News

Line of Credit: More Options Available to Secure Capital from Banks and Specialty Finance Companies than Ever, but Be Prepared

There have not been so many financial services firms offering lines of credit focused in the deep subprime and buy here-pay here marketplace in many years. Though there is increased competition among capital providers, businesses seeking capital today should be prepared to have their operations compared to the best retailers in the industry in order to get the best rates if any capital at all. Read Full Article

Spartanburg Company Increases Growth in Auto Loans

Spartanburg, SOUTH CAROLINA - Published Saturday, May 25, 2013 GoUpstate.com -Over the past six years, one company has quietly grown into one of Spartanburg's largest employers.

American Credit Acceptance, an indirect lender of subprime automotive loans, has 800 associates at four buildings, including the Bell Hill business park, the TD Bank campus off East Main Street and Extended Stay Hotels Inc.'s former headquarters downtown, which now is called One Morgan Square.

In addition, ACA has 118 employees at its subsidiary Auto Finance's facility near Atlanta. And the company is just starting to hit its stride. Read Full Article

Leedom Financial Services Announces Asset Sale to Spartan Financial

SARASOTA, Fla. - The Leedom Group, in a move to further enhance the services and resources available to its nationwide dealer network, has announced an asset sale between Leedom Financial Services (LFS) and American Credit Acceptance LLC's Spartan Financial Partners (Spartan Financial) division. Based in Spartanburg, S.C., Spartan Financial provides capital solutions to buy here-pay here dealers and subprime auto finance companies. Read Full Article