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Avid Acceptance Scores $50M Credit Facility

Avid Acceptance LLC has finalized an asset-backed warehouse facility with Capital One — its second such facility in four months — adding $50 million of liquidity, Chief Financial Officer Curtis Ash told Auto Finance News. The new Capital One credit facility, combined with a JPMorgan Chase facility established in November 2018, furthers the Salt Lake […]

Avid Acceptance to Double Securitization Volume on Heels of JPMorgan Chase Funding Facility

Avid Acceptance LLC’s new warehouse facility will put the lender on track to double its securitization volume next year, Chief Financial Officer Curtis Ash told Auto Finance News. The $50 million funding facility from JPMorgan Chase “will allow [Avid] a larger securitization in 2019,” Ash said, likely in the third or fourth quarter. The warehouse […]

Utah Lender Issues First Securitization Backed by Bankrupt Borrowers

Salt Lake City-based Avid Acceptance, an auto lender that focuses on loans made to consumers in bankruptcy, issued its inaugural auto securitization backed by $95 million worth of subprime assets, according to Kroll Bond Rating Agency’s presale report. Loans made to consumers in chapter seven or chapter 13 bankruptcy consistently make up more than 90% […]