AutoInfo opens NorthEast Regional Center.FAIR LAWN Fair Lawn, borough (1990 pop. 30,548), Bergen co., NE N.J., across the Passaic River from Paterson; inc. 1924. It is residential with light industries. , N.J.--(BUSINESS WIRE)--July 15, 1996--AutoInfo, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AUTO) announced today that CarLoanCo, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has commenced operations in Norwalk, Connecticut in 10,000 square feet of newly renovated office space. CarLoanCo will operate AutoInfo's Northeast Regional Center, originating and servicing non-prime automobile loans initially in the six state New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. region. "We are extremely excited to open our second regional center to further our strategic goals of growth and continued profitability", stated Scott Zecher, AutoInfo's president. "At CarLoanCo we have assembled an industry experienced management team, led by Andrew F. Ross, with many years of involvement in non-prime automobile lending in the New England region. This team has cultivated relationships with a vast network of automobile dealers. In anticipation of the commencement of operations, over 150 dealers have already executed agreements to participate in CarLoanCo programs", added Zecher. AutoInfo, Inc. is a specialized consumer finance company that acquires and services retail installment contracts installment contract n. an agreement in which payments of money, delivery of goods or performance of services are to be made in a series of payments, deliveries or performances, usually on specific dates or upon certain happenings. from automobile dealers selling new and used vehicles to non-prime customers. CONTACT: Scott Zecher (201) 703-0500 |
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