Victory Park Capital (VPC), an investment firm focused on private middle market debt and equity investments, has provided a USD100 million senior secured credit facility to Wheels Financial Group, LLC (d/b/a “LoanMart”), an auto title lender.
The credit facility will help support the company’s growth and ability to provide under-banked consumers with affordable auto title loans.
“LoanMart is an established business with a proven track record in the auto title loan industry,” says Jason Brown, partner at VPC. “The management team brings decades of direct experience and has demonstrated a unique ability to evaluate consumer credit risk through economic cycles.”
Based in Encino, California, LoanMart has become the largest auto title lender in the state. The company is led by industry veterans Hugo Dooner, CEO, and Suken Mehta, CFO.
“Victory Park is a leader in the structured finance lending space,” adds Dooner. “We look forward to working with an experienced partner to support the continued expansion of our business.”
