Consumer Portfolio Secures $25 Million in New Funds
Special finance lender Consumer Portfolio Services Inc. has announced that it has received the additional $15 million in senior secured financing from an affiliate of Levine Leichtman Capital Partners (LLCP) as a follow-up to last week's $10 million financing. The company borrowed a total of $25 million from LLCP.
IRVINE, Calif. — Special finance lender Consumer Portfolio Services Inc. has announced that it has received the additional $15 million in senior secured financing from an affiliate of Levine Leichtman Capital Partners (LLCP) as a follow-up to last week's $10 million financing. The company borrowed a total of $25 million from LLCP. As previously reported, LLCP received, in aggregate, three million shares of common stock and warrants in connection with the transaction.
CPS also announced that it has finalized an amendment to its residual credit facility with Citigroup Financial Products Inc. The company originally entered into the $120 million facility in July 2007, which consisted of a $60 million one-year revolving facility and a $60 million two-year term note. The facility, on which approximately $87 million was outstanding as of June 30, 2008, is secured by eligible residual interests in previously securitized pools of automobile receivables.
Under the amendment, CPS has paid the principal balance down to $70 million of amortizing debt due June 2009. The company also received an option, if certain conditions are met, to extend the maturity for an additional year to June 2010. Approximately $4 million of the principal repayment represented Citi's purchase of a nominal price warrant to purchase 2.5 million shares of common stock.
"The completion of these two transactions is an important milestone for the company," said Charles E. Bradley Jr., president/CEO of CPS. "Our access to liquidity during this challenging capital markets environment validates the quality of the platform that we have developed over the last several years."
More F&I

Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →
Not Just Any Tire Will Do
More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
Read More →