easyhome Partners With Leon's Furniture to Offer New Consumer Financing Program
MISSISSAUGA, ONTARIO - (Marketwired - July 28, 2015) - easyhome Ltd. (TSX:EH), ("easyhome" or the "Company"), the Canadian leader in providing goods and financial services to the cash and credit constrained consumer, today announced the launch of a partnership with Leon's Furniture Limited ("Leon's") to provide customers of Leon's that do not qualify for traditional prime credit with a new point-of-sale financing alternative through its easyfinancial division.
With over 300 locations Leon's, through brands such as Leon's Furniture, The Brick and United Furniture Warehouse, is the largest retailer of home furnishings, electronics and appliances across Canada. Customers of Leon's often choose credit products arranged through these retail brands in order to finance their purchases. Customers who do not qualify for those traditional credit products now have another option. Through the use of a new, point-of-sale mobile tablet solution, Leon's will be able to offer those customers an easyfinancial loan to finance their purchase.
"We are excited about this new partnership and the potential sales volume it can provide to both organizations," said David Ingram, easyhome's President and Chief Executive Officer. "This financing program is part of a broader strategy to develop our indirect lending channel, where we can offer our loan products at the point-of-sale in the home furnishing, health care and automotive industries. Our new internally developed mobile tablet solution allows Leon's and other partners to process credit applications right in their store and receive an instant credit decision. By leveraging automated authentication tools, our custom credit models, ID scanning technology and digital documents, we will be able to process loans fully paperless in less than 15 minutes."
"Partnering with easyfinancial will allow us to offer our customers alternative financial options if they do not qualify for traditional credit products," said Dominic Scarangella, Chief Financial Officer at Leon's. "When customers are declined for our branded credit offer, they usually leave the store disappointed. This program is truly a win-win solution for both us and our customers."
The program has been being piloted in several select locations across Canada for the past 9 months and will begin to roll out nationally this month.
easyhome Ltd. is the Canadian leader in providing goods and financial services to the cash and credit constrained consumer. easyhome Ltd. serves its customers through two key operating divisions, easyhome Leasing and easyfinancial. easyhome Leasing is Canada's largest merchandise leasing Company, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyfinancial is the leading provider of consumer loans as an alternative to traditional banks and payday lenders, utilizing its large retail store base and its online transactional capabilities, coupled with strong central credit adjudication and industry leading risk analytics.
easyhome Ltd. is listed on the TSX under the symbol 'EH'. For more information, visit www.easyhome.ca.
President and Chief Executive Officer
Executive Vice President and Chief Financial Officer