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.

The investment by Flexpoint Ford establishes Pelican as an important auto finance resource for its dealer clients. Pelican provides automotive dealers with a competitive choice to finance deep subprime borrowers, including those with no credit, very low FICO scores, or a previous bankruptcy, repossession or foreclosure.

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