GemCap has funded a $1.0 million loan facility to FlexPath Capital, a purchaser and reseller of non-prime auto loans.

FlexPath Capital CEO Peter Sayer stated “we are pleased to partner with GemCap to provide additional capital for our growing auto technology practice and finance business.  GemCap has already proven to be a quality lender committed to providing us the kind of flexibility and consistency required to allow growth and expansion of our business.”
 
“GemCap is pleased to have provided FlexPath Capital with a flexible financing solution to help achieve their long-term operating goals.” said Jim Thieken, Executive Vice President at GemCap.  Thieken added: “GemCap is looking to further expand its footprint in the sub-prime auto lending and other lender-to-lender markets by providing competitively priced, flexible, asset-based lines.”
 
GemCap provides senior-secured, commercial asset-based loans to low and middle market businesses within the United States & Canada, as well as in-transit inventories en route to the United States. Loans range from $1 million to $10 million. Collateral groups include: inventories (consumer & industrial), receivables, and equipment.