Fairstone to provide POS financing to Carpet One Floor & Home

MONTREAL – Fairstone Financial, a non-bank provider of lending solutions, has signed a deal to provide point-of-sale (POS) financing for all retail purchases at some 90 Carpet One Floor & Home locations across the country.

As part of its retail POS financing offering, Fairstone is also providing Carpet One Floor & Home with an automated, mobile and digital financing platform enabling customers to be approved for financing in under two minutes.

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.

In a statement, Fairstone said its proprietary solution easily integrates within the existing retail experience, simplifying the customer experience and dramatically reducing time and friction associated with paper-based credit application. This allows retail sales representatives to spend their time focusing on sales and customer service.

“We’re pleased to be working with the Carpet One Floor & Home banner to provide frictionless financing to their customers and support their continued growth in a competitive space,” said Serges Bériault, Fairstone senior vice president of indirect lending.

“Fairstone is providing a convenient and flexible financing solution for our customers and we’re pleased to launch their digital financing platform in all locations across Canada,” added Baxter Freake, vice president of Carpet One Floor & Home.

Carpet One Floor & Home is a co-operative floor covering retailer, with 1,000 independently owned and operated locations in the United States, Canada, Australia, and New Zealand.  It is a division of CCA Global Partners, which also operates the Flooring Canada banner.