Monday, Jul. 16, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
RICHMOND HILL, Ontario — After completing a full year, Greybook Credit Corp., which specializes in indirect subprime lending, said its nonprime business is going strong and it expects continued expansion.
"Dealers are learning firsthand that Greybook makes it possible to service what has always been previously considered an unserviceable clientele, adding significant value to dealers' special finance divisions," explained Stephanie Gowing, president of Greybrook Credit, which is based in Richmond Hill, Ontario.
"Our team has in-depth industry experience ensuring that automobile dealers get the benefit of our expertise," she continued. "Our dealers are treated like they are our partners. Their clients are dealt with fairly and with respect. As such, we have become a significant source of financing in our sector."
Through the company's dealer network, strategic alliances and auto groups, Greybrook Credit finances contracts arranged by dealers for consumers. The company said its consumers usually cannot meet the lending criteria of traditional banks.
"At Greybrook Credit Corp., we believe that everyone deserves an opportunity to own a vehicle, be treated with respect and have a second chance to rebuild their credit profile," executives said.
Greybrook Corp., the parent company of Greybrook Credit, is an investment firm and conglomerate that provides advice and capital to private and public companies. The company was founded in 1999.
The corporation works with Marchant Securities, which coordinates all ongoing capital funding.
According to the company, Gowing has more than 25 years of experience in the auto and finance industry and has managed assets of more than $200 million.
She was formerly president and chief executive officer of Gowing Capital, which she founded.
Prior to founding Gowing Capital, she served as vice president and general manager of the vehicle leasing division of Newcourt Credit Group and was responsible for guiding the company in its growth.
She also served as vice president of marketing for Family Trustco Leasing, where Gowing said she helped the company turnaround from annual losses to profitability in a short period of time.
For more information on the company, visit .