Attain Finance, a consumer finance company, entered into a new $130 million, two-year senior revolving credit agreement, led by Citizens Bank. The agreement is part of a broader $150 million revolving credit facility, with the remaining $20 million junior portion expected to be completed at a later date.
The new facility will reduce Attain’s cost of capital and provide more favorable credit terms, while also creating incremental capacity to support our 380 branches in the U.S. operating under the Heights Finance brand to further grow the company’s below-36% APR product offering. The additional capacity also enhances Attain’s financial flexibility and reinforces the position of the company to continue expanding within its target markets.
“We are pleased to strengthen our capital structure with this new credit facility, which reflects the continued confidence our lending partners have in our business model and long-term strategy,” Doug Clark, CEO of Attain Finance, said. “The new facility will provide us with lower funding costs, while enabling us to maintain the flexibility we need to continue driving growth in the U.S. and delivering value to our customers and shareholders. We appreciate the addition of Citizens Bank to our group of lending partners, and look forward to a mutually beneficial partnership for years to come.”
