Consumer Portfolio Services, Inc. (Nasdaq: CPSS) announced on October 9, 2026, that it has amended its revolving credit agreement with Capital One, N.A., and a Class B Lender. The amendment increases the facility's total capacity from $390 million to $518 million. The loans under the agreement are secured by automobile receivables that CPS currently holds or intends to acquire from dealers in the future.
The amended credit agreement allows CPS to borrow on a revolving basis through October 17, 2027. Following this date, the company has the option to repay the outstanding loans in full or allow them to amortize over an eighteen-month period. The amount advanced cannot exceed 95.5% of the principal amount of eligible pledged receivables.
The company stated that this increase brings its total credit facility capacity to $1.026 billion, marking the first time CPS has held over $1 billion in combined credit capacity. The registrant noted that affiliates of Capital One, N.A. have provided investment banking and advisory services to CPS for customary fees and expenses.
