Fintech
Enova Increases Securitization Warehouse Facilities with Additional $235 Million in Capacity
Enova International (NYSE: ENVA), a leading financial technology company powered by machine learning and artificial intelligence, today announced that during March the company closed $235 million of additional capacity across all four of its existing consumer and small business securitization warehouse facilities.
“Our ability to increase the capacity in each of our existing committed facilities at the same attractive terms reflects the strength of our partnerships with our bank lenders as well as the solid credit performance of our portfolio,” said Steve Cunningham, CFO of Enova. “The expansion of these facilities further enhances our solid liquidity profile and will support growth in both our consumer and small business products as we move into periods of seasonally higher demand from our customers.”
In addition to cash and marketable securities of approximately $200 million, Enova expects to end the first quarter with approximately $400 million in capacity on its committed securitization facilities and secured corporate revolver.