Carfinco Income Fund Commencing Operations in Quebec
TSX: CFN.UN
EDMONTON, Nov. 25 /CNW/ - Carfinco Income Fund ("Carfinco" or the "Fund") announces that it now provides its financing programs to automotive dealerships in the province of Quebec.
This geographical expansion enhances Carfinco's current strategies to grow the Fund's finance receivables. "Canada has a population of 34.1 million people, of which 7.9 million, or 23%, live in the province of Quebec. This is the second largest provincial population base, with Ontario being the largest," states Tracy Graf, Carfinco's President and CEO. "This new geographical market represents a significant growth opportunity for Carfinco's finance programs."
"The addition of Quebec to our service area makes Carfinco a truly national lender, providing non-prime automotive financing in all 10 Canadian provinces," adds Mr. Graf.
About Carfinco Income Fund
Carfinco focuses on providing consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The units of the Fund trade on The Toronto Stock Exchange under the symbol "CFN.UN".
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Fund. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
For further information:
Mr. Tracy A. Graf | The Howard Group Inc. | ||||
CEO & Trustee of Carfinco Income Fund | Jeff Walker/Dave Burwell | ||||
Telephone: | 1-888-486-4356 | Investor Relations | |||
Facsimile: | 1-888-486-7456 | Telephone: | 1-888-221-0915 | ||
E-mail: | [email protected] | E-mail: | [email protected] | ||
Web site: | www.carfinco.com | Web site: | www.howardgroupinc.com |
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