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BizCap Secures $25MM Revolving Line of Credit for Auto Finance Solutions

May 03, 2022, 07:20 AM
Filed Under: Automotive
Related: BizCap, Chuck Doyle

BizCap successfully structured and secured $25 million in financing for Auto Finance Solutions (AFS), a leading financing source for independent used car dealerships to purchase wholesale inventory throughout the United States. This new financing will enable AFS to refinance existing debt, as well as to fund its strategic growth plans which include new market expansion and increasing the size of its loan portfolio.
“We’re so thankful and impressed by what the team at BizCap was able to accomplish for AFS throughout this transaction,” said Ehab Abuwarda, business development director of AFS. “We knew this debt financing would require an experienced and creative team to achieve the outcome we were looking for, and BizCap was absolutely up to the challenge and delivered exactly what they said they would. Our company can now move forward with our aggressive growth and expansion plans,” he added.  

AFS offers a floor plan financing model that provides auto dealers with more buying power enabling them the ability to increase their inventory, expand their profits, and maximize their cash flow.

“The whole management team at AFS was outstanding to work with on this financing arrangement,” said Chuck Doyle, president & CEO of BizCap. “We knew early on that their business model and growth potential would make this an exciting opportunity for our team to dig into, and we’re so proud to have led the process to yield a very successful outcome for AFS.”

BizCap also recently announced several successful financing arrangements for its clients including $8.7 million for 55th Crossing and $60 million for AvAir.  

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