Rifco National Auto Finance Corporation has extended its $100 million line of credit with its Wells Fargo-led banking syndicate.

The facility will now be a three-year committed facility with a maturity date of Feb 17, 2019 extended from Nov 2, 2016. The terms and conditions of the renewal are broadly comparable to the current terms.

Rifco has a range of financial covenants on the facility which are all being met. The company continues to have four funding facilities with limits totaling $255 million with remaining funding availability of over $130 million. Management is confident that the company has the funding capacity for the current level of originations as well as substantial growth.

Rifco National Auto Finance provides consumers with financing options on new and used vehicles.