| busdmk | Date: Saturday, 2013-08-24, 10:43 PM | Message # 1 |
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| Leedom income Services Announces Asset Sale to Spartan budgetary
california, Fla. (august 19, 2011) The Leedom workforce, In a move <a href=http://www.bagmostpopular.com>michael kors black friday sale 2013</a> to further enhance the requirements and resources available to its nationwide dealer network, Has announced an asset sale between Leedom lending Services (LFS) And American Credit status LLC's Spartan Financial Partners (Spartan income) section.
LFS completed the asset sale of all carrying out assets to Spartan Financial in June. LFS has served as the nation's leading assetbacked capital providers to the buy herepay here industry since 2004 and will remain a distinct entity under the Leedom Group umbrella of companies serving the domestic buy herepay here and special finance industries. Spartan Financial will continue to expand its nationwide footprint in the buy herepay here space, Having acquired a substantial amount of business from LFS.
The transaction can lead to greater access to capital resources to both the existing LFS clients and for the Leedom dealer network. Leedom will continue to work with Spartan Financial to develop financing options for buy herepay here dealers.
"this chance presented itself at a key juncture when growth in the buy herepay here marketplace is occurring at a time when access to <a href=http://www.shockingfootwear.com>black friday sale</a> capital has been limited at best, Said bob Leedom, CEO on Leedom Group. "Spartan Financial's robust resources in the assetbacked receivables market will vastly add to a strong, Though limited marketplace of funding sources and others who truly understand the buy herepay here enterprize model. in the last seven years, We loaned over $2 billion in buy herepay here recievables. I am confident Spartan will be a significant capital provider over in the future based on their strong resource base,
Spartan Financial is <a href=http://www.bagmadeyoucrazy.com>black friday online sales</a> a division of american Credit Acceptance, LLC (ACA). ACA is a leading purchaser and servicer of subprime automobile retail installment contracts originated by independent and franchised dealers throughout the american. Spartan Financial leverages the subprime auto expertise provided by its affiliation with ACA to provide assetbacked lines of credit and bulk acquisition programs tailored to meet the distinct and underserved financing needs of buy here pay here dealers and indirect subprime auto lenders.
ding VanGeison, ceo of Spartan Financial, stated that "We are very excited about the means to provide the needed capital to the LFS client base. also, We greatly anticipate working with the Leedom Group as they are uniquely positioned as a leading servicer provider to the buy herepay here industry. Spartan Financial remains committed to the buy herepay here industry and we continue to seek new opportunity to deploy capital to meet dealers' needs,
About Leedom community
The Leedom Group is an amount of companies serving the auto dealer community. craigs list 3,500 dealers using its services its products are recognized through the entire industry. From the premier Twenty Group program for used car dealers to payment accomplishment solutions the group offers products dealers find best in class. The Leedom Group also hosts the upcoming 17th Annual National Buy HerePay <a href=http://www.blackfridaysalesus.com>black friday online sales</a> Here convention in Las Vegas.
About Spartan debt Partners
Spartan Financial provides onestop capital solutions to buy herepay here dealers and subprime car finance companies. Spartan Financial's independence, Deep auto finance industry knowledge and structuring expertise enable it to offer unique and competitive debt solutions that support portfolio expansion, products on hand growth or new store openings. Spartan Financial also provides access to capital quickly through its bulk portfolio purchases platform.
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