Autoeloan.com, Inc. Closes First Round Funding.Business Editors & Technology Writers IRVING, Texas--(BUSINESS WIRE)--April 18, 2000 Autoeloan.com, Inc., an Internet-based automobile finance company, raised $1.5 million from private investors to close out its first round of financing. The funding is being used for staffing and for systems infrastructure used in managing the company's automobile loans. Autoeloan.com, Inc. was founded by James W. Bass and Robert W. Hinds during the summer of 1999. Their commitment is to offer automobile loans through automobile dealerships and a secure Web page to the public. Mr. Bass was the President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Auto One Acceptance Corporation, from its inception in November, 1988 through August, 1999. Auto One was purchased by California Federal Bank California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California. It existed from 1926 until 2002, when its parent company Golden State Bancorp was acquired by Citigroup, resulting in the bank being merged into Citibank. , F.S.B. in September, 1997. Auto One was the first non-prime auto finance company to securitize Securitize The practice of a company selling accounts receivables or other debts owed to it. The third party that buys the debt assumes ownership of it and the responsibility for collecting the debts, and keeps the repayments when made. its loans with an S&P rating (1991) and originated over $1 billion in automobile loans during Mr. Bass's tenure. Mr. Hinds has been an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. since 1986, handling equity and debt placements for private and public companies. The company will begin loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. with a select group of automobile dealers in late spring 2000. More information about the company can be viewed at www.autoeloan.com or by calling 512/236-6602. Autoeloan's Corporate Office is in Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to and its Technology Center is in Austin, Texas. |
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