Specialty lender forms some special bonds.
These new relationships provide expanded borrowing capacity to facilitate aggressive growth of its dealer network and increased origination volume of consumer loans.
Tammac's increased access to capital from leading industry lenders will allow the company to include a greater number of qualified dealers within the Northeast, Mid-Atlantic and Mid-Western United States in its floor plan financing program.
Tammac's dealers will also benefit from the insight and experience of the company's strategic relationships in order to better support dealer growth and implement industry best practices.
Tammac's growing dealer network and increasing origination volume, combined with its stringent credit standards and market niche, have positioned the company as one of the leaders in the manufactured housing finance industry.
Robert Tambur, chairman and founder of Tammac, noted, "We are thrilled to partner with LLR and Greenhill as we take our business to the next level.
"Their demonstrated expertise in supporting growth companies and extensive resources will be instrumental in helping Tammac achieve its aggressive growth objectives."
"Tammac has consistently managed to attract a high credit quality customer base," said Mitchell Hollin, a partner at LLR. "We believe that Tammac will be able to leverage its increased access to capital to successfully grow its dealer network and originations volume." Robert H. Niehaus, chairman of Greenhill Capital Partners, added, "Several large manufactured housing finance companies have exited the business over the last few years due to significant credit losses resulting from poor underwriting policies.
"Tammac has successfully been providing financing to the manufactured housing industry for more than 25 years. We are delighted to become partners with Bob Tambur and his strong management team."
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|Title Annotation:||Tammac Holdings Corp|
|Publication:||Real Estate Weekly|
|Date:||May 18, 2005|
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