Asset lender GemCap funded a $5 million revolving credit facility for an undisclosed buy-here, pay-here auto dealership. The dealership has experienced steady growth in the past few years and needed a new facility to support its trajectory. “This is an important segment of our economy, and we’re happy to support the continued growth of our client,” said GemCap Co-President David Ellis.
Malibu, Calif.-based GemCap specializes in providing financing for inventory, equipment, and real estate, among other assets. Average loans range from $500,000 to $10 million.