BizCap structured and secured $25 million in financing for Auto Finance Solutions (AFS), a financing source for independent used car dealerships to purchase wholesale inventory throughout the United States. This new financing will enable AFS to refinance existing debt and fund its growth plans, which include new market expansion and increasing the size of its loan portfolio.
“We’re so thankful and impressed by what the team at BizCap was able to accomplish for AFS throughout this transaction,” Ehab Abuwarda, business development director of AFS, said. “We knew this debt financing would require an experienced and creative team to achieve the outcome we were looking for, and BizCap was absolutely up to the challenge and delivered exactly what they said they would. Our company can now move forward with our aggressive growth and expansion plans.”
“The whole management team at AFS was outstanding to work with on this financing arrangement,” Chuck Doyle, president and CEO of BizCap, said. “We knew early on that their business model and growth potential would make this an exciting opportunity for our team to dig into, and we’re so proud to have led the process to yield a very successful outcome for AFS.”
