WhyNot Leasing, LLC
has been acquired by Axcess Financial
CNG Holdings, Inc. has made a significant strategic growth investment in WhyNot Leasing, LLC, which operates under the WhyNotLeaseIt brand (“WNLI”). Goldblum Lentz & Co represented WNLI as financial advisor in this transaction.
It WNLI is a fast growing specialty consumer finance company with an innovative technology driven business model. The Company is headquartered in Bedford, NH and conducts business on a national basis. WNLI provides no-credit-check, lease-with-the-option-to-purchase financing to cash and credit challenged consumers through mainstream third-party retail partners located throughout the United States, including an extensive network of independent dealers and a growing number of major regional and national chain furniture, electronics and appliance retailers. What differentiates WNLI is that it does not invest in in-store kiosks and store personnel, but instead relies on “cloud” computing to originate and close lease transactions remotely. WNLI can underwrite and auto decision consumer financing applications in seconds at the point of sale.
CNG, a private holding company, owns various operating subsidiaries, including Axcess Financial, which provide consumer financial services in the U.S. and the U.K. through retail storefronts and the Internet. Their financial products focus on the small-denomination credit and leasing needs of “under- banked” consumers. Headquartered in Cincinnati, Ohio, Axcess Financial/CNG is a respected leader in the financial services industry that empowers consumers and businesses with financial solutions. Measured by store count, CNG is the fourth largest specialty finance company in the U.S. and the second largest such company in the U.K.