Loan & DebtApr 9, 2026, 03:12 PM
Consumer Portfolio Services Expands Warehouse Credit Facility to $390 Million, Boosting Funding Capacity for Auto Receivables
AI Summary
Consumer Portfolio Services, Inc. (CPSS) and its subsidiary Page Eleven Funding LLC have amended their revolving credit agreement with Capital One, N.A. and a Class B Lender. The amendment significantly increases the facility's capacity from $167.5 million to a maximum of $390 million, providing substantial additional funding for the acquisition of automobile receivables. This enhanced liquidity is crucial for CPS's core business model, allowing it to expand its portfolio of auto loans and support future growth initiatives. The facility is secured by eligible pledged receivables and extends the funding termination date to October 17, 2027.
Key Highlights
- The revolving credit agreement's capacity was increased from $167.5 million to a maximum of $390 million.
- The facility allows for advances up to 95.5% of the principal amount of eligible pledged automobile receivables.
- The funding termination date for the amended credit agreement is October 17, 2027.
- Loans under the agreement bear interest at a floating rate set as a margin above the secured overnight financing rate.
- The facility is provided by Capital One, N.A. and a Class B Lender, and is secured by automobile receivables held or acquired by CPS.