Rifco Expands Warehouse Facility Despite Slowing Originations

Rifco National Auto Finance renewed and expanded a securitization warehouse facility with Schedule 1 Charter Bank last week. Though Rifco’s utilization limit was bumped up to $40 million from $30 million, the Canadian lender plans to keep originations in the $120-million range, as stated in its 2019 objectives. “Rifco pursues growth within constraints of profitability […]

Lower Originations Prompt Rifco to Shrink Credit Line

Rifco National Auto Finance is shrinking its Wells Fargo-led credit facility to its lowest level, Chief Financial Officer Warren Van Orman told Auto Finance News. “Basically, in our current utilization and the way the cost structure is, it makes more sense to us to be at $65 million than at $100 million,” Van Orman said. […]