IOU Financial’s latest State of the Small Business Survey also reveals stronger-than-expected performance in 2022, a positive current state and reduced worry about the future.
ATLANTA, January 18, 2023 /PRNewswire/ – IOU FINANCIAL INC. (“IOU” or the “Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), published theirs today January 2023 Survey on the state of small businesses revealing a positive outlook for small businesses in 2023.
Highlights from responses provided by small business owners include:
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64% said their work was better than expected in Q2n.d half of 2022;
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85% rate their current state of business as “positive” or “very positive”;
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88% expect their business performance to improve in 1St half of 2023;
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Concerns about inflation, recession, employment, consumer demand and public health have since eased July 2022;
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61% “definitely” and 27% “maybe” will invest in their business in 1.St half of 2023
“The resilience and optimism of small business owners is a source of inspiration for us,” he said Carl Brabander, EVP Strategy IOU Finance. “IOU Financial is proud to encourage the growth plans of small business owners at a time when so many mixed messages are being promoted in the media.”
Latest IOU Survey on the state of small businesses is based on the answers of 175 small entrepreneurs in december 2022, providing a margin of error of 7% with a confidence level of 95%. The full report in PDF format is available here.
IOU Financial offers term loans up to 1.5 million US dollars over 36 months, as well as the IOU Cash-Back Term Loan that offers a 3% rebate to customers with a perfect repayment history.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides small businesses with quick and easy access to growth capital through a network of preferred brokers across the US and Canada. Built on its proprietary IOU360 technology platform that connects underwriters, dealers and brokers in real-time, IOU Financial has become a trusted alternative to banks by issuing more than US$1 billion in loans to finance the growth of small businesses since 2009. IOU was named one of the 50 Best Places to Work in Fintech for 2022 published by American Banker and trading on the TSX Venture Exchange under the symbol IOU (TSXV: IOU ) and on the US OTC markets as IOUFF. To learn more about IOU Financial’s corporate history, financial products, or to join our brokerage network, visit www.IOUFinancial.com.
Forward-looking statements
Certain information provided in this press release may contain forward-looking statements. Forward-looking statements are statements, other than statements of historical fact, that deal with or discuss activities, events or developments that IOU expects or predicts may occur in the future. These forward-looking statements can be identified by the use of words and expressions such as “anticipates,” “believes,” “estimates,” “expects,” “may,” “plans,” “projects,” “should,” ” will “, “intends”, “seeks”, “allows”, “makes way for”, “puts in position for” or their negative or other variations. These forward-looking statements are subject to and involve significant known and unknown risks and uncertainties, some of which are beyond IOU’s control, including, but not limited to, the impact of general economic conditions, industry conditions, dependence on regulatory and shareholder approvals , uncertainty of obtaining additional financing, risks associated with the Company’s inability to execute its business plan, dependence on third-party service providers, competition, dependence on key personnel, security and confidentiality risk, risk of technological development, IT disruptions, maintenance of customer relations and risk of litigation spore. No assurance can be given that any of the events contemplated by such statements will occur or, if they occur, what benefit IOU will derive from them. Readers are cautioned that the assumptions used in the preparation of such information, although believed to be reasonable at the time of preparation, may prove to be inaccurate and, as such, undue reliance should not be placed on forward-looking statements. IOU undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Additional information about these and other factors can be found beginning on page 20 under the heading “Risks and Uncertainties” in the IOU Management’s Discussion and Analysis of November 18, 2022which is available under the IOU profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the TSX Venture Exchange Policy) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE IOU Financial Inc.