Business
Solution Financial Establishes Securitization Facility with Sun Life Assurance Company of Canada
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2023) - Solution Financial Inc. (TSX:...
About this update from Solution Financial Inc.
[{"type":"text","content":"Solution Financial Establishes Securitization Facility with Sun Life Assurance Company of CanadaVancouver, British Columbia--(Newsfile Corp. - January 20, 2023) - Solution Financial Inc. (TSX: SFI) (the \"Company\"), a leading provider of luxury automotive and yacht leasing in Canada, is pleased to announce that it has established a securitization facility for up to $35 million with Sun Life Assurance Company of Canada (\"Sun Life\"), the primary life insurance subsidiary of Sun Life Financial Inc., which will be advised by SLC Management. This securitization facility will enable Solution Financial to access the growth capital to expand its market share into Ontario and to further enhance its network of premium luxury automotive dealerships in British Columbia and Alberta. \"We are thrilled to announce this wonderful new financing partnership with Sun Life,\" said Bryan Pang, Chief Executive Officer. \"Solution Financial continues to build out its offering and infrastructure in collaboration with Geminus Acquisitions & Management Inc. (\"Geminus\"). Geminus has been instrumental in supporting the Company's long-term growth initiatives and the facilitation of this new relationship with Sun Life,\" concluded Bryan.Geminus was paid a fee to facilitate the establishment of the credit facility and is a related party that is controlled by a director of the Company.About Solution FinancialSolution Financial was incorporated under the provisions of the Business Corporations Act (British Columbia) in 2004 and specializes in sourcing and leasing luxury and exotic vehicles, yachts, and other high-value assets. Solution works with a select group of automotive and marine dealerships providing specialized lending solutions to clients who are under served by traditional Canadian financial institutions. Typical customers include new immigrants, business owners, and international students. Solution Financial provides a unique leasing experience whereby it partners with its clients to help them navigate the challenges of acquiring, insuring, maintaining, and upgrading vehicles and luxury assets in Canada.About Geminus Geminus is an independent Canadian financial company that facilities consumer and commercial lending solutions across various asset types and credit classes. Headquartered in Calgary, AB, Geminus supports multiple lending platfo...