Nicholas Financial, a branch-based subprime automotive lender, entered into a senior secured credit facility with Wells Fargo Bank as agent. The facility provides for a line of credit of up to $175 million.
OnDeck Funding, a subsidiary of OnDeck Capital, amended its existing ABL revolver to increase its lenders’ commitment from $100 million to $150 million. Ares Agent Services served as administrative agent.
Consumer Portfolio Services has entered into a new two-year $100 million revolving credit agreement with Credit Suisse AG and Ares Agent Services.