ST. CLOUD, MN--(Marketwire -11/07/11)- Jefferson Capital Systems, LLC, a leading purchaser and servicer of charged-off consumer debt, announced today that it has obtained senior secured debt financing from The PrivateBank. The facility initially provides for $35 Million in available financing and is expandable to $50 Million.
David M. Burton, President and CEO of Jefferson Capital, said: "We are excited to have secured this capital and appreciate the support of The PrivateBank at a time when capital is difficult for many debt purchasers to obtain. We believe this is a clear reflection of the strength of our diversified business model which incorporates traditional charge off purchases, bankruptcy purchasing and servicing and our unique balance transfer program."
Seth Hove, Associate Managing Director of The PrivateBank, added: "We are delighted to enter into a relationship with Jefferson Capital. We are pleased that this credit facility will help support Jefferson Capital's business expansion plans in 2012 and beyond."
Burton added, "This credit facility will enhance our ability to bring value to our growing client base through our unique purchase and servicing options designed to enhance the profitability of the charge off receivables they manage."
About Jefferson Capital Systems, LLC
Jefferson Capital is an industry leading debt solutions provider of traditional and unique recovery services for consumer charged-off receivables, helping credit grantors and accounts receivable portfolio owners maximize returns through charge-off and bankruptcy purchases, bankruptcy servicing and its patented, balance transfer collection program.