Financial Advisor
Creditcorp
Debt Capital Markets
Senior Secured Credit Facility
Transaction Details
- On July 13, 2018, Creditcorp (d/b/a Check Into Cash or the “Company”) received a new $165 million Senior Secured Credit Facility
- Founded in 1993, Creditcorp is a national leader in short-term credit solutions with more than 900 locations in 27 states across the United States - products offered include cash advances, revolving lines of credit and automobile title loans, as well as check cashing, bill pay, money transfer services, prepaid cards and other related products
- The Company will use the facility to redeem its existing senior secured notes outstanding and for general corporate purposes
- Stephens Inc. acted as Financial Advisor to Creditcorp in the transaction
About the company
Creditcorp is a leading alternative financial services company offering a broad array of affordable products and services to the large consumer base that is underserved by banks and other traditional financial institutions. Creditcorp provides cash advances, revolving lines of credit and automobile title loans, as well as check cashing, bill pay, money transfer services, prepaid cards and other related products. As one of the first alternative financial service providers in the United States, the Company has built its “Check Into Cash” brand over the course of its 24-year operating history and is now one of the largest providers of alternative financial services in the United States, based on store count. As of April 2018, Creditcorp offered products through 922 convenient neighborhood financial centers in 27 states and over the internet in 24 states.
Sources: Public Filings and Creditcorp website.
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