The future of ACF Car Finance has been secured as primary lender
The Funding Corporation (TFC) has renewed its banking facilities
for the next two years.
Banking facilities are usually only renewed on an annual basis
and this is the longest period in the company’s history for which
funding will be secured.
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Working with corporate lender Barclays Capital, which has been
supplying funding since TFC was founded in 2001, the money will be
used exclusively to help ACF, a subsidiary of TFC, to grow its
brand.
TFC does not provide finance for any other company outside ACF,
which is the largest provider of sub-prime car finance in the
UK.
Motor Finance will look in-depth at the relationship between
TFC and ACF in the next issue.
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