Daily News: August 8, 2014

GemCap Funds Revolver for Sub-Prime Auto Note Purchaser

GemCap funded a $500,000 revolver for a start-up company that purchases non-prime auto notes and portfolios.

“This line will allow the company greater purchasing capacity and give the company greater flexibility in implementing its growth strategies and expanding its current operations,” said Jim Thieken, executive vice president at GemCap.

“This is an important segment of our economy and we’re excited to provide financing for this growing Company,” said David Ellis, co-president.