Canadian Treasurer
 
 

June 6 , 2014

Financeit Announces New Facilities with Pacific & Western Bank of Canada

Toronto , ON – Financeit, which provides a platform that enables businesses to offer consumer financing to their customers from any device, has closed a   renewable purchase facility and a warehouse line facility with Pacific & Western Bank of   Canada.

"Financeit is focused on creating the third  payment option so businesses can offer financing in addition to accepting cash and credit. The purpose of this facility is to enhance our existing lending programs to offer our merchant partners the best experience possible," says   Casper Wong, COO and co-founder, Financeit. "Pacific & Western Bank is a great partner for us as we're aligned on long term growth objectives."

Currently, Financeit has more than 3,500 small-to-medium sized businesses offering consumer financing on big-ticket purchases ranging from   $500 to $100,000. As part of the agreement, Pacific & Western Bank will be allocating up to $40 million  in loan purchase and warehouse capacity for the   Toronto-based group to offer point of sale consumer financing through their established network of Canadian businesses.  

 

 

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