Texas Loan Corporation and Redpoint Capital Combine Strengths to Form INFINITY SPECIALTY FINANCE

Combination creates nationwide Consumer Finance Company focused on financial solutions in the sub-prime space

Jun 22, 2010, 10:37 ET from Infinity Specialty Finance

DALLAS/FORT WORTH, June 22 /PRNewswire/ -- Arlington-based Texas Loan Corporation, Inc. announced today that it has partnered with Dallas-based Redpoint Funding Group to form Infinity Specialty Finance, LLC (ISF).  ISF is recognized for its highly regarded methods to optimize, efficiently manage and deploy capital in various sub-prime opportunities.  ISF consolidates two management teams with strong functional experience in finance/ accounting as well as sales and marketing with industry experience from technology, business process outsourcing, consumer finance, pawn and retail. Core operations will be run out of the Arlington, Texas office with field offices in Dallas and Euless. ISF will employ approximately 50 people with capital deployed of $200 million.

"Bringing together these two management teams positions ISF as a strategic finance partner for companies of all sizes and product offerings in sub-prime consumer finance.  We are now able to offer our clients a broad platform of services to optimize their financial operations," said Gene McKenzie, chairman and CEO of ISF. 

"In addition to expanding our client and product base, ISF brings formidable intellectual capital to the market place, as well as a unique focus of serving companies helping the under banked consumer," McKenzie added. "For the clients of each company, ISF expands their access to a greater array of talent and specialized services."

Texas Loan Corporation is a privately held company that was founded in 2005 by Mr. McKenzie to focus on the CSO market in the state of Texas.  Over the past 5 years Texas loan Corporation has issued over $3 billion in consumer loans.

"This combination fills a large void on the funding side for financial services companies focused on the under banked," said Andy Thomas, Chief Financial Officer.  "From our experience, we believe there is a critical need to improve the process for sub-prime finance companies to source and deploy new capital, with both ISF and the client achieving a reasonable rate of return. Texas Loan Corporation's ability to evaluate opportunities and execute the financing program is impressive."

"We are delighted to become part of a finance company with a national footprint," said Thomas.  "It is a perfect fit, blending two parts that make a stronger whole with greater capabilities." 

Thomas added, "We have long admired Texas Loan Corporation. By joining our operations with our combined network, we can provide clients with local market expertise wherever they operate."

SOURCE Infinity Specialty Finance