US Car Loan Specialist Prima Lend Files for Bankruptcy

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US Car Loan Specialist Prima Lend Files for Bankruptcy
Photo: DAVID ZALUBOWSKI AP/TT

The American lender Prima Lend Capital Partners has applied for bankruptcy. The application comes after several months of attempts to reach a settlement with financiers.

Prima Lend's business idea has been to provide car dealers with loans to low-income earners.

The debt mountain amounted to less than 500 million dollars in the bankruptcy, according to court documents.

Prima Lend writes in a press release that they are now seeking buyers for the loan portfolio and that payments to financiers will continue.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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