American Cycle Finance has raised “substantial” funding through private investors after an acquisition of the company was rescinded in August 2017, Managing Director Ben Donnarumma told Powersports Finance.
The capital includes “one large investment from one [entity] who is a major player in the subprime industry,” he said. Because of this, the lender is in a “great financial position.”
American Cycle — formerly known as Ride Today Acceptance LLC — intends to double its portfolio in 2018 through additional funding and credit lines, he said
