Leading online lender recognized for supporting small businesses through the COVID-19 pandemic and for its strong performance in the recovery.
ATLANTA, Ga., May 4, 2022 /CNW/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today it has been named winner of the Silver Stevie® Award for "Achievement in Finance" at the 20th Annual American Business Awards®.
IOU's award nomination was based on the success of its Pandemic Resilience Plan enabling its teams to instantly transition to a 100% remote workforce, as well as the strong growth the Company has shown since implementing its Post-Pandemic Growth Plan in 2021.
"We are proud to be recognized for the resilience our teams and partners showed during the pandemic and for the strong growth in loan originations we are achieving during the recovery" said Robert Gloer, President and CEO.
The Company's Pandemic Resilience Plan heavily leveraged the agility of the IOU360 technology platform to connect brokers, merchants and IOU team members in real time. It supported a fully remote workforce and allowed IOU to avoid any interruption in service during the pandemic. In 2021 the Company outlined its Post-Pandemic Growth Plan focused on three strategic areas in innovation: technology, products and distribution.
"American companies have thrived in the face of hardship and have adapted to the needs of their workforce," said Stevie Awards President, Maggie Miller. "What makes IOU Financial stand out is their Pandemic Resilience Plan to continue supporting small business owners while adapting their operations to the new conditions during the Pandemic," added one Judge. "Top financial performance during a pandemic is worthy of commendation and the ability of the workforce to quickly transition to hybrid work was a big positive," added another Judge.
The American Business Awards are the U.S.A.'s premier business awards program. More than 3,700 nominations were considered from organizations of all sizes and in virtually every industry, for a wide range of categories including Startup of the Year, Best New Product or Service of the Year, App of the Year, and Achievement in Finance. More than 240 professionals worldwide acted as judges and their average scores determined the winners.
"Ultimately we are inspired by the courage and resilience of American small business owners," concluded Gloer. "Fueling the growth of small business – in challenging times and in good times – is what defines our purpose as a responsible lender."
IOU Financial recently reported its 2021 Financial Results, highlighting record loan originations showing 90.3% year/year growth, a return to profitability on an annual IFRS basis, and updates on its Post-Pandemic Growth Plan.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and Canada. Built on its proprietary IOU360 technology platform that connects underwriters, merchants and brokers in real time, IOU Financial has become a trusted alternative to banks by originating in excess of US$1 billion in loans to fund small business growth since 2009. IOU trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU), and on the US OTC markets as IOUFF. To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.IOUFinancial.com.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE IOU Financial Inc.