Business Capital Provides $ 20 Million Funding for Sub-Prime Auto

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SAN FRANCISCO, April 27, 2021 (GLOBE NEWSWIRE) – BizCap® (Company capital since 2002) structured and secured a $ 20 million rediscount line of credit for Consumer Mortgage Company (CMC), a provider of risk financing solutions to auto dealerships and consumers located in the greater Houston area of ​​Texas. The new credit facility will allow CMC, a family business in operation since 1974, to continue to grow its portfolio.

“We have spent countless hours and over a year unsuccessfully trying to replace our legacy bank ourselves, leaving us unable to focus 100% of our attention on business activities and arguing with the banks that we dismissed from the outset because of our sector “, said Sean Anderson, President and CEO of CMC. “BizCap took the time to learn our business, led a highly competitive process and found us a new financial partner who exceeded our expectations and provided better access to capital at a lower cost and a better structure than before. .

BizCap® is a leading trade finance and advisory firm with a proven track record in securing personalized, non-dilutive lending solutions for fast-growing and struggling mid-market companies nationwide in need of structures to unique, timely and tailored financing to meet their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national non-profit organization that connects children facing serious and chronic illnesses with local college sports teams, creating lasting connections and life-changing results.

Contact:
Company capital
Chuck doyle
415-989-0970
cdoyle@bizcap.com

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