WhiteHorse Finance, Inc. Reports Second Quarter 2013 Earnings Results

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August 13, 2013 by apicomely

The distribution was payable on July 3, 2013 to stockholders of record as of June 21, 2013. This marks the third consecutive quarter that the Company has declared a distribution at this rate. Distributions are paid from taxable earnings and may include return of capital and/or capital gains. The specific tax characteristics of the distributions will be reported to stockholders on Form 1099-DIV after the end of the calendar year and in the Company’s periodic reports filed with the Securities and Exchange Commission. Recent Developments On July 16, 2013, WhiteHorse Finance priced an offering of $30.0 million of aggregate principal amount of senior notes (the “Notes”), the net proceeds of which were used to reduce outstanding obligations under the Company’s unsecured term loan.

Foundation Finance Company Expands Consumer Financing Programs to Include Superprime Pricing Tier

Our second-look home improvement financing programs for near-prime and subprime customers have been hugely popular for home improvement dealers because most home improvement lenders approve only the perfect customers, says Andrea McCullion, senior vice president of marketing for FFC. But they left a lot of creditworthy customers on the table that FFC can approve. In order to streamline the process for dealers, FFC has launched a new pricing tier for the strong A credit, superprime customers that typically get approved by these larger lenders. Dealers now have access to reduced interest rates and promotional fees that meet or beat those types of programs for their best customers, plus full access to the B, C and D credit programs that can help them close more sales. Dealers can now focus on what they do best selling rather than on shopping multiple finance companies, continues McCullion.

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