in Holiday Lease Originations
BOCA RATON, Fla., Nov. 28, 2018 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (FPAY) (“FlexShopper” or the “Company”), a leading national online lease-to-own (“LTO”) retailer and LTO payment solution provider, today announced record gross lease originations for Black Friday and the four day period from Black Friday through Cyber Monday. Lease originations were as follows:
Black Friday gross lease originations increased from $474,357 to $683,342, or 44.1%, compared to Black Friday last year.
Gross lease originations for the period from Black Friday through Cyber Monday increased from $1.5 million to $2.1 million, or 39.7%, compared to the same holiday period last year.
Brad Bernstein, CEO, stated, “We are excited and pleased to report continued lease origination growth over these key shopping days this holiday season, which we expect will translate into revenues and gross profits in future periods. There are multiple reasons for the increase, including well-executed underwriting and marketing initiatives driving new customer originations as well as our growing base of repeat customers for whom our innovative and unique online offering continues to resonate.”
Brad Bernstein will present at the 11th annual LD Micro Main Event in Bel-Air, California. The Company's presentation will take place on Wednesday, December 5, 2018 from 11:30 AM-12:00 PM Pacific Time. A live webcast of the presentation will be available at http://wsw.com/webcast/ldmicro15/fpay/
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