MONTREAL, Feb. 12, 2014 /CNW Telbec/ - IOU Financial Inc. ("IOU") (CNSX:
IOU), an online lender to small businesses, announced today that Accord
Financial Inc. (TSX: ACD) has exercised its option to extend IOU's
current credit facility by an additional one-year term, being up to
June 14, 2015, by providing IOU an increase in such credit facility
from $10.0 million to $15.0 million.
About IOU Financial
IOU Financial, via its U.S. subsidiary, IOU Central, provides small
businesses throughout the U.S. access to the capital they need to seize
growth opportunities quickly. Typical customers include medical and
dental practices, grocery and retail stores, restaurant and hotel
franchisees and e-commerce companies. In a unique approach to lending,
IOU Central's 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 $100,000 to
qualified applicants within a few business days, with affordable
charges favorable to cash-flow management. IOU Central's speed and
transparency make it a trusted alternative to banks. To learn more
visit: www.ioucentral.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release are forward-looking
and are subject to numerous risks and uncertainties, known and unknown.
For information identifying known risks and uncertainties, relating to
liquidity risks, risks inherent in growing a new business, dependence
on third-party service providers, credit risks, competition, regulatory
risk, and assumptions that could cause the company's actual results to
differ from current expectations, please refer to the section "Risks
and Uncertainties" of IOU's most recent Management's Discussion and
Analysis ("MD&A"), which may be consulted at www.sedar.com. IOU
cautions that the foregoing list of factors is not exhaustive. The
forward-looking statements presented in the MD&A reflect IOU's
expectations as at the date of the MD&A. IOU Financial does not
undertake any obligation to update publicly or to revise any such
forward-looking statements, unless required by applicable legislation
or regulation.
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither
approved nor disapproved of the contents of this press release.
SOURCE IOU FINANCIAL INC.
Philippe Marleau
Chief Executive Officer
(514) 789-0694 ext. 225
Mayco Quiroz
Chief Financial Officer
(514) 789-0694 ext. 298
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