VersaBank Significantly Expands Addressable Market for Structured Receivable Program in the U.S. with Launch of Funding to Small Business Sector
VersaBank expanded its U.S. Structured Receivable Program to fund point-of-sale originators of small business loans and leases, moving beyond the retail consumer sector that accounted for all prior U.S. SRP fundings. Management estimates the move more than doubles the Bank's U.S.
Key figures
- Us srp launched
- August 2024 (retail consumer sector)
- Market opportunity expansion
- more than doubles U.S. SRP addressable market (management estimate)
- Us srp funding target next year
- at least US$3 billion
- Canada small business service since
- 2010
- Real time srp warehouse elimination
- replaces typical 5 to 30+ day receivable warehousing with same-day/within-hours funding
AI analysis
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