IOU Originates $32.8M in Loans in Q1

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IOU Financial funded $32.8M in loans in the first quarter of 2019, according to publicly filed financial statements. The company also continued its profitable streak and plans to grow originations by:

  • Identifying, recruiting and partnering with business loan brokers;
  • Forming new strategic partnerships with entities such as banks and small business suppliers and leveraging their relationships with small businesses to add new customers;
  • Expanding its product offering to allow it to serve small businesses whose needs are not met by its current products;
  • Investing in direct marketing and sales; and
  • Continuing its expansion into Canada.

IOU originated $125M in loans in 2018.

Last modified: May 30, 2019

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