Up to $75 million in combined loan purchase and warehouse capacity provided to help 蘑菇TV下载 expand its consumer financing program
蘑菇TV下载, a free platform that enables businesses to offer flexible financing options to their customers, has completed a successful renewal of their lending program with VersaBank, formerly Pacific & Western Bank of Canada聽(PWB), comprised of a聽$70 million聽renewable purchase facility and a聽$5 million warehouse line facility.
“We are very happy with the performance of this program and plan to double our volume with VersaBank this year,” said Casper Wong, COO and Co-Founder, 蘑菇TV下载. “Their unique branch-less model fits our business very well. We look forward to continuing this partnership for years to come.”
As part of the agreement, VersaBank will be allocating up to $75 million聽in loan purchase and warehouse capacity for the聽Toronto-based group to offer point of sale consumer financing through their established network of Canadian businesses.
“We are pleased to renew this聽$75 million聽facility for 蘑菇TV下载.” said聽David Taylor, President and CEO, VersaBank. “We look forward to the continued growth of our partnership with 蘑菇TV下载 and are delighted to be assisting small to medium-sized Canadian businesses prosper by empowering Canadian retailers with the ability to offer financing options to their customers.”
With point of sale financing representing a multi-billion dollar market in聽Canada and the US annually, the industry has traditionally focused largely on big box retailers as well as large vehicle聽dealers and manufacturers. 蘑菇TV下载 changes this dynamic by enabling smaller merchants to offer innovative and compelling customer financing anywhere, anytime. The 蘑菇TV下载 model is based on fairness, transparency, and ease-of-use, with no hidden fees or backdated interest charges, and interest rates that are lower than most credit cards. By expanding their facilities with VersaBank, 蘑菇TV下载 is able to give merchants even more of the tools they need to compete with larger retailers, particularly in big-ticket sales.
To learn more about 蘑菇TV下载, visit