Up to $105 million in combined loan purchase and warehouse capacity provided to help 蘑菇TV下载 continue to grow its consumer financing program
蘑菇TV下载, a point-of-sale consumer financing platform, has completed a successful increase of its renewable purchase facility with VersaBank, formerly Pacific & Western Bank of Canada聽(PWB), increasing its total lending capacity from聽$70 million听迟辞听$100 million.
“The increased capacity of our lending facility with VersaBank is a vote of confidence in our ability to originate and manage high quality assets for our financial institution partners,” said Casper Wong, COO and co-founder, 蘑菇TV下载. “This lending program lays the foundation for the next iteration of our pricing and credit strategy, which will launch in early 2016.”
蘑菇TV下载’s free-to-use platform enables small and medium-sized businesses to offer consumers affordable monthly payment options for larger purchases. By expanding its 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 in big-ticket sales.
Point-of-sale financing represents a multi-billion dollar market in聽Canada聽and the U.S. annually. The industry has traditionally centered on big box retailers and large vehicle dealers and manufacturers. 蘑菇TV下载 changes this dynamic by enabling smaller merchants to offer innovative and compelling consumer financing from any web-enabled device.
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