Auto Loan -- Program Overview

BCI Financial has sold more than $200 million in automobile loans since our inception in 1998. The pass-through program has been very successful because it provides our client institutions with an easy way to build profitable consumer loan footings without the extra overhead.

Let our lending and servicing experts work for you too!

In summary, here's how the program works:

Step one: We agree upon the amount of loans you wish to purchase each month, on the underwriting criteria upon which credit decisions will be made by BCI, and on what documents you want us to submit for each loan forwarded to you for purchase.

Step two: On a regular basis, each month, we submit a package of loans to you for your review and purchase. The package contains all of the documents you requested (e.g. copy of loan contract, application, credit report, and so on). After you have reviewed each loan in the package to confirm it meets your underwriting criteria, you fund us for that package.

Step three: We fully service the loans you have purchased and send you detailed monthly reports on all aspects of that process including a detailed accounting of funds collected and paid, trial balance, and delinquency reporting. We remit the funds due to you on a monthly basis.

Types of Loans

BCI is currently offering high quality indirect automobile loans to financial institutions.

These loans have a strong yield and low delinquency.
Vehicles are new and late model used.

Different ways that loans can be purchased by your institution:

• On a pass through basis, in amounts from $250,000. per month to $5,000,000. per month.
• In bulk pools, in set amounts as low as $2,000,000. on a monthly or quarterly basis. There is no additional fee for lower pools.

Legal Issues

BCI will enter into one contract with your institution, and use that contract as a basis for all future purchases. This will result in the first of many cost savings from doing business with BCI Financial.

Servicing

BCI will handle all aspects of servicing of your loan portfolio. This includes all payment processing, title follow-up, programming, accounting, customer service and collections.

For more information, consult the FAQ/Financial Institutions and then Contact Us for more details.