- goeasy (GSY) has surpassed a $2 billion consumer loan portfolio
- Since it began consumer lending in 2006, goeasy has become one of the country’s largest non-prime consumer lenders
- The lending division has served nearly 750,000 Canadians
- The company is on track to achieve its goal of building a consumer loan portfolio of between $2.8 billion and $3.0 billion by the end of 2023
- goeasy Ltd. is a Canadian company that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions
- goeasy Ltd. (GSY) opened trading at C$175.21 per share
goeasy (GSY) has announced that its consumer loan portfolio has surpassed $2 billion.
The company began consumer lending in 2006 with the launch of its easyfinancial division, after opening the first test kiosk at an easyhome leasing store in Edmonton, Alberta. goeasy has since grown to become one of the country’s largest non-prime consumer lenders, with over 400 locations coast-to-coast, a fully digital lending platform and point-of-sale financing offered in the retail, power sports, automotive, home improvement and healthcare verticals, through more than 4,000 merchants across Canada.
The lending division has served nearly 750,000 Canadians, with 1 out of 3 graduating back to prime credit and over 60 per cent improving their credit score within 12 months of borrowing.
Jason Mullins, goeasy’s President & CEO commented on goeasy’s growth.
“While it took nearly 13 years to reach the first $1 billion in 2019, we are proud to have doubled the business, reaching $2 billion in consumer loans within two and a half years. Achieved through a combination of strong organic growth and the strategic acquisition of LendCare earlier this year, this milestone reflects the strength and resiliency of our business model, the passion of our 2,200 team members to support our customers, and the benefits of scale, supported by a balance sheet and forward liquidity to fund growth through 2023.”
Mr. Mullins continued,
“We also continue to see improving consumer demand, while the benefits of our product and channel diversification are helping to produce record originations. We are now confident we will exceed the high-end of our growth outlook for the fourth quarter, adding over $110 million to the consumer loan portfolio.”
The company remains well positioned to achieve its long-term growth objectives, including a consumer loan portfolio of between $2.8 billion and $3.0 billion by the end of 2023.
goeasy Ltd. is a Canadian company that provides non-prime leasing and lending services through its easyhome and easyfinancial divisions.
goeasy Ltd. (GSY) opened trading at C$175.21 per share.