Red Deer, Alberta, February 3, 2012: RIFCO INC. (TSXV-RFC) is pleased to report that today the Company is celebrating its 10th year anniversary.
On February 2, 2002, RIFCO commenced operations when it granted its first loan.
The first loan cheque was hand delivered to a local vendor. RIFCO now electronically forwards $1 to $2 million dollars per week to dealers across Canada.
RIFCO started with 2 employees. The RIFCO team now totals 40 dedicated employees.
Growth continues to be a big part of RIFCO's story. In the 10 years, the Company has been recognized as a leader in fast growth a combined 7 times by Alberta Venture Magazine and Profit magazine.
RIFCO is also pleased to announce that its finance receivables now exceed 100 million dollars for the first time in the Company's history.
RIFCO would like to thank those dealers, employees, suppliers, funders, and shareholders that believed in the Company from the beginning. To celebrate 10 years the Company will be holding a number of events and promotions during the next 10 months.
About RIFCO
RIFCO Inc. operates through its wholly owned subsidiary RIFCO National Auto Finance Corporation to provide automobile loans through its dealership network across Canada.
RIFCO National Auto Finance provides consumers with financing options on new and used vehicles. RIFCO specializes in building long-term partnerships with dealers by investing time in personalized services through dedicated account representatives. RIFCO's quick credit decisions, common sense lending, and expedited funding processes give its dealers better financing options and more closed deals. RIFCO's most successful partnerships result in graduated recognition programs for its loyal dealerships.
RIFCO is committed to continuing growth. Key strategies for achieving this growth include the expansion of its automobile dealer base, excellence in credit and collections processes, and exceptional service to its Dealer partners and its customers.
The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". There are 19.81 million shares outstanding and 21.34 million (fully diluted) shares.
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|CONTACT: | |
|RIFCO INC. | |
|Lance A. Kadatz | |
|Vice President and Chief Financial Officer | |
|Telephone: 1-403-314-1288 EXT 7007 | |
|Fax: 1-403-314-1132 | |
|Email: kadatz@rifco.net | |
|Website: www.rifco.net | |
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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