Spring Tree Lending, which buys and services non-prime auto loans from small and mid-size auto dealers and lenders in the Southeast, said its is expanding its service to Arizona with a new Scottsdale location.
Atlanta-based Spring Tree, an affiliate of DPG Investments based in Scottsdale, said its is now licensed to acquire automobile loans in Arizona.
"Spring Tree's capital markets needs will be addressed from our Scottsdale office, while operations will continue to be managed out of the Atlanta office," DPG and Spring Tree Chairman Dan Galvanoni said. "Spring Tree is focused on growing nationally, with an initial focus on key markets throughout the western United States. Spring Tree is keen to take advantage of the current opportunities in the non-prime auto loan market."
Spring Tree CEO and Managing Director Jerry Hudspeth said the expansion into Arizona is one step in the company's growth plan.
"We are researching markets that are geographically close to our two home markets of Georgia and Arizona to answer the strong demand for our loan services," Hudspeth said. "We are also developing additional services to continue expanding our relationships with independent auto dealers."