Credit Acceptance extends warehouse revolving timeframe to 2024

Chicago, Sept. 8 – Credit Acceptance Corp. entered into a first amendment on its $200 million loan and security agreement among the company, CAC Warehouse Funding LLC VIII, Citizens Bank, NA and Wells Fargo Bank, NA on Sept. 1, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the date on which the revolving secured warehouse facility will stop revolving, to Sept. 1, 2024 from July 26, 2022.

There were no other changes to the facility.

Southfield, Mich.-based Credit Acceptance provides consumer auto loans.

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