ARLINGTON, Texas —  SFG Finance — an active purchaser of auto finance receivables — revealed recently it has launched a contest for its brokers in an effort to ramp up funding and incentives. So, what’s the grand prize?

SFG announced that the first place prize of a seven-day trip for two to Hawaii or a Caribbean cruise will be awarded to the broker with the highest dollar amount funded between Jan. 1 of this year and June. 30. The prize also includes air fare, hotel or cruise package and $1,000.00 in spending money, the company explained.

But this is just phase one of the contest.

Phase two of the 2012 Broker Incentive Contest is a competition for the Broker of the Year award and runs from Jan. 1 through the end of 2012.

The grand prize — a 10-day trip for two to Hawaii or a cruise to Europe — will be awarded to the broker with the highest dollar amount funded for 2012. Furthermore, the grand prize includes air fare, hotel or cruise package and $2,000.00 in spending money.

Commenting on the news, SFG Finance chief operating officer Henry Gonzalez noted, “Our brokers have been an integral part of our record growth in 2011. We look forward to even more expansion in 2012, and our brokers play a major role in helping us achieve that goal.

“For that reason, we want to thank our brokers for the valued services that they have provided to us over the past several years and offer them this exciting contest,” he continued.
 
In more recent company news, SFG Finance recently launched a nationwide program to purchase existing near prime, subprime and buy-here, pay-here auto loan portfolios from franchised and independent auto dealers, as well as finance companies, company officials explained.

Portfolio sizes range from $500,000 to $150 million, servicing released.

“The program is highly efficient with a 7–10 day total turnaround from analysis to closing and will target accounts with as little as 30 day seasoning,” officials surmised.