easyfinancial
easyfinancial is a Canadian non-prime consumer lender offering installment loans, point-of-sale financing, and small business loans to Canadians declined by traditional banks, distributed through 400+ branches plus digital channels and operated as a subsidiary of goeasy Ltd. (TSX: GSY).
- Company typePrivate
- Founded2006
- HeadquartersMississauga, Canada
- Headcount251–500
- GTM typeB2C
- OfferingServices
What easyfinancial does
easyfinancial is a Canadian non-prime consumer lender that provides installment credit to Canadians declined by traditional banks. It operates as a wholly-owned subsidiary of goeasy Ltd. (TSX: GSY) and is headquartered in Mississauga, Ontario. The product portfolio spans unsecured personal loans ($500-$20,000 at 29.99%+ APR, 9-84 month terms), secured home equity loans ($15,000-$150,000 at 9.99%+, 72-240 month terms), point-of-sale buy-now-pay-later financing at over 3,000 merchant partners, and small business financing up to $500,000 originated through a partnership with Merchant Growth. Value-added offerings include Loan Protection Plans (insurance coverage underwritten by Assurant for job loss, critical illness, disability, and death), easyAdvantage+ (a membership bundling auto, home, health, and identity-theft benefits), Credit Optimizer (a credit-rebuilding dashboard with personalized plans and fraud alerts), and the goeasy Connect mobile app for account management and pre-approved offers.
The company's underwriting technology is described as data-driven, evaluating full financial profiles beyond credit scores; this approach is credited with enabling 60% of customers to improve their credit scores and 1-in-3 to graduate to prime rates. Distribution is omnichannel: 350-400+ physical branches across Canada, a full-service call center, online application portal, mobile app, and a financial-education platform (goeasy Academy). Funding is delivered same-day via Interac e-Transfer after a 10-minute approval process. The company holds brokerage licenses in Ontario, British Columbia, and Nova Scotia and Home Equity Compensation Act (HCC) registrations across multiple additional provinces.
Revenue is generated primarily through interest income on the installment loan portfolio (subscription/recurring monthly amortization), supplemented by transaction fees from point-of-sale financing, insurance commissions from Loan Protection Plans, and attach-revenue from value-added products. Customer concentration is structurally low given a 991K-customer mass-retail base with unit-level pricing. Strategic positioning centers on serving a captive non-prime segment while building credit-rebuilding trajectories that eventually graduate borrowers to lower-cost credit, reducing lifetime default risk and supporting repeat originations.
easyfinancial firmographics
Firmographics- Name
- easyfinancial
- Legal name
- easyfinancial Services
- Website
- https://easyfinancial.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- easyfinancial is a Canadian non-prime consumer lender offering installment loans, point-of-sale financing, and small business loans to Canadians declined by traditional banks, distributed through 400+ branches plus digital channels and operated as a subsidiary of goeasy Ltd. (TSX: GSY).
- Ownership category
- akta.pro rank
easyfinancial industry classification
Industry- Product category
- Non-Prime Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (52231)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
- akta.pro secondary industries
- Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH), Private Credit / Direct Lending (FSAAAHAG), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where easyfinancial is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
easyfinancial business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Installment Loan Interest: Interest income from personal loans ($500-$20,000 at 29.99%+), home equity loans ($15,000-$150,000 at 9.99%+), and small business loans ($5,000-$500,000). Primary revenue stream from loan repayment interest.
- Loan Protection Plans: Optional insurance product providing coverage for job loss, critical illness, total disability, and death. Underwritten by American Bankers Insurance Company of Florida (Assurant). Over 80% of claims approved.
- Loan Protection Plans Claims Processing: Claims processing services where payments are sent to easyfinancial and applied directly to loans. Claims reviewed by Assurant.
- Point-of-Sale Financing: Buy-now-pay-later financing at over 3,000 merchant partners across Canada. Customers spread purchases into easy monthly payments at checkout.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Loans: $500 - $20,000, rates from 29.99% |
| Subscription | Monthly | Home Equity Loans: $15,000 - $150,000, rates from 9.99% |
| Subscription | Monthly | Small Business Financing: $5,000 - $500,000 |
| Transaction based/ take rate | Monthly | Point-of-Sale Financing |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
easyfinancial product offering
Product offeringCore offering
easyfinancial is a Canadian non-prime consumer lender offering installment loans to Canadians who have been declined by traditional banks. Core products include unsecured Personal Loans ($500-$20,000 at 29.99%+), secured Home Equity Loans ($15,000-$150,000 at 9.99%+), Point-of-Sale buy-now-pay-later financing at 3,000+ merchants, and Small Business Financing up to $500,000 delivered through a Merchant Growth partnership. The company distributed these loans through 350+ physical branches, online application, call centre, and a mobile app, with 10-minute approval and same-day funding via Interac e-Transfer.
