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Overview of Everyday People Financial Corp. (EPFCF)
Everyday People Financial Corp. (EPFCF) is a Canadian-based financial services provider dedicated to empowering individuals to rebuild their financial health and achieve long-term stability. Operating across the United Kingdom, Canada, and the United States, the company focuses on two primary business pillars: Revenue Cycle Management (RCM) and Financial Services. With a mission rooted in offering affordable credit products and financial literacy programs, Everyday People aims to transform the way people and organizations manage money.
Business Pillars
Revenue Cycle Management (RCM)
The RCM division is a cornerstone of Everyday People's operations, providing receivables management services to clients in both public and private sectors. Through its subsidiaries, including BPO Collections, General Credit Services, Groupe Solution Collect, and Commercial Collection Services, the company manages debt recovery and financial solutions with a customer-centric approach. Its innovative practices, such as vulnerability and affordability assessments, ensure that payment plans align with customers' financial realities, fostering long-term client relationships. With over 75 years of combined experience, the RCM division leverages advanced technologies to optimize receivables management and deliver seamless, efficient solutions.
Financial Services
Everyday People's Financial Services division operates primarily on a fee-for-service model, generating revenue from credit facilitation, prepaid card programs, and bespoke financial solutions. This pillar enables businesses and government agencies to implement customized payment card and credit access programs. Additionally, the division offers its own consumer-facing financial products, designed to promote responsible credit use and financial wellness. By integrating expertise from its RCM operations, the Financial Services division enhances its offerings with advanced technology and robust customer support.
Key Differentiators
Everyday People distinguishes itself through its commitment to affordability, innovation, and customer-centric solutions:
- Affordable Credit Products: The company provides tailored credit solutions that address the unique needs of its clients, making financial stability accessible to a broader audience.
- Strategic Acquisitions: Recent acquisitions, such as Groupe Solution Collect and Commercial Collection Services, have strengthened its market position and expanded its service offerings.
- Innovative Programs: Initiatives like the Borrowed Down Payment Program exemplify the company's focus on addressing real-world financial challenges with creative solutions.
Market Position and Operations
Headquartered in Edmonton, Alberta, Everyday People has a workforce of approximately 500 employees. Its operations span multiple regions, including the United Kingdom, Canada, and the United States, enabling it to serve a diverse client base. The company's strategic focus on non-leveraged, fee-based growth positions it as a resilient player in the financial services sector. By combining decades of experience with cutting-edge technology, Everyday People continues to deliver value to its stakeholders while maintaining a strong commitment to ethical and sustainable business practices.
Conclusion
Everyday People Financial Corp. represents a unique blend of creativity, entrepreneurship, and customer focus in the financial services industry. By addressing the financial needs of individuals and organizations through its RCM and Financial Services pillars, the company is well-positioned to drive sustainable growth and create lasting value.
Everyday People Financial Corp. (EPFCF) has achieved a significant debt reduction of $14.9 million between July 2024 and February 2025, resulting in annualized interest savings of $1.7 million. The reduction came from two main sources:
1. The EP Homes business line transition led to a $8.3 million debt reduction (73% decrease) through inventory sales, dropping from $11.4M to $3.1M, saving $1.0M in annual interest.
2. Financial Services settlement agreements resulted in a $6.6 million debt reduction with $720,000 in annual interest savings.
The company announced plans to apply for uplisting from TSXV to TSX, aiming to increase visibility and market access. Additionally, the Board approved 570,000 RSUs for officers and management, vesting one year from grant date.
Everyday People Financial Corp. (EPFCF) reports significant expansion in its Revenue Cycle Management (RCM) business, with five existing key client relationships expanded and three new client relationships established since Q2 2024. This growth follows the strategic acquisitions of General Credit Services, Groupe Solution Collect Solu, and Everyday People Financial Solutions.
The expanded client base represents a 70% increase in RCM clients, building on the recent CCS Group Holdings acquisition in November 2024. While specific client details remain confidential, these performance-based relationships are expected to generate substantial revenue growth based on historical performance.
The company also reports the issuance of 120,000 common shares through RSU redemptions, bringing total outstanding shares to 118,654,361.
Everyday People Financial reported strong Q3 2024 financial results with significant growth across key metrics. Revenue increased 89% to $17.8 million for Q3 and 71% to $48.3 million for the nine months ended September 30, 2024. The company turned from a loss to profit, with Q3 net income before tax of $1.6 million, up 451% year-over-year. Adjusted EBITDA grew 172% to $3.1 million in Q3 and 231% to $8.6 million for the nine-month period. The company expects a record profitable finish to 2024 and stronger performance in 2025, supported by the CCS Group Holding acquisition.
Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has completed the acquisition of CCS Group Holdings through its subsidiary BPO Collections The transaction involves a total cash payment of C$4,473,563, with C$4,247,625 paid at closing and C$225,938 held back for 90 days. Additionally, 2,233,565 common shares were issued at C$1.00 per share.
The deal includes a deferred payment of C$711,703 over 2 years and potential performance-based payments of up to C$711,703. The acquisition is funded through equity and debt, including a C$6.0 million bank loan with a 5-year term. CCS, founded in 1988, provides debt collection services in the UK and is regulated by the Financial Conduct Authority.
Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has announced that its subsidiary, BPO Collections , will acquire CCS Group Holdings for approximately C$8.4 million. The acquisition includes a cash payment of C$5.4 million and the issuance of 2,233,564 Everyday People shares. CCS Group, founded in 1988, provides debt collection services in the UK and is regulated by the Financial Conduct Authority.
To fund the acquisition, BPO has secured a C$6.0 million (£3.3 million) loan from a leading UK bank with a 5-year term. The company expects CCS to contribute an annual EBITDA of C$1.1 million to C$1.4 million. The acquisition is set to close on October 29, 2024, subject to regulatory approvals.
Additionally, Everyday People has issued 969,257 common shares from RSU redemptions and appointed Maureen Griffiths as the new Corporate Secretary.
Everyday People Financial Corp. (TSXV: EPFCF) reported strong financial results for Q2 and H1 2024. Revenue increased 63% to $30.6 million in H1 2024, while net income before tax grew 212% to $2.0 million. Adjusted EBITDA surged 277% to $5.5 million. The company also reduced long-term debt by $2.5 million in H1 2024.
Key highlights include:
- Q2 2024 revenue up 46% to $15.8 million
- Q2 2024 Adjusted EBITDA up 142% to $2.4 million
- Q2 2024 net income before taxes up 192% to $0.6 million
The company's three business pillars - Revenue Cycle Management, EP Financial Services, and EP Homes - all contributed to growth. Everyday People anticipates further debt reduction and strong performance for the remainder of 2024.
Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) held its annual and special meeting of shareholders on July 25, 2024. The meeting resulted in the following key outcomes:
1. Election of Directors: Seven director nominees were elected to hold office until the next annual meeting.
2. Appointment of Auditors: RSM Canada LLP was reappointed as the Company's auditor.
3. Approval of Omnibus Share Incentive Plan: The plan, which includes options, restricted share units, performance share units, and deferred share units, was ratified and approved by a majority of disinterested shareholders. It sets a maximum of 10% of issued and outstanding common shares for all awards, with a 5,000,000 share limit for Share Units and DSUs.
Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has appointed Alasdair Skeoch as Chief Operating Officer of its Revenue Cycle Management (RCM) division. The company, a financial services provider, views this appointment as a significant step forward. Graham Rankin, Co-CEO, emphasized Skeoch's extensive experience and track record of success in the industry, stating it will be instrumental in driving accelerated growth of the RCM business line. Gordon Reykdal, Executive Chairman, expressed confidence that Skeoch's leadership and expertise will be invaluable as the company aims to become a global leader in the collection services sector.
Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) has announced a new business strategy for its EP Homes division. The company aims to eliminate its long-term debt of approximately $11.4 million by the end of 2024 and drive growth through a fee-based, non-leveraged platform. The key component of this strategy is the launch of the Borrowed Down Payment Program (BDPP), which allows qualified homebuyers to borrow up to 5% of their new home's value as a down payment loan.
The BDPP is designed to make homeownership more accessible, offering flexible repayment terms, low interest rates, and no hidden fees or early payment penalties. This shift is expected to reduce the company's overall debt, strengthen its balance sheet, and increase current and future earnings. The new model aligns EP Homes with the company's other business pillars and expands its market potential across Canada.
Everyday People Financial Corp. (TSXV: EPF, OTCQB: EPFCF) announced record financial results for Q1 2024.
Revenue surged by 85% to $14.8 million, up from $8.0 million in Q1 2023. Net income before tax increased by 223%, reaching $1.5 million, compared to a net loss before tax of $1.2 million last year.
Adjusted EBITDA skyrocketed by 559% to $3.1 million, a significant rise from $0.5 million in the same period in 2023. The company's success is attributed to the implementation of its strategic growth strategy.
Executive Chairman Gordon Reykdal credited the team for their hard work and dedication in increasing shareholder value. The company remains optimistic for the rest of the year.
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