© FLAGSHIP CREDIT ACCEPTANCE, LLC
Additional States Added to Indirect Lending Program
Flagship has been rapidly growing to expand its non-prime lending model. Over the last year, the company has expanded its indirect lending licensing into 48 states and is currently originating loans from nearly 3,000 dealerships in 31 states.
For information about becoming a Flagship participating dealer, please contact 1-800-707-0114.
Flagship announced the issuance of its first asset-backed securitization of $109 million.
The securitization will increase Flagship’s liquidity position and will allow the Company to further grow its auto finance business. As part of the securitization, Notes were issued in four tranches and were assigned ratings by Standard & Poor’s Ratings Services and Kroll Bond Rating Agency.
Flagship Increased Lending Facility
Flagship has expanded its existing warehouse facility with Wells Fargo Bank from $100 to $175MM.
This increased warehouse capacity represents an additional committed source of liquidity to fund the Company’s auto finance consumer lending activities.