ECN Capital Corp (TSX:ECN) News and Share PriceFinancial
ECN Capital Corp provides business services to various financial institutions across North America, including banks, insurance companies, investment fund managers, etc.
It offers various consumer-based financial solutions under three classes:
• Unsecured consumer loan portfolios: home improvement loans
• Secured consumer loan portfolios: manufactured home loans
• Consumer credit card portfolios: co-branded credit cards and related financial products
Unsecured consumer loan portfolios comprise retail instalments, contracts, and short-term home improvement loans.
The company also provides affinity and co-branded credit card portfolios, transaction advisory and portfolio management services.
ECN Capital Corp operates through three business divisions:
• Service Finance Company
• Triad Financial Services
• The Kessler Group
Founded in 2004, the Service Finance Company LLC provides attractive loan options to different consumers under the home improvement industry. It provides the services through a technology-driven platform and claims to enhance home improvement projects for over 25 partners.
It provides as many as 15 financial institutions with attractive and quality improvement loans, which are primarily prime and super-prime retail instalment contracts.
Triad Financial Services caters to manufactured housing finance of ECN Capital Corp. It offers consumer loans for manufactured home purchases through partnerships with investors, manufacturers, and vendors. It caters to over 40 financial institutions and is licensed in nearly 47 US states.
The Canadian firm provides long-duration manufactured housing loans to consumers, groups, businesses, and organizations under the secured consumer loan portfolio. It provides originating and servicing with a loan size of $70,000 for up to 96 months.
The Kessler Group manages the consumer credit card business. It focuses on managing, structuring, and advising on consumer credit card portfolios for the financial institutions based in the United States. It claims to enhance purchase through long term annuity contracts.
The Toronto-based firm was formed following a split from Element Financial Corporation, resulting in the creation of two separate entities: Element Fleet Management that manages vehicle fleets and ECN Capital Corp.
ECN Capital also provides business services in three distinct business verticals, including rail finance, aviation finance and commercial and vendor finance.
Through several acquisition and business development, the company claims to have transformed from an asset management company to asset-light business services-based entity.
The business services provider firm claims to serve over 100 financial institutions, including large banks, credit unions, pension fund companies, etc.
Royal Bank Plaza 200 Bay Street, North Tower Suite 1625 Toronto, ON M5J 2J1