PartnershipJul 9, 2026, 07:07 AM
VersaBank Secures US$300M+ Annual SRP Funding with ECN Capital
AI Summary
VersaBank announced that its US subsidiary, VersaBank USA, has partnered with a wholly owned subsidiary of ECN Capital to utilize its Structured Receivable Program (SRP) in the United States. This new agreement is expected to generate at least US$300 million in additional annual SRP fundings, with potential to exceed US$500 million per year. This is the second SRP collaboration with ECN Capital, further validating VersaBank's program and its expansion into the US market.
Key Highlights
- VersaBank USA entered an agreement with an ECN Capital subsidiary for its US Structured Receivable Program (SRP).
- The ECN Subsidiary is expected to contribute at least US$300 million in additional US SRP fundings annually.
- Initial funding is anticipated in the coming weeks.
- The program is projected to grow beyond US$500 million per year in the future.
- This marks the second SRP program between ECN Capital and VersaBank in the United States.
- VersaBank plans to introduce a real-time funding capability for the SRP, reducing financing costs.
- VersaBank launched its US SRP in August 2024, building on 15 years of success in Canada.
Price Impact
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