Last week, we announced that we have acquired TD Bank’s indirect home improvement financing assets, in partnership with Concentra. This is an exciting transaction for us and marks our first acquisition since entering the point-of-sale financing industry in 2011.
With this move, we’re pleased to be welcoming 800 new merchant partners to our network, along with a number of former TD relationship managers and operational staff. After a transition period, we will also take over the service of 45,000 consumer loans from TD, as well as any new loans submitted on their platform.
To ensure a seamless transition, our new merchant partners are already able to submit loan applications to Financeit while taking advantage of our customer self-serve option, paperless documentation, mobile-enabled technology and extended credit program.
We are excited to bring an exceptional point-of-sale financing experience to our new home improvement partners and their customers, and as always, we are committed to providing the best of the best to our entire community of merchants, borrowers and employees.
If you haven’t seen it already, check out our fearless leader Michael Garrity speaking with BNN’s Michael Hainsworth about this acquisition and the role we play in Canada’s lending industry.
Onwards and upwards!