Loan & DebtApr 9, 2026, 03:16 PM
Consumer Portfolio Services Increases Warehouse Credit Facility Capacity to $390 Million
AI Summary
Consumer Portfolio Services, Inc. (CPSS) and its subsidiary Page Eleven Funding LLC have amended their revolving credit agreement, significantly increasing the capacity of their warehouse credit facility. The facility, secured by automobile receivables, saw its maximum lending capacity rise from $167.5 million to $390 million. This expansion provides CPSS with enhanced liquidity and greater flexibility to acquire and finance automobile receivables, supporting its core business operations and potential growth initiatives. The agreement, with Capital One, N.A. and a Class B Lender, extends the funding termination date to October 17, 2027.
Key Highlights
- The revolving credit agreement's maximum lending capacity was increased from $167.5 million to $390 million.
- The amended facility allows for advances up to 95.5% of the principal amount of eligible pledged receivables.
- The funding termination date for the facility is set for October 17, 2027.
- The credit facility is secured by automobile receivables that CPS holds or may acquire from dealers.
- Lenders for the facility include Capital One, N.A. and a Class B Lender.