Thursday, Apr. 09, 2020, 09:43 AM
Amid the crisis, the National Independent Automobile Dealers Association reinforced its stable of partners this week.
According to an announcement from NIADA, PrimaLend Capital Partners, a Dallas-based commercial lender, has teamed with the association as a new Bronze-level National Corporate Partner.
PrimaLend provides revolving lines of credit and inventory floorplans to independent auto dealers nationwide.
NIADA highlighted that PrimaLend is a “uniquely responsive, high-service organization” that can allow dealers to focus on selling more vehicles and developing stronger relationships with their customers, helping its dealer partners grow their buy-here, pay-here portfolios and build equity in their businesses.
PrimaLend Capital is founded on the principle that independent dealers can become dramatically more profitable if they retain their retail installment contracts and continue to service and collect those accounts to maturity.
“We help our dealer partners grow their BHPH portfolios and build equity in their businesses,” PrimaLend chief operating officer Paxton Wright said, “as opposed to spending time and resources selling cars only to have others profit from the collection of those accounts.”
NIADA director of business development James Gibson called PrimaLend “an excellent resource for our members to access the capital needed for all of their vehicle acquisitions.”
Gibson added, “PrimaLend has been meeting the financial needs of independent dealers since 2007, and in today’s competitive landscape it is increasingly important that we have partnerships with companies positioned to help our members grow their business.”