Credit Acceptance Announces Extension Of $500.0 Million Asset-Backed Financing
Amount Raised
$500 Million
Round Type
Funding Round
SouthfieldFinancial ServicesFinanceLendingDescription
Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended by three years the $500.0 million asset-backed non-recourse secured financing that we entered into on August 28, 2019 (the “Financing”) and to which we refer as Term ABS 2019-2. Under the amendment effecting the extension, the date on which the Financing will cease to revolve has been extended from August 15, 2022 to August 15, 2025. The amendment has also increased the interest rate under the Financing from 3.13% to 5.15% and decreased the servicing fee from 6.0% to 4.0% of collections on the underlying consumer loans.
Quick answer
Credit Acceptance Corporation raised $500 Million in a Funding Round round, dated August 12, 2022. Credit Acceptance Corporation is based in Southfield, Michigan, United States.
- How much did Credit Acceptance Corporation raise?
- Credit Acceptance Corporation raised $500 Million in a Funding Round round on August 12, 2022.
- What does Credit Acceptance Corporation do?
- Credit Acceptance Corp. (CACC) is a publicly traded finance company that provides automobile loans.
- Where is Credit Acceptance Corporation based and how big is it?
- Credit Acceptance Corporation is based in Southfield, Michigan, United States. Fundz records about 2,500 employees.
- Who are the decision-makers at Credit Acceptance Corporation?
- Fundz holds 1 contact at Credit Acceptance Corporation, including the CEO. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Finance around the same time
Companies in the same sectors as Credit Acceptance Corporation that raised within 45 days of this round, from Fundz verified event records.
- FinVolution Group raised an undisclosed amount (Funding Round) on September 26, 2022.
- Eightco Holdings raised $28M on September 14, 2022.
- Fazz raised $100M (Series C) on September 14, 2022.
- NexBank Capital raised $50M on September 14, 2022.
- Nakamoto raised $250K on September 14, 2022.
- Momnt raised $9.5M on September 7, 2022.
Who to call at Credit Acceptance Corporation, and when
A new round usually means Credit Acceptance Corporation is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Credit Acceptance Corporation raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Credit Acceptance Corporation, from your own LinkedIn network
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Related People
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