Consumer Portfolio Services Expands Credit Facility to $508M

Consumer Portfolio Services, Inc. announced the renewal of its two-year revolving credit agreement with Citibank, N.A. The company simultaneously increased the capacity of the facility from $335 million to $508 million, with the increase applying to both Citibank and the subordinate lender. Loans under the renewed agreement will be secured by automobile receivables, allowing CPS to borrow on a revolving basis through July 17, 2028, followed by an option for repayment or a one-year amortization period.