Everyday People Financial Inc. Increases Operating Loan Facility to $10M
Edmonton, Alberta--(Newsfile Corp. - November 22, 2021) - Everyday People Financial Inc. ("EP" or the "Company") is pleased to announce today that it has executed an increase in the operating revolving loan facility secured by ATB Financial ("ATB Financial") from $4 million to $10 million.
The additional capital provides the Company with flexibility to further execute on one of the Company's main pillars, the EP Homes Program. EP Homes is a division of EP and offers a unique Bridge to Own™ home purchasing program. It's an alternative path to homeownership which allows those who have strong household income, good credit, but not enough money saved for a down payment, an opportunity to buy a brand new, turnkey home. The program is helpful also to new Canadians or self-employed individuals who need more time to establish a credit score or gain enough history as a self-employed individual.
The Company started its EP Homes Program four years ago purchasing 35 new homes and has experienced exceptional consumer acceptance in the Program and is now well positioned to help Canadians generate wealth through home ownership.
"We are pleased with the access to additional capital. As our Company continues to grow our EP Homes Program, this financing will help us get more everyday people onto the path to homeownership," says EP's CEO and Co-founder Barret Reykdal.
Everyday People Financial Inc. ("EP") is a Canadian based FinTech credit provider comprised of subsidiaries specializing in credit and payment cards, consumer finance, homeownership facilitation, credit education and a collections agency. EP operates an advanced digital lending and banking services platform in partnership with DC Bank, a Schedule 1 Canadian Bank.
EP is headquartered in Edmonton, Alberta and has operations in Canada, the United Kingdom, Latin America and Europe with each subsidiary organized to carry-out operations in their own respective countries. The combined entities result in a vertically integrated finance company poised to serve a broad spectrum of large-scale corporate clients as well as underbanked and under-served consumers across the globe.
For more information on Everyday People Financial Inc., visit www.epfinancial.com and www.ephomes.ca.
For further information:
Everyday People Financial Inc.
Barret Reykdal - Chief Executive Officer
Phone: (780) 905-4444
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104567