Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1002

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 1002
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 from a credit
facility to our consolidated subsidiary Page Eight Funding, LLC. The facility provides for effective advances up to 95.00% of eligible
finance receivables. The Class A loans under the facility generally accrue interest during the revolving period at a per annum rate equal
to the CP Cost of Funds Rate plus 2.85% per annum, with a minimum rate of 3.60% per annum and during the amortization period at a per
annum rate equal to the CP Cost of Funds Rate plus 3.85% per annum, with a minimum rate of 4.60% per annum. In July 2024, this facility
was amended to extend the revolving period to July 2026 and to include an amortization period through July 2027 for any receivables pledged
to the facility at the end of the revolving period. In November 2024, we closed a revolving credit agreement with Oaktree Capital Management,
which was subordinate to our credit agreement with Citibank, N.A., and with a $25 million credit capacity. The facility provides effective
advances up to 10.00% of eligible finance receivables. The Class B loans under the facility generally accrue interest during the revolving
period at a per annum rate equal to the Adjusted Term SOFR plus 6.40% per annum, with a minimum rate of 7.15% per annum and during the
amortization period at a per annum rate equal to the Adjusted Term SOFR plus 7.40% per annum, with a minimum rate of 8.15% per annum.
In December 2024, we increased the capacity to $335 million. At December 31, 2024 there was $269.6 million outstanding under this facility.

On February 2, 2022, we renewed
our two-year revolving credit agreement with Ares Agent Services, L.P. The facility is structured to allow us to fund a portion of the
purchase price of automobile contracts by borrowing from a credit facility to our consolidated subsidiary Page Nine Funding, LLC. The
facility provides for effective advances up to 85.25% of eligible finance receivables. The loans under the facility accrue interest at
a commercial paper rate plus 4.50% per annum, with a minimum rate of 7.50% per annum. In June 2022, we increased the capacity of our credit
agreement with Ares Agent Services,