IRVINE, Calif. — Consumer Portfolio Services revealed just before 2010 wrapped up that it closed a follow-on senior secured financing with an affiliate of Levine Leichtman Capital Partners.

Executives said CPS received $20 million in incremental debt capital. They also indicated LLCP received in the transaction common and convertible preferred shares equivalent in the aggregate to 2.75 million common shares.

Furthermore, the company announced that it simultaneously entered into a $100 million, two-year warehouse credit line with affiliates of Goldman, Sachs & Co. and Fortress Investment Group. Management explained loans under the facility are to be secured by automobile receivables that CPS now holds or will purchase from dealers.

"These transactions provide additional liquidity to continue the growth plan we have discussed in recent quarters," stated Charles Bradley Jr., CPS' president and chief executive officer. "In addition, they should facilitate our return as a regular issuer in the term securitization market."