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ECN Capital: Bank Partner Renews $600MM Funding Commitment

March 20, 2020, 07:10 AM
Filed Under: Industry News

ECN Capital Corp. announced its’ operating subsidiary, Service Finance, has renewed its largest bank funding commitment. Over the next 12 months, this bank partner is committed to purchasing up to $600 million in Service Finance prime and super prime retail installment contracts for home improvement projects across all 50 states.

“In the context of the current economic environment, our long-term partner’s renewal highlights the quality of our prime and super prime assets originated and serviced by Service Finance and the strength of our bank partner funding model,” said Steven Hudson CEO of ECN Capital.

With managed and advised assets of $34 billion, ECN Capital is a leading provider of business services to United States-based banks, credit unions, life insurance companies and investment funds. ECN Capital originates, manages and advises on credit assets on behalf of its partners, specifically unsecured loan portfolios, secured loan portfolios and credit card portfolios. These services are offered through three operating businesses: Service Finance, Triad Financial Services and The Kessler Group.

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