1. Press Release<br />Accident Credit Group Ltd enter the Credit Repair Market <br />Accident Credit Group Ltd (ACG), a privately owned business based in Birchwood, Warrington have recently launched as a stand-alone Lender in the Credit Repair Market.<br />Two of its founding members and current board Directors have a long and successful history in developing lending and collection platforms. Furthermore, they have both raised significant investments and funding for several businesses. <br />John Byrne, CEO, launched Blue Motor Finance in 2002 and sold this business to Merrill Lynch in 2005, as one of the UK’s largest Motor Finance Lenders, in a deal which saw the company secure a lending facility in excess of £437m.<br />Keith Dearling, Commercial Director, launched Advantage Homeloans as one of the country’s largest Independent Mortgage Lenders which was sold in 2005 to Morgan Stanley in a deal which gave the company a £1 billion per anum lending facility.<br />Commenting on the company’s foray into this new Market, Keith Dearling explained; “after selling our respective businesses, John and I were looking to launch a new lender as this is what we do best. We have spent the last 3 years looking at various lending opportunities and the credit repair market was clearly one that excited us, where we felt we could add value and grow our market share significantly”.<br />The company have an initial lending facility of £48 million over the next 18 months and have access to a larger facility if the demand proves greater.<br />On ACG’s future growth ambitions John Byrne commented; “We want ACG to become a significant player in the credit repair sector over the coming years and have invested heavily in our internal infrastructure. Our business has the foundations that allow us to grow the business quickly in line with demand for our services. We have our own bespoke IT platform which means we operate a paperless office and have recruited a lot of key staff from our previous businesses which means recruiting in the future will be relatively easy. Our business model is built on tight operational efficiencies coupled with controlled underwriting and experienced collections practices”<br />The company believes it is these tight controls coupled with their years of experience running Lenders in a fully authorised market that stands them in good stead to make ACG a serious player in this sector not only in 2011 but for years to come.<br />For More Information contact -:<br />Keith Dearling, <br />ACG Commercial Director, 07785 258000<br />
