EasyPay Finance Adds $50 Million Credit Facility
CARLSBAD, Calif., Feb. 6, 2019 /PRNewswire/ -- EasyPay Finance, the leading national provider of consumer installment financing for automotive services and repairs, announced it added $50 million of additional funding to support its continued growth, develop new financial technology, and give consumers the funding they need.
The new credit facility was provided by credit funds managed by an affiliate of Ares Management Corporation, and has an accordion feature expandable to $100 million, subject to lender consent.
EasyPay prides itself on helping consumers with their automotive service and repair needs, getting them back on the road whether to work, getting their kids to school or other everyday needs. EasyPay's consumer friendly No Money Down policy, and 90-day interest rebate promotion provides the cash they need, at the time they need it, for a maximum cost of $40 when paid back within the promotional period. The Company's consumer ratings on Google and the Better Business Bureau, along with its nominal complaint history, are a reflection of the Company's philosophy of complete transparency and fairness.
Hard working automotive repair merchants appreciate the benefits of the EasyPay program. EasyPay provides instant decisions on finance approvals while the customer is still in the shop. Serving more customers helps more consumers, and also generates more revenue for the auto repair shop. EasyPay is a true win-win for the consumer and shop owner.
"We are excited that our growth will be funded by the most prominent lender in our industry," said Scott Vertrees, CEO of EasyPay Finance. "Our team has executed our vision to grow our small business clients by funding even more of their customers, who increasingly rely on alternative forms of financing."
About EasyPay Finance
Built on 17 years of customer finance experience, EasyPay Finance meets the needs of retailers and auto repair dealers by providing simple and convenient funding options.
EasyPay funds customers from good credit to no credit using an innovative algorithm to determine each customer's best program based on a variety of factors, rather than relying solely on credit scores like other lenders. Over 8,000 locations across the United States have used EasyPay to help their customers finance the purchase of goods and services. EasyPay Finance's end-to-end solution includes online origination, financing for all credit types, and a recognized best-in-class onsite merchant services department. For more information, visit www.EasyPayFinance.com.
Contact: Cary Ladd
Tel.: 760-444-1910
Email: 208944@email4pr.com
Website: https://www.easypayfinance.com/
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SOURCE EasyPay Finance
