SCOTTSDALE, Ariz., Sept. 16, 2016 /PRNewswire/ -- Spring Tree Lending, LLC has closed on a line of credit provided by the Spartan Financial division of American Credit Acceptance, LLC. Spring Tree, based in Atlanta, Georgia, is a wholly owned subsidiary of DPG Investments, LLC of Scottsdale, Arizona. Spring Tree buys and services non-prime auto loans from small and mid-size auto dealers and lenders in the southeastern US.
DPG Chairman Dan Galvanoni said, "This line of credit will further the growth of Spring Tree by providing an additional source of funds to acquire loans from our vast dealer network. We anticipate an excellent relationship with Spartan and look forward to expanding that relationship up to as much as $10 million."
Jerry Hudspeth, Managing Director of DPG and CEO and Managing Partner of Spring Tree, commented, "The non-prime auto lending market is an important part of the economy. We are now poised for rapid growth in this dynamic segment while providing best in business practices."
About DPG: DPG Investments, LLC and its affiliates provide global alternative investment management and advisory services. With offices in Arizona, California, Connecticut and Georgia, DPG was founded in 2004 from a top tier family office. DPG is a recognized, premier multi-strategy global private equity, merchant banking, alternative investment, and multi-family office advisory firm.
DPG's diversified private investor base is comprised of a select group of cutting-edge, ultra-high net worth and high net worth private family offices, offshore affiliates, private equity firms, public capital corporations, top tier hedge funds, insurance companies, endowments, pension plans and various best-in-class operating partners.
As a financier, investor or merchant banker structuring in excess of $1.5 billion in capital commitments since 2004, DPG currently has 26 private equity holdings with a current focus on global consumer finance products, financial services, specialty finance platforms, real estate, alternative energy, oil and gas, natural resources, entertainment and media, special situation and distressed investing, selective venture capital, direct private lending, structured credit products and fund vehicles.
DPG takes pride in delivering customized capital solutions in a disciplined entrepreneurial system.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements.
Contact: Rita Hollingsworth/RMH Media
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spring-tree-lending-a-portfolio-company-of-dpg-investments-llc-obtains-operating-line-of-credit-300329258.html
SOURCE DPG Investments, LLC