Arivo Acceptance, a subprime auto finance company, headquartered in Sandy, Utah, announced it has upsized its warehouse line of credit with JPMorgan Chase Bank, N.A. from to $200 million to $250 million in aggregate. Following this $50 million increase, Arivo also announced it would issue its second securitization early first quarter 2021, “Our line of credit with J.P. Morgan has been a key component of Arivo’s growth and financial success, allowing us to reach a wide range of investors via a favorable cost of capital,” said Steve Pachella, Arivo Chief Financial Officer.
The increased warehouse line of credit allows Arivo to grow its market presence bringing Subprime Simplified™ to Ohio, North Carolina, South Carolina, Kansas, Tennessee, and Virginia.
Arivo Chief Executive Officer Robert Avery stated, “With the upsized line of credit from J.P. Morgan, Arivo can expand our unparalleled streamlined technology-based lending services to both our auto dealers and customers.”
ABOUT ARIVO ACCEPTANCE
Arivo Acceptance, LLC is a subprime auto finance company based in Sandy, Utah, focused on the brand promise of Subprime Simplified™. By streamlining the lending process for its auto dealer partners, located throughout 20 states, Arivo offers same-day funding through its intuitive loan structuring software PinPoint™ and Fast Funding program. To learn more about Arivo, please visit www.arivo.com.