Credicor Financial Corp. and Varion Capital Corp. enter into ownership agreement

NORTH VANCOUVER, British Columbia - Sept. 20, 2013 - PRLog -- Credicor Financial Corp. (“Credicor”) and Varion Capital Corp. (“Varion”) have entered into an agreement whereby Varion will become a Credicor company effective immediately.

The agreement and rebranding of Varion as a Credicor company brings a new fully integrated source for equipment finance to the Canadian market. Credicor and its subsidiaries is already a recognized leader in the origination and management of lease contracts.  Adding the ability to internally fund many of these originations improves the quality, speed and flexibility of the terms that Credicor and its subsidiaries may offer to its clients.  Varion in turn will gain immediate access to Credicor’s treasury and back office resources.

James Jang, CEO of Varion, said “I have always believed that it is the balance between originations, credit adjudication and back office efficiency that ensures peak portfolio performance and customer satisfaction. Joining the Credicor group of companies allows Varion to better strike this balance.”

Credicor and Varion will continue to use its proven origination strengths to syndicate and package lease contracts for resale to other independent funders thereby ensuring maximum exposure and market penetration for all of its industry partners.

About Credicor Financial Corp.

Credicor Financial Corp. is a privately held management holding company.  Credicor provides treasury, credit adjudication, contract management, marketing and information technology services to its subsidiary companies.  Credicor’s two primary subsidiaries are Lease Link Canada Corp® and Lease Plus Financial™.  The subsidiaries provide Lease and Financial brokerage services through an extensive dealer network and relationships with underwriters. Credicor is one of Canada’s largest independent small ticket lease originators.

More information about Credicor can be found at www.credicor.com

More information about Credicor’s subsidiaries can be found at www.LeasePlus.ca and www.LeaseLink.ca

About Varion Capital Corp.

Varion Capital is a pioneer in the near prime financing market, providing funding solutions to customers who do not conform to the rigid criteria of traditional lenders, such as the Banks or Credit Unions but their profiles exceed that of subprime lenders.

More information about Varion can be found at www.varion.ca