News

2 fronts where $100M facility helps Pelican Auto Finance

To hear Pelican Auto Finance chief executive officer Troy Cavallaro explain the impact, the $100 million warehouse funding facility with Wells Fargo Securities the company announced on Wednesday will help the deep subprime auto finance provider in two places.

Tips for Monitoring Dealer Compliance

Monitoring the behavior of another company and its employees may seem difficult, but with the right data and tracking, it’s easier than you might think.

Pelican Auto Finance Expands Hours, Sales Rep Authority

Pelican Auto Finance LLC is bolstering its service to dealers by extending its hours of operation and working to give sales reps more authority in the field, Chief Operating Officer and Chief Compliance Officer Joel Kennedy told Auto Finance News.

Pelican Auto Finance Partners with AUL Corp.

NAPA, Calif., April 1, 2015 /PRNewswire/ -- Pelican Auto Finance, LLC ("Pelican"), a leader in deep sub-prime auto financing, has selected AUL a Napa, CA based company to be their national vehicle service contract provider. AUL an industry leader in the vehicle service contract business, has a strong national network of agents and dealers. The combined strength of the field representation and dealer base of the two companies creates a best-in-class solution for dealers in this market.

Pelican Auto Finance LLC is selected as one of the top 10 highlights in Sub Prime for 2014 in leading industry publication

Pelican Auto Finance is using what executives describe as a “crawl-walk-run approach” to growth in the deep subprime auto financing world. And they want to start running to the point where the company’s portfolio ranks among the top five institutions nationwide, blending together a business strategy of being an indirect lender for franchised and independent dealers to tap as well as a purchaser of paper from buy-here, pay-here operators.

Pelican makes front page of Sub Prime Auto News; the leading Industry publication

Pelican Auto Finance is using what executives describe as a “crawl-walk-run approach” to growth in the deep subprime auto financing world. And they want to start running to the point where the company’s portfolio ranks among the top five institutions nationwide, blending together a business strategy of being an indirect lender for franchised and independent dealers to tap as well as a purchaser of paper from buy-here, pay-here operators.

Pelican Auto Finance, LLC Announces Facility Expansion

For Immediate Release Chadds Ford, Pa – July 5, 2013 – Pelican Auto Finance, LLC (“Pelican”) has announced the build out and operational expansion to a new and significantly larger facility located in Chadds Ford, Pennsylvania. “The new facility will provide space for our continued growth, and this location will be the headquarters for our front end operations” said Troy Cavallaro, CEO of Pelican.

Pelican Auto Finance, LLC Announces “TURBO Funding” Program

Cherry Hill, NJ – April, 10 2013 – Pelican Auto Finance, LLC (“Pelican”) has announced the rollout of its “TURBO Funding” program, a key component to their well-publicized Three-Pronged growth strategy. “We believe that TURBO Funding will be a huge hit with our dealer partners by further improving our high service levels, said Troy Cavallaro, CEO of Pelican. “The program will enable dealers to experience the fastest funding turn times on clean packages in the deep subprime space.

Pelican Auto Finance, LLC Announces New Initiatives to Support Expansion Plan

Cherry Hill, NJ – April, 7 2013 – To coincide with Pelican Auto Finance, LLC’s (“Pelican”) recent announcement on February 1, 2013 of an initial equity investment from funds affiliated with private equity firm Flexpoint Ford, LLC (“Flexpoint Ford”); Pelican has formally announced the Company’s expansion plan. Flexpoint Ford has been granted the option to invest up to $50 million in the aggregate in Pelican.

Pelican Auto Finance, LLC Announces $50 million Partnership with Flexpoint Ford

Pelican Auto Finance, LLC ("Pelican") announced that it has received an initial equity investment from funds affiliated with private equity firm Flexpoint Ford, LLC ("Flexpoint Ford") and that Flexpoint Ford has been granted the option to invest up to $50 million in the aggregate in Pelican. As an indirect, deep sub-prime automotive lender, Pelican provides auto financing solutions for both franchise and independent dealers in the Mid-Atlantic region as well as in Texas.