Tuesday, 5 April 2011

Carfinco Plans To Grow - Even More!

Carfinco Income Fund TSX:CFN.UN
Shares Outstanding: 23.97 million
Units fully diluted: 24.6 million
Coming out of a record month of new loan originations Carfinco has solidified plans to facilitate its continued growth.

Carfinco has been using the banking syndicate of Bank of America, Bank of Montreal and Wells Fargo for many years and the bankers have increased Carfinco's credit $25 million or 24% to $130 million.

New loan originations were over $10 million in March and continued growth seems achievable as the fund plans to introduce additional financing programs to its existing dealer base providing risk based pricing for those buyers with better credit.

Tracy Graf, CEO stated "the addition of these new financing tiers moves us closer to our goal of being a “one stop” non-prime financing source within the Canadian automotive industry.”

Read full news release here......