Daily News: May 15, 2013

Amalgamated Capital Closes Facility with TRAKAmerica

Amalgamated Capital said it has closed on a multi-million dollar revolver facility and treasury management services agreement with TRAKAmerica, a recovery management service. The credit facility will give TRAKAmerica the financing it needs to accommodate rising demand for the data-focused services the firm provides.

“With its strong emphasis on analytic research, TRAKAmerica provides a highly valuable service to many businesses,” said Robert Love, executive vice president and head of Amalgamated Capital. “We are glad to work with this company as it responds to market needs and expands its reach.”

With multi-billions of dollars in portfolio assets under management, TRAKAmerica uses a strategic, data-driven approach to provide recovery management solutions in a highly compliant and controlled process for charged-off consumer accounts receivables. Based in Naples, Florida, the company has more than a decade of experience in the industry and is a trusted partner to many national brands. The firm manages relationships with a national network of independent law firms to ensure timely results based on sound analysis.

“It is important for us to work with a bank that understands our industry and our firm’s growth potential,” said Vincent Iacono, CEO of TRAKAmerica. “Amalgamated offered us a sound and sensible structure that suited our needs and granted us the flexibility to further develop our business.”