SALT LAKE CITY — Prestige Financial Services announced on Monday that a new lender has joined with Wells Fargo Preferred Capital and Bank of America Business Capital as institutions on its line of credit.

The new company to join the credit line is Comerica Bank. According to officials, the addition of Comerica will further facilitate the Salt Lake City-based auto finance company's ongoing consumer lending and loan servicing activities.

The senior secured revolving facility, managed by lead agent Wells Fargo Preferred Capital, is structured to allow additional lenders to participate in syndication, to a maximum principal amount of $300 million.

"Prestige Financial's parent company, the Larry H. Miller Group, is one of Comerica Bank's valued customers," said Daniel Hartmann, Comerica's senior vice president for the Central region. "This new credit commitment to Prestige enhances our long-term relationship with the Miller Group."

Now in its 15th year of operations, Prestige specializes in providing consumer financing solutions for dealerships both within and outside of the Miller Group, which officials said is the nation's 10th largest auto retailer. The company manages $550 million of auto loans.

"We're seeing tremendous opportunities in the market right now with strong demand for our product," noted Bryant Henrie, Prestige's chief operating officer. "Comerica's added support will help us to better serve our dealerships and our car-buying customers."