Macquarie arranges a $120 million asset-based revolving credit facility for Wheels Financial
01 Aug 2013
Macquarie arranged a $120 million asset-based revolving credit facility for Wheels Financial (d.b.a. 1-800LoanMart), the owner of California's largest auto equity lender. The Macquarie facility enabled Wheels to provide secured installment loans to consumers who use the value of their motor vehicle to secure funding. The facility was structured to ensure Wheels could capitalize on its strong origination and servicing capabilities. This arrangement allowed Wheels to operate within a flexible draw structure and fund additional capital to support the continued growth of the loan book and its business.