Riverton, UT, September 16, 2016 – Windset Capital Corporation (“Windset”), a subsidiary of
Chesswood Group Limited (“Chesswood”), announced today that it will discontinue accepting new
loan applications from its brokers and independent sales organization network effective September
“After three years of serving the short-term working capital market and dedicating 100% of
Windset’s resources to the broker/ISO community, we have made the strategic decision to exit the
working capital loan market and focus solely on our growing equipment finance businesses.” said
Barry Shafran, Chesswood’s President and CEO.
“We have made the decision to focus our organization on our growing and more profitable business
activities in the equipment finance market” added Gary Souverein, Windset and Pawnee Leasing
Corporation’s President. “While we have continued to manage Windset profitably, our longer term
outlook on the changing fundamentals of the working capital loan market have made us
uncomfortable with the risk-return profile. We appreciate the many relationships we have made
since 2013 and we will continue to fund all of our partners’ approved applications” said Souverein.
Windset will no longer accept new loan applications effective Monday, September 26, 2016.
Windset will complete and fund all open and valid approvals and will continue to service all of the
loans in its portfolio, for the entire duration of their terms.
About Chesswood Group Limited
Chesswood Group Limited, a public company traded on the Toronto Stock Exchange (TSX:CHW),
operates in the financial services industry with equipment finance businesses in both Canada and
the U.S. To learn more about Chesswood Group, visit www.ChesswoodGroup.com.
Founded in 1982, Pawnee Leasing Corporation is a market-leading national small-ticket equipment
finance business specializing in lending to small and medium sized businesses in all credit profiles
including start-ups, with transactions up to $150,000.
For more information contact:
President & CEO President
Chesswood Group Limited
This press release contains forward-looking statements that involve a number of risks and uncertainties
because they relate to events and depend on circumstances that will occur in the future. Many factors
could cause actual results and developments to differ materially from those expressed or implied by these
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