Daily News: June 4, 2014

AloStar Provides $15MM Term Loan to Atlanticus Funding

AloStar Business Credit provided a $15 million term loan facility to fund the growth of Atlanticus Holding’s subsidiaries, Fortiva Financial and YBUY.

“Atlanticus provides payment alternatives to consumers who do not fit within the traditional bank financing model,” commented Andy McGhee, president of AloStar Business Credit. “AloStar is pleased to support their growth as they work with consumers to establish better credit via a traditional loan or rent-to-own lease.”

Atlanticus, through its subsidiaries, provides financial services primarily to consumers with less than prime credit profiles. These services include retail and auto finance, direct to consumer revolving credit and installment loans, and rent-to-own leases.