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Nesturo Launches to Provide Rental Deposit Solutions to Ontarians

TORONTO, July 25, 2023 /CNW/ - The state of the rental market over the last two years has seen rents rise. People are often asked to provide large sums for their rental deposits and first and last in order to secure a new home that they love in an increasingly competitive rental market. Nesturo wants to make changing homes less stressful and more accessible. The company solves the problem of draining your savings account in order to change homes by providing Ontarians with easy access to tailored, low interest rental deposit loans.

Ontario renters will no longer have to give up their savings to their new landlords in the form of rental deposits or first and last month's rent payments. With rent prices skyrocketing, Nesturo is launching at a critical time in the province. "It's our mission to make it easier for Ontarians, and one day all Canadians, to get into their dream rentals in today's tough market," says Angela O'Leary, Executive Chairman, "That means providing them with easy-to-access and stress-free solutions to secure a new rental that they really love."

Nesturo works like buy-now-pay-later solutions like Affirm or Klarna, but for the rental market. Renters can use the Nesturo.com website to apply for a short-term, low-interest rate loan. Nesturo's solutions use their own NestScore™ system for loan approvals, instead of only a credit rating since the company believes credit ratings can be unreliable and unfair. Applications take minutes to complete and are approved within hours. Then, Nesturo pays your new landlord the rental deposit or first and last payment directly, and works with you on a payment plan. In the future, they also plan on providing rental relief for their customers in the form of micro-loans for those months where unexpected things come up.

To celebrate their launch, Nesturo is going to be writing a check of up to $5,000 CAD for first and last month's rent directly to the landlords of two Ontarians during their #NesturoCoversRent contest. You can learn more about the contest – which runs from July 25 to August 25 – by going to www.nesturo.com/contest or following @nesturonow on Instagram and TikTok. To visit the Nesturo website go to www.nesturo.com.

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ABOUT NESTURO:

Nesturo is a Canadian company working to provide rental deposit solutions to Ontario renters in the form of tailored loans that partially or fully cover their deposit or first and last month's rent. The company's mission is to make securing a new home more accessible and stress-free by helping to cover initial move-in costs. Learn more about Nesturo's mission to revolutionize the rental market at www.nesturo.com or on Instagram at www.instagram.com/nesturonow.

SOURCE Nesturo Inc.

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View original content: http://www.newswire.ca/en/releases/archive/July2023/25/c6883.html