Arlington, TX (PRWEB) February 03, 2012
SFG Finance LLC (http://www.sfgfinance.com), a purchaser of auto paper from BHPH dealers, new car franchise dealers, finance companies, banks and credit unions, today named PassTime USA (http://www.passtimeusa.com), the industry leader in high-tech GPS tracking and Automated Collection Technology solutions as its preferred vendor for its loan purchasing programs.
SFG Finance recently launched a new loyalty program to help dealers thrive in todays competitive environment by utilizing top companies in the industry that are the best at what they do. The program provides a real value-add and we are delighted to have an industry leader such as PassTime USA be associated with our program, said SFG Finance COO Henry Gonzalez.
SFG Finances National Subprime Loan Portfolio Program purchases performing vehicle loans, providing needed capital and allowing dealers to achieve greater liquidity in their business ventures. Additionally, sellers of portfolios will be provided a credit toward the purchase of PassTime devices. We feel by helping a dealer purchase an item they need, and are already using, we add value to their bottom line, Gonzalez stated.
PassTime USA offers GPS tracking and its own Automated Collection Technology (ACT) solutions to its customers in the BHPH and subprime finance industry. Its wide range of products and services, superior 24/7 live customer support, and industry expertise provide customers with a complete package for protecting their assets and managing their portfolios.
“We are very excited about being selected as SFGs preferred vendor for their new program,” said Jake Frank, co-founder of PassTime. “The ability to provide access to a company that specializes in buying BHPH portfolios is another valuable addition to the array of solutions we provide our customers.
SFG Finances recently launched program purchases existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, are held on the balance sheet and serviced internally.
The program is highly efficient with a seven to ten day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since its inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.
Funding for the program is made possible by SFGs parent bank, with the additional advantage of a more stable cost of funds and without the need to securitize. SFG Finance offers complete transparency and up-front pricing based upon its superior analytics. A due diligence team will evaluate all loans in order to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.
About SFG Finance:
SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: http://www.sfgfinance.com or call: 866-590-7734.
Headquartered in Littleton, Colorado, PassTime was founded in 1992; the PassTime Suite of Products is designed to improve customer payment performance and reduce default and repossession risks. In 1997, PassTime created its first Automated Collections Technology product. Over the next several years, a Suite of Products evolved that offer GPS tracking, wireless, and Automated Collection Technology products and services designed to meet the needs of a highly diverse industry of car dealers and special finance companies. PassTime solutions facilitate higher rates of return on financing based upon improved customer payment performance. PassTime prides itself on a 24/7 Customer Care Support Center for partners, lenders, dealerships, and end-user customers. Over the past decade, PassTime has sustained industry leadership with its innovative products and services. For more information about PassTime, please visit http://www.passtimeusa.com or call 877-PASSTIME. Contact Jeff Karg, director of corporate communications at jkarg(at)passtimeusa(dot)com.