Irvine, CA (PRWEB) August 29, 2014
Zinc Income Fund, LLC (“ZIF”) is pleased to announce that we recently secured a two million dollar debt investment from Park National Bank (“Park”), a federally chartered bank headquartered in Ohio. Park Vice President, Craig Larson, stated that they issued the debt because of ZIF’s strict underwriting guidelines, which demonstrate a commitment to quality and efficiency. Park has more than 100 years experience helping businesses with their finances, and can recognize a business that has the potential to grow and thrive.
Todd Pigott, principal at Zinc Income Fund, stated that “Park’s investment in our business shows that our business model is sound and is ready to be taken to the next level. Further, with Park’s auditing of our fund quarterly, it is just another pair of eyes to offer our investors the very best capital protection.” Anthony Geraci, also a principal of ZIF, adds that “We have funded over 200 loans through ZIF, have never lost any money in any given month, and have generated over 13% annualized returns since our inception in November of 2012. Our investors are enjoying a double-digit return in a zero interest rate policy (or ZIRP) market all the while serving a great mission: putting hard working people into hard working cars.”
Zinc Income Fund is an auto receivable fund based in Irvine, California that allows investors to pool their money to acquire or purchase retail installment sales contracts (RISCs) which are secured by first liens on vehicles. Zinc Income Fund then earns a return by collecting the payments from the underlying borrowers of the contracts. With its underwriting guidelines, Zinc can ensure its mission of helping to provide cars to hard working people and helping them achieve their dreams in car ownership.
Park National Bank is a full-service financial institution based in Newark, Ohio. Founded in 1908, they are a top community bank in central Ohio and offer some financing options nation-wide. Park consistently earns high marks and awards for its service, community leadership and financial performance. The Park National Bank is a part of Park National Corporation.