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Fairstone signs GSM

 3 February 2020     HGO Staff 

MONTREAL – Fairstone Financial, a specialist in alternative personal financing, has signed on to provide both in-store and online point-of-sale financing to Groupe Solution Meubles (GSM), a network of independent furniture, mattress and appliance retailers operating a total of about 35 stores across Quebec.

“We are proud to partner with Groupe Solution Meubles to deliver simple financing solutions to their membership and customers,” Serges Bériault, Fairstone’s senior vice president of indirect lending said in a statement.

As part of its financing offer, Fairstone is providing GSM members with an automated, mobile and digital financing platform enabling customers to be approved for financing within a few minutes.

These retailers include: Meubles Domon; JC Perreault; Sinray; Meubles Dégelis; Gagnon Frères; Meubles Croteau; Meubles Gérard Poirier; Meubl'en vrac; Setlakwe; Branchaud; and, Jacob.

Groupe Solution Meubles was previously known as Les Marchands P.A.S.

“Fairstone's deep experience in retail financing, the simplicity of their financing experience for customers and their Quebec-headquartered operations made them the right financing partner for our members,” said GSM president Marie-Hélène Domon, whose family owns and operates the three unit Domon Meubles, based in Lachine, Quebec.

Until 2017, when it was acquired by J.C. Flowers & Co. LLC and Värde Partners – a pair of U.S. based investment firms – Fairstone was known as CitiFinancial Canada. It provides similar point-of-sale financing services to Kent Building Supplies and the 90 Canadian members of Carpet One Floor & Home.

Related Story: Fairstone to provide POS financing to Carpet One Floor & Home

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Home Goods and its accompanying newsletter - HGO This Week - covers the furniture, bedding, appliances, consumer electronics, accessories, lamps and lighting and floor coverings product sectors of the big ticket home goods market in Canada. HGO is also a forum for the dissemination of market research and hard-hitting articles on best practices for Canadian retailers.

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