Product overview
easyfinancial is a non-prime lender offering a portfolio of lending products and value-added services for Canadians with limited borrowing options. The core offerings consist of Personal Loans ($500-$20,000), Home Equity Loans ($15,000-$150,000), Point-of-Sale Financing (at 3,000+ merchants), and Small Business Financing (via Merchant Growth partnership up to $500,000). These are supplemented by value-added products including Loan Protection Plans (insurance for job loss, critical illness, disability, and death), easyAdvantage+ (membership with auto, home, health, and identity protection benefits), Credit Optimizer (credit rebuilding tool with personalized plans and monitoring), and the goeasy Connect mobile app for account management. The company also provides free financial education through goeasy Academy with calculators and educational content.
Differentiator
Problem solved
Functional benefit
Brands
- easyAdvantage+: Value-added product providing auto benefits, home benefits, everyday benefits, health & financial wellness, and identity theft protection.
- Credit Optimizer
- Loan Protection Plans
- goeasy Connect
Products and services
- Personal Loans Unsecured installment loans ranging from $500 to $20,000 with rates starting at 29.99% APR and terms from 9 to 84 months. No fees or pre-payment penalties. A 2% rate reduction is available with a co-applicant and a 14-day satisfaction guarantee applies. Designed for non-prime Canadians who have been declined by traditional banks.
- Home Equity Loans Secured loans using home equity as collateral, offering amounts from $15,000 to $150,000 with rates starting at 9.99% APR and terms from 72 to 240 months. Targeted at homeowners seeking larger loan amounts at lower rates than unsecured personal loans.
- Point-of-Sale Financing Buy-now-pay-later financing available at over 3,000 merchant partners across Canada, allowing customers to spread purchases into easy monthly payments at checkout online or in-store. No minimum credit score required.
- Small Business Financing Business financing offered in partnership with Merchant Growth, providing loans from $5,000 to $500,000 for Canadian small businesses with 6+ months in operation and $10K+ monthly revenue. Funds available within 24 hours of complete application. No hidden or administration fees, and no penalty fees for early payoff.
- Loan Protection Plans Optional insurance program that can cover loan payments in the event of job loss, critical illness, total disability, or death. Underwritten by American Bankers Insurance Company of Florida (Assurant). Over 80% of claims are approved with decisions in 48 hours or less.
- easyAdvantage+ Membership program providing auto benefits such as towing, roadside assistance, and locksmith service; home benefits; everyday savings; health and wellness support including virtual healthcare; and identity theft protection.
- Credit Optimizer Data-driven tool providing personalized credit improvement plans, interactive dashboard for credit score tracking, real-time recommendations, target score simulator, credit score history, fraud alerts, and unlimited credit checks.
- goeasy Connect Mobile App Mobile application providing real-time access to account details, payment information, and pre-approved loan offers. Enables customers to manage loans and access credit services on the go.
Quantifiable outcome
- 60% of customers improve their credit score
- +3 more outcomes
Companies that use easyfinancial
Customer profileSegments3 records
Ideal customer profiles2 records
easyfinancial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
easyfinancial partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor, major and core.
- Habitat for Humanity Global VillageminorGlobal community initiative where goeasy employees have traveled to Nicaragua, India, Guatemala, Cambodia, and Bolivia. Built 27 homes and 18 smokeless stoves for 45 housing solutions. Over 125 employees have participated.
- Boys & Girls Clubs of Canada (BGC Canada)major20-year partnership supporting BGC Canada's mission to provide children and youth with safe, supportive spaces. easybites program has completed 100+ kitchen renovations across Canada as a $2.5 million initiative.
- Merchant GrowthcoreStrategic partnership with Merchant Growth to provide small business financing. Merchant Growth handles small business loans from $5,000 to $500,000 with funds available within 24 hours. easyfinancial redirects small business applicants to Merchant Growth for processing.
- LendCarecoreLendCare is a business unit of goeasy that provides point-of-sale financing for powersports and healthcare industries. Features state-of-the-art online financing portal with express online credit decisions and real-time customer verification.
