Montreal, Québec (PRWEB) June 19, 2013
IOU Financial Inc. (CNSX: IOU) (“IOU” or the “Company”) announced today that it has recently joined a growing list of Montreal-based companies designated as International Financial Centres (“IFCs”). An IFC is a certified corporation that is entitled to tax benefits by performing qualified international financial transactions out of Montreal, Québec, Canada.
Headquartered in Montreal, IOU Financial is also the parent company of IOU Central, a leading small business lender based in metro Atlanta, Ga. IOU Financial conducts back-office activities for IOU Central.
“We’re achieving substantial tax benefits by becoming an IFC company and basing IOU Central’s back-office operations in Montreal,” said Mayco Quiroz, Chief Financial Officer of IOU Financial. “The IFC Montreal organization also provides us with a one-stop shop, helping us to access a network of partners and service providers that will support us in achieving growth while we create jobs and contribute to the local economy.”
“IOU Financial is a great addition to the Montreal financial community and we’re proud to admit it as a new member in the IFC family,” said Eric Lemieux, Chief Executive Officer of the International Financial Centre Montreal. “IOU Financial can count on the presence of a deep and sophisticated talent pool in a world-class metropolis that offers appealing incentives for financial businesses. We wish them great success and will continue to support them here in Montreal.”
About IOU Financial
IOU Financial, via its U.S. subsidiary, IOU Central, provides small businesses throughout the United States 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 http://www.ioucentral.com.
About IFC Montreal
The International Financial Centre-Montréal is an organization devoted to the development of Montreal as an international financial center. Its mandate is to facilitate the establishment and development in the Greater Montreal territory of businesses specialized in international financial transactions. Its activities include the development and implementation of promotion and start-up strategies among businesses active in international financial markets.
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 http://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.