Coastal Credit LLC Announces Major Business Transformation and Key Addition to Management Team

INDIANAPOLIS--()--Coastal Credit, LLC (“Coastal”), a leading independent auto finance company, announced today the opening of a major operations center in Indianapolis and the addition of Christine Brady, a proven industry veteran, to the Company’s management team.

“For over 27 years, Coastal has been a partner to auto dealers, and, with this new facility and additional technology investments, we will continue to improve the experience of all of our customers”

Coastal’s recently opened, 25,000 square foot, state-of-the-art headquarters facility in Indianapolis will now also become the Eastern Operations Center, and the existing Denver facility will become the Western Operations Center. All existing branch services will be consolidated into these locations. These centers will provide expanded service levels through additional operating hours and the acceleration of funding times through new technology and services. Coastal will continue to provide personal service to its dealer customers in local markets through a network of Account Executives.

Martin McFarland, Coastal’s CEO, stated, “The new facility has been designed and staffed to provide a high-level of service to both our dealer customers as well as our loan customers. We will be making ongoing investments in our business to enhance our ability to be a service leader in our industry.” Marty went on to say, “For over 27 years, Coastal has been a partner to auto dealers, and, with this new facility and additional technology investments, we will continue to improve the experience of all of our customers”.

Additionally, Coastal is proud to announce that the previous CIO and Co-Founder of Dealer Services Corporation / NextGear Capital, Christine Brady, has joined Coastal as Chief Information Officer and Chief Customer Officer. Chris brings a deep background in building technology platforms that have proven transformative in the auto lending industry. Regarding her new role, Chris stated, “I am thrilled to partner again with Marty and join the leadership of Coastal Credit. This investment in technology and service levels demonstrates our commitment to auto dealers and the auto lending market. This change is just the first in an ongoing series of technology and service level improvements.” The position of Chief Customer Officer is a first in Coastal’s history and reflects Coastal’s commitment to delivering exceptional customer experiences.

About Coastal Credit LLC

Coastal Credit LLC is a specialized auto finance company that acquires sub-prime auto receivables from both franchised and independent automobile dealers which have entered into contracts with purchasers of used cars and light trucks. Coastal Credit was purchased by Parthenon Capital Partners, a private equity firm with locations in Boston and San Francisco, in February 2013 through the acquisition of White River Capital, Inc. Coastal Credit currently conducts business in 26 states.

Contacts

Parthenon Capital Partners
Molly Fazio, 617-960-4012
mollyf@parthenoncapital.com