- AssurantcoreInsurance partner providing Loan Protection Plans. Underwritten by American Bankers Insurance Company of Florida (ABIC) and American Bankers Life Assurance Company of Florida (ABLAC), operating as Assurant. Handles claims processing for job loss, critical illness, disability, and death coverage.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
easyfinancial competitors and assessment
Company assessmentDirect peers
- Cash Money: Canadian alternative lender historically focused on payday and short-term installment loans to non-prime borrowers. Overlaps with easyfinancial's small-dollar installment offering, particularly in Ontario and Western Canada.
- goeasy Ltd. (parent): Public parent company (TSX: GSY) whose largest business unit is easyfinancial; also operates easyhome (lease-to-own) and LendCare (POS financing). Most directly comparable consolidated entity for understanding easyfinancial's revenue and book economics.
- OneMain Financial: Largest US non-prime personal installment lender with extensive branch network and similar underwriting approach (full-financial-profile scoring beyond FICO). Direct strategic comparable for omnichannel non-prime installment lending model.
- Curo Group Holdings: Operated non-prime consumer lending brands (e.g., Speedy Cash, LendDirect) in the US, UK, and Canada. Direct overlap in installment lending to non-prime segments and small-dollar credit products.
- Fairstone Bank of Canada: One of easyfinancial's closest direct competitors in Canadian non-prime personal lending, offering installment loans, home equity loans, and branch-based distribution across Canada. Comparable customer segment, product set, and risk profile.
- World Acceptance Corporation: US-based consumer installment lender serving non-prime borrowers via physical branch network with personal loans and ancillary products. Closest international analog to easyfinancial's branch-based, non-prime installment model.
Broad incumbents
- Enova International: US-listed online lender to non-prime consumers and small businesses (CashNetUSA, NetCredit, Headway Capital). Comparable in non-prime underwriting and small business financing, though primarily digital rather than branch-driven.
- Affirm Holdings: Leading buy-now-pay-later player in North America with merchant-integrated POS financing. Overlaps with easyfinancial's LendCare POS offering and point-of-sale BNPL at 3,000+ Canadian merchants, though Affirm is far broader in merchant footprint and geography.
Emerging players
- PROG Holdings: US-based lease-to-own and fintech lender (Progressive Leasing, Vive Financial) serving non-prime and credit-challenged consumers. Comparable in adjacent non-prime credit access but uses lease-to-own rather than installment loan structure.
Regional players
- Mogo Inc. Canadian digital lender offering personal loans, credit score tracking, and related fintech products to Canadian consumers. Comparable Canadian non-prime segment focus, but primarily digital rather than branch-based distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
easyfinancial social profiles
Digital presenceeasyfinancial financial estimates
Financial estimateRevenue estimate
Valuation estimate
easyfinancial leadership team
Management profileNumber of profiles
easyfinancial subsidiaries and ownership
Company hierarchySubsidiaries1 record
easyfinancial funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
easyfinancial M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about easyfinancial
What does easyfinancial do?
easyfinancial is a Canadian non-prime consumer lender offering installment loans to Canadians who have been declined by traditional banks. Core products include unsecured Personal Loans ($500-$20,000 at 29.99%+), secured Home Equity Loans ($15,000-$150,000 at 9.99%+), Point-of-Sale buy-now-pay-later financing at 3,000+ merchants, and Small Business Financing up to $500,000 delivered through a Merchant Growth partnership. The company distributed these loans through 350+ physical branches, online application, call centre, and a mobile app, with 10-minute approval and same-day funding via Interac e-Transfer.
Is easyfinancial a public or private company?
easyfinancial is a private company. It is classified as corporate owned and is currently operating.
When was easyfinancial founded?
easyfinancial was founded in 2006. It employs 251 to 500 people.
Where is easyfinancial based?
easyfinancial is headquartered in Mississauga, Canada, in the North America region.
How does easyfinancial make money?
Four revenue lines are on record. Installment Loan Interest is the primary driver. The others are loan Protection Plans, loan Protection Plans Claims Processing and point-of-Sale Financing.
Who are easyfinancial's main competitors?
Direct peers on record are Cash Money, goeasy Ltd. (parent), OneMain Financial, Curo Group Holdings, Fairstone Bank of Canada and World Acceptance Corporation. Broad incumbents are Enova International and Affirm Holdings. PROG Holdings is listed as an emerging player. Mogo Inc. is listed as a regional player.
Does easyfinancial have an API?
No public API is recorded for easyfinancial.
What industry is easyfinancial in?
easyfinancial's product category is Non-Prime Consumer Lending. Its primary akta.pro industry code is FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday), with a secondary code of FSAKAAAH, Emergency & Short-Term Installment Personal Loans (Unsecured). Its NAICS code is 5222 and its SIC code is 6141.