EDMONTON, March 10, 2014 /CNW/ - Carfinco Financial Group Inc.
("Carfinco" or the "Company") today announces that the Company has
achieved over $1 billion in loan originations since commencement of
operations in March 1997. The milestone was passed midway through the
month of February, and follows a record year of loan originations in
2013 of $171.6 million.
"We are very proud of achieving this milestone, "stated Tracy Graf, CEO
of Carfinco. "It is a reflection of the dedication and hard work of our
staff and would not have been possible without the strong relationships
Carfinco has with its dealer base, banking partners (led by Bank of
America, N.A.), and other strategic relationships. We are thankful to
all our partners and shareholders that have believed in our strategy
and business model over the past 17 years."
Moving forward, Carfinco is focused on growing its loan portfolio at
approximately 15% per annum through its Canadian and U.S. subsidiaries
and on providing excellent service and products for our dealers and
customers. In addition, Carfinco is actively pursuing potential
acquisitions that we believe will add value to our shareholders and
About Carfinco Financial Group Inc.
Carfinco, through its Canadian and United States subsidiaries
(collectively, "Carfinco"), focuses on providing indirect consumer
vehicle loans to borrowers unable to obtain financing through
traditional lending sources. A network of select independent and
franchise dealerships offer the Subsidiaries payment plans to their
customers who must, along with the vehicle, meet the Subsidiaries
underwriting guidelines. The shares of Carfinco trade on The Toronto
Stock Exchange under the symbol "CFN".
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties
and should not place undue reliance on such forward-looking statements.
SOURCE: Carfinco Financial Group Inc.
For further information:
Mr. Tracy A. Graf
CEO & Director of Carfinco Financial Group Inc.
Web site: www.carfinco.com
The Howard Group Inc.
Web site: www.howardgroupinc.com