MINNEAPOLIS - Olympic Financial Ltd. said the lead bank of First Bank System Inc. has extended a $10 million warehousing line of credit to finance the acquisition of automobile loans.
The credit line from First Bank of Minneapolis supplements a $35 million warehousing credit with Saturn Financial Services Inc., a subsidiary of U.S. West Financial Services, and other arrangements with Minnesota banks.
Minneapolis-based Olympic, which purchases, pools, sells, and services loans made by more than 470 auto dealers, is expanding its territory.
