MONTREAL, May 3, 2017 /CNW/ - IOU FINANCIAL INC. ("IOU" or "the Company"; TSX-V:IOU), a leading online lender to small businesses (IOUFinancial.com), is pleased to announce its strategic partnership with EVO Payments International (EVO), a leading card payment acquirer and payment services provider operating throughout North America and Europe. Through this strategic partnership, IOU's direct clients will be able to take advantage of EVO's innovative merchant services solutions, save money, and allocate more capital to growth.
"EVO's customers will also now be able to bundle their merchant services with fast and reliable non-collateral loans from IOU. These loans can fund working capital requirements or expansion programs," said Christophe Choquart, IOU's VP of Strategic Partnerships.
"This strategic partnership emphasizes values shared by both IOU and EVO, namely to help small business owners with best-in-class payment systems and funding tools," added Choquart.
"Strategic partnerships are an important part of IOU's organic growth strategy, which is to connect with like-minded service providers to offer our common merchant customers an easy-to-use, cost-efficient, one-stop-shopping experience. We will continue to connect with key ecosystem players to provide small business owners with access to fast, high-quality, and responsible funding," said Phil Marleau, IOU's Chief Executive Officer.
Further details about partnering with IOU can be found at www.ioufinancial.com/partner.
About IOU Financial
IOU Financial Inc. provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, salons, gas stations, auto repair shops, and restaurants. In a unique approach to lending, the IOU Financial advanced, automated application and approval system accurately assesses applicants' financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to US$200,000 to qualified U.S. applicants ($100,000 in Canada) within a few business days, with affordable charges favorable to cash-flow management. Its speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.com.
About EVO Payments International
EVO Payments International is a leading payments service provider of merchant acquiring and processing solutions for merchants, financial institutions, Independent Software Vendors (ISVs), Independent Sales Organizations (ISOs), government organizations and multinational corporations located throughout North America and Europe. A principal member of Visa and MasterCard, EVO offers an array of innovative, reliable and secure payments solutions and merchant services, backed by an uncompromising commitment to exceed the expectations of our customers and partners. For more information, please visit www.evopayments.com.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE IOU Financial Inc.