Equipment Street Partners With IOU Central To Offer Working Capital Loans

PONTE VEDRA BEACH, Fla., May 18, 2014 /PRNewswire-iReach/ -- Equipment Street continues to expand its financing options with the introduction of working capital loans.  This new offering will complement their current financing options of highly flexible equipment leases and loans. After a thorough vetting process, Equipment Street elected to partner with IOU Central, a proven innovator in this lending segment.

IOU Central is known for delivering fast, fair and affordable online business loans.  Loans sizes can range from $5,000 to $100,000 with term options of either a 6 month or 12 month repayment plan.  Their lending philosophy is reflected in a commitment to view each customer as unique.  To achieve this, IOU Central performs a comprehensive assessment of each customer, going beyond a credit score, and evaluating a number of key business factors.  This customer centric approach enables them to offer more financing solutions to more customers. 

An IOU Central loan delivers a less costly fixed rate alternative to merchant cash advances.   There is no fee to apply and repayment plans offer the convenience of automated daily direct withdrawals from the customers' business bank account. Equipment Street members can explore this financing alternative through on line access and receive credit qualification decisions within minutes. Approved businesses can receive their funds often within less than 48 hours.

Robert Gloer, President and COO of IOU Central states, "I am extremely excited to partner with Equipment Street.  I quickly recognized the synergy between our organizations and immediately grasped how the combination of our products and services could be of benefit to our shared clients.  Our partnership with Equipment Street enables them to expand into the working capital loan space, offering more customers enhanced financing flexibility, while helping us expand our market reach at the same time.  We share a vision of offering clients access to needed capital in order to facilitate and transact more business. I look forward to long and mutually beneficial partnership with Equipment Street."

Equipment Street is dedicated to changing the way businesses buy and sell equipment.  Visitors receive support across a broad range of equipment categories including: theft prevention, office technology, food service, telecom, automotive, light industrial among others.  The site offers access to a comprehensive equipment procurement solution that enables business owners to post needs, research sellers, evaluate bids, and select the best products at the best prices.  To facilitate the purchasing process, for companies that are faced with cash flow challenges, Equipment Street Finance offers instant access to capital through a variety of lending solutions. 

*Patent Pending

About Equipment Street:  Equipment Street is headquartered in Ponte Vedra Beach, Florida.  The company is dedicated to delivering the preferred digital equipment marketplace where buyer and sellers of equipment can network and form mutually rewarding business relationships.  Equipment Street also provides a variety of financing options to assist buyers and sellers of equipment obtain the capital they need to meet their equipment goals.  For more information about Equipment Street please visit our website at www.equipmentstreet.com or call 877.956.4858.

About IOU Central:  IOU Central is a leading online lender specialized in helping small businesses with healthy cash flow. 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 small business loans of up to $100,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. Based in metro Atlanta, Georgia, IOU Central is a privately held subsidiary of IOU Financial (TSX-V: IOU), which is headquartered in Montreal, Canada. For more information, visit www.ioucentral.com

Media Contact: Cathy Clinger, Equipment Street, 877.956.4858, cclinger@equipmentstreet.com

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SOURCE Equipment Street



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