It hasn’t taken long for one-year-old CarFinance Capital to expand.
The Irvine, Calif.-based nonprime lender announced today the opening of a new office in Fort Worth, Texas, which will potentially house up to 125 additional employees focused on portfolio management and credit servicing for the Central and Eastern time zones.
The Company has funded more than $100 million of auto loans in its first 10 months of business, and signed up more than 1,500 auto dealers serving nonprime consumers, who now account for one-third of U.S. car buyers.
“Reaching over $100 million of loan fundings in 10 months — coupled with the opening of our new Texas office — represents significant milestones for CarFinance Capital as we continue the national expansion of our lending and referral services to help auto dealers serve the large population of non-prime car-buyers,” said CarFinance Capital president and CEO Jim Landy. “As car sales continue to improve and more consumers come back into the market, dealers need increased access to high quality lending, as well as more efficient ways to reach ready-to-buy customers — while credit-challenged consumers need a better way to get financed. The opening of our Texas office means we are well-positioned to continue to provide the industry’s best services to meet this demand.”
