Aaron Rents opened its first Canadian franchised store in Kitchener, Ontario in November 2003

photo rtoonline left to right: Jim Thrash, Aaron's Franchise Development, Ken Butler, president Aaron's Sales and Lease Ownership division, and Aaron's franchisee John Raines of Raines Investment Group Inc. pose with the Dream Machine at the recent APRO tradeshow in Las Vegas, Nevada.

Aaron Rents (RNT) today announced a new franchise loan facility with financing from Royal Bank of Canada, Canada's largest bank as measured by assets. This facility will provide inventory financing to the Company's growing number of Canadian franchisees.

"We are excited with the prospects of our expanding Aaron's Sales & Lease Ownership franchise program in Canada," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "This facility will provide inventory financing essential to the growth of our existing and future franchised stores."

Aaron Rents opened its first Canadian franchised store in Kitchener, Ontario in November 2003 and since then has opened stores in Pickering, Cambridge, and Hamilton, Ontario as well as Halifax, Nova Scotia. The Company has area development agreements with franchise operators for an additional 13 stores to be opened over the next several years.