Triad Financial Services, a subsidiary of ECN Capital Corp signed a letter of intent for $1.14 billion in financing from Blackstone’s Asset-Based Finance (“ABF”) Group. The capital will be used to originate high-grade consumer loans that will be serviced by Triad.

“Triad provides critical financing solutions that help prospective homeowners meet their family’s needs,” said Steve Hudson, CEO of ECN. “We look forward to continuing to innovate with our dealers and provide affordable housing to more Americans. We anticipate this new capital will accelerate growth.”

""We are pleased to expand our relationship with Triad, providing capital to help more families access affordable housing and an attractive opportunity for our investors,”” said Rob Camacho, Senior Managing Director, and Co-Head of Asset Based Finance.

The Blackstone ABF capital will enable the origination of new, high-grade consumer loans and aligns with Blackstone’s goal of providing investment-grade like corporate credit investments for clients including leading insurance companies.