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Flagship Credit Renews and Increases Credit Facility

January 31, 2012

CHADDS FORD, Pa. Flagship Credit Acceptance announced that its controlling shareholder has increased its capital investment to support the company’s growing auto finance platform.

Flagship also announced that it has entered into an agreement with Wells Fargo Bank to renew and increase its commercial credit facility to $175 million, according to the company. The credit facility will help fund the company’s auto finance consumer lending activities and will be utilized to support Flagship’s growth plans.

“By continuing to expand Flagship’s capital base, we are demonstrating our ongoing commitment to increasing the company’s consumer lending activities,” said Michael Ritter, founder and CEO of Flagship. “As we continue to grow, we will build upon our solid underwriting and servicing platforms. We are pleased to have the support of our shareholders and debt providers as we look to assist even more dealers in providing auto finance solutions to their below-prime car buyers.”

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