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Victory Park Capital Provides $100MM Credit Facility to Wheels Financial

March 16, 2016, 08:01 AM
Filed Under: Lender Finance

Victory Park Capital, an investment firm focused on private middle-market debt and equity investments, has provided a $100 million senior secured credit facility to Wheels Financial Group, LLC (d/b/a “LoanMart”), an auto title lender. The credit facility will help support the company’s growth and ability to provide under-banked consumers with affordable auto title loans.
“LoanMart is an established business with a proven track record in the auto title loan industry,” said Jason Brown, partner at VPC. “The management team brings decades of direct experience and has demonstrated a unique ability to evaluate consumer credit risk through economic cycles.”

Based in Encino, California, LoanMart has become the largest auto title lender in the state. The company is led by industry veterans Hugo Dooner, CEO, and Suken Mehta, CFO.

“Victory Park is a leader in the structured finance lending space,” added Dooner. “We look forward to working with an experienced partner to support the continued expansion of our business.”

Founded in 2002, LoanMart is a leading provider of non-traditional lending services for customers who may otherwise be unable to borrow money from traditional sources such as banks. The company provides loans directly to consumers as well as through a large network of business partners. LoanMart is the largest auto title lender in California and offers a diverse portfolio of financial products, including auto equity loans, personal loans and small business loans.

Victory Park Capital Advisors, LLC (“VPC”) is an investment firm with a focus on alternative credit and a commitment to delivering attractive risk-adjusted returns and capital preservation for its clients. VPC provides privately negotiated debt and equity capital solutions to small and middle market companies across a wide range of industries.

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