TORONTO, CANADA--(Marketwired - June 29, 2016) - Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX VENTURE:DLS) is pleased to announce that it has surpassed the $100 million finance receivable milestone in June.
"This milestone represents a significant turning point for the Company. The $100 million portfolio has been our internal benchmark representing the scale that drives accretive economics on each additional loan throughout the long term duration of our portfolio," stated Michael Hilmer, CEO of Dealnet. "We are delighted by the progress and market uptake of our products and look forward to continuing our diligent growth while maintaining consistent credit quality."
Dealnet's consumer finance receivables have grown to over $100 million as a result of record origination volumes in the second quarter. The growth has been driven through the addition of dealers including those added through our recently announced OEM relationship. The Company continues to negotiate with multiples OEM's and new dealers to drive near and long term growth.
About Dealnet Capital Corp.
Dealnet is an engagement enabled consumer finance company that is initially focused on home improvement finance solutions including heating ventilation and air conditioning financing and leasing. Dealnet leverages its large scale customer service and engagement technology platform to attract home improvement dealers by providing front and back office services to support dealer operations leading to origination growth.
Forward Looking Statement
This news release contains certain "forward-looking information" within the meaning of applicable securities law including statements regarding the Company, expected growth in finance receivables, expected economies of scale and new dealer and OEM relationships. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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