Sale of Company to Mariner Finance
Founded in the early 1980’s and with over 70 branch locations in the southeastern U.S., the business is a leading consumer finance company providing installment loans, credit related insurance products, and ancillary products to individuals with limited access to traditional sources of consumer credit. The Company’s loans are denominated in standardized amounts ranging in size from approximately $800 to $3,600 with twelve (12) to thirty (30) month terms. The installment loans are underwritten based on a review of each customer’s credit profile including the customer’s level of income, employment and residence stability, and credit history. During the last twelve month (LTM) period ending June 30, 2013, the Company originated over 150,000 loans, representing over $325 million in total loan amount. The Company is privately owned and the desired transaction is the sale of the entire Company.