News Column

Carfinco Announces Record Canadian Loan Originations and to Announce Second Quarter Results

August 5, 2014


EDMONTON, Aug. 5, 2014 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company"), Carfinco announces the Company's Canadian operations achieved $17.0 million in loan originations for the month of July 2014.  This record surpasses the one achieved in June of $16.4 million.  In addition, Carfinco'sUSA division, Persian Acceptance Corp. ("PAC"), achieved loan originations of $3.4 million for the month.

"The company continues to focus on delivering high levels of service, while providing a broad range of non-prime finance programs to its dealer base," stated Mr. Troy Graf, COO of Carfinco.

Also, Carfinco will announce its financial results for the second quarter ended June 30, 2014 on Tuesday, August 12, 2014 after market close.  A live conference call will be held on Wednesday, August 13, 2014 at 11:00am MT (1:00pm ET) and will include a discussion by management about Carfinco's second quarter results followed by a question and answer period.

Participants can access the conference call by dialing the following numbers:

North America Toll-Free 1-416-640-5946

Internationally: 1-866-233-4585

Callers should dial in approximately five minutes prior to the scheduled start time.  An audio replay may be accessed through the Investor Relations section of our website at shortly after the conclusion of the conference call.

About Carfinco Financial Group Inc.

Carfinco Financial Group Inc., through its Canadian and United States subsidiaries (collectively, "Carfinco" or the "Company"), focuses on providing indirect 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 plans to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The shares of Carfinco trade on The Toronto Stock Exchange under the symbol "CFN".

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company.  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.

SOURCE Carfinco Financial Group Inc.

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Source: Canada Newswire

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