(PRWEB) August 16, 2012
Austin, TX: William P. Tedrow, CEO of Excel Finance Company (“Excel”) announced today that Excel successfully closed on an increase of its senior lending facility with Capital One National Bank, which results in a total facility amount of $40 million. This facility increase was secured in connection with Excel’s plans to execute on a series of finance company acquisitions throughout Texas and Louisiana in the coming months.
William Tedrow stated, “We have maintained a long-standing relationship with Capital One for well over 10 years. Capital One is a great organization and we are fortunate to be partnered with them. While the credit markets have fluctuated in recent years from the credit crisis, our relationship with Capital One has remained solid. I would like to personally thank the Capital One Team for their continued support and confidence in the Excel Organization.”
About Excel Finance:
Founded in 1999, Excel, through various lending subsidiaries, is a leading provider of consumer and auto loans to over 20,000 active customers across Texas and Louisiana. Excel currently has 30 branch locations with over 140 employees.
Additionally, Excel is an active buyer of locally-owned finance companies throughout Texas and Louisiana. Excel provides local business owners with an exit strategy, while providing a post-closing business model which preserves customer relationships that have been built over years of hard work.