CPS Announces Renewal of $200 Million Credit Facility

Group 1 - Consumer Portfolio Services, Inc. renewed its two-year revolving credit agreement with Citibank, N.A. on July 11, 2024 [1] - The renewed credit agreement allows CPS to borrow on a revolving basis through July 15, 2026, with an option to repay outstanding loans in full or amortize over a one-year period thereafter [2] - CPS specializes in providing indirect automobile financing to individuals with past credit issues or limited credit histories, primarily purchasing retail installment sales contracts from franchised automobile dealerships [3] Group 2 - The company expects the revolving period of the credit agreement to last for two years, followed by a potential amortization period [4]