Avid Acceptance, LLC Announces Warehouse Facility with JPMorgan Chase

SALT LAKE CITY–(BUSINESS WIRE)–Avid Acceptance, LLC (“Avid” or the “Company”) today announced the
completion of an asset-backed warehouse facility arranged by JPMorgan
Chase Bank, N.A. The facility was established to provide additional
liquidity to support the Company’s short-term and long-term growth
strategies and diversify the Company’s funding model. The facility
offers competitive pricing that will directly reduce the Company’s
interest expense.

“This new credit facility, combined with our inaugural asset-backed
securitization earlier this year, will further strengthen our diverse
funding strategy,” said Curtis Ash, the Company’s Chief Financial
Officer. “We’re pleased to partner with a leading global financial
services firm like JPMorgan Chase.”

About Avid Acceptance, LLC

Avid Acceptance, LLC is a privately held consumer finance company that
offers specialty automobile financing to consumers through its network
of dealers. The Salt Lake City based Company was founded in 2009.

Avid is a diversified financial services firm specializing in purchasing
and servicing retail automobile contracts originated by its network of
franchised and select independent dealers in the United States. The
Company provides indirect financing through its automobile contract
purchases, serving as an alternative source of financing for auto
dealerships.

The Company is part of Avtech Financial Group, an association of
companies that provide a range of financing and servicing solutions to
clients throughout the United States. The Avtech Financial Group of
companies provide large and small-scale real estate financing options
for commercial real estate, equipment leasing for many types of
equipment and software in multiple industries, and consumer automobile
financing. For more information, please visit www.avtechfinancialgroup.com.

Contacts

Avid Acceptance, LLC
Curtis Ash, 801-944-3312
cash@avidac.com
or
Marcus
Tarbet, 801-365-3639
mtarbet@avidac.com

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