ARLINGTON, Texas — SFG Finance recently revealed it has tapped PassTime USA as its preferred vendor for its loan purchasing programs.

SFG Finance — a purchaser of auto paper from buy-here, pay-here dealers, new car franchised dealers, finance companies, banks and credit unions — contends the new partnership provides a real “value-add” to the company’s offerings.

Further elaborating on this point, SFG Finance chief operating officer Henry Gonzalez noted, “SFG Finance recently launched a new loyalty program to help dealers thrive in today’s competitive environment by utilizing top companies in the industry that are the best at what they do.

“The program provides a real value-add, and we are delighted to have an industry leader such as PassTime USA be associated with our program,” he added.

Executives from PassTime also expressed their enthusiasm for the new partnership.

"We are very excited about being selected as SFG’s preferred vendor for their new program," said Jake Frank, co-founder of PassTime.

"The ability to provide access to a company that specializes in buying BHPH portfolios is another valuable addition to the array of solutions we provide our customers,” he continued.

Highlighting the two companies in greater detail, officials explained that SFG Finance’s national subprime loan portfolio program purchases performing vehicle loans, “providing needed capital and allowing dealers to achieve greater liquidity in their business ventures.”

Furthermore, sellers of portfolios will be provided a credit toward the purchase of PassTime devices, they continued.

“We feel by helping a dealer purchase an item they need, and are already using, we add value to their bottom line,” Gonzalez stressed.

And as for PassTime USA, its tracking devices and solutions are designed to provide their BHPH and subprime finance industry customers with a “complete package for protecting their assets and managing their portfolios.”

One of the services they offer is 24/7 live customer support, as well as the company’s own automated collection technology.

SFG Finance reiterated that it purchases existing near-prime, subprime, and BHPH auto loan portfolios from franchised and independent dealers, as well as finance companies. Portfolio sizes range from $500,000 to $150 million, servicing released and all portfolios are held on balance sheet and serviced internally.

The company contends that its program offers a seven- to 10-day total turnaround from analysis to closing. Officials noted the program can target accounts with as little as 30-day seasoning.

Since inception, SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding is made possible by SFG's parent bank with the added advantage of there being no need to securitize, plus a more stable cost of funds, officials contend.