Arlington, Texas — Southside Financial Group, an active purchaser of auto finance receivables, today announced the company is changing its name from Southside Financial Group to its most commonly used moniker, SFG Finance, effective immediately.
“Since the founding of Southside Financial Group, the majority of our customers, vendors, and employees have informally referred to us as simply SFG Finance and frankly, we like it. Therefore, we have decided to formally change our name to reflect what the public has already thoughtfully given us. Effective immediately, Southside Financial Group has changed its name to SFG Finance,” said SFG Finance COO Henry Gonzalez.” The ownership and management of our company remain the same as does our commitment of excellence to everyone we do business with. We would like to thank everyone for the valued services that you have provided to us over the past several years and look forward to many more to come,” Gonzalez added.
SFG Finance recently launched a new nationwide program to purchase existing near prime and subprime auto loan portfolios from franchised and independent auto dealers. The program includes near prime and subprime portfolios ranging from $500,000 to $40 million, service released; all portfolios are held on the balance sheet and serviced internally. The program is highly efficient with a 7-10 day total turnaround from analysis to closing, and will target accounts with 60-90 day pay history. Since the inception of this program SFG Finance has actively purchased and closed portfolios from dealers in 30 states.
Funding is made possible by SFG’s parent bank, with the added advantage of no need to securitize plus a more stable cost of funds.SFG Finance offers complete transparency and up-front pricing based its superior analytics. A due diligence team will evaluate all loans to maximize return without interrupting the dealership’s existing business, ensuring a seamless transition.
SFG Finance’s tagline is: Turning Paper into Profit … One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nation’s largest independent banks with $3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The company’s aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit:www.sfgfinance.com or call: 866-590-7734.