IRVING, Texas — In addition to announcing a $150 million warehouse line of credit this week, Exeter Finance Corp. detailed the gains the company has recently made in its business operations.

Discussing its new financing in more detail, Exeter entered into the line of credit with with Wells Fargo Bank, N.A., and plans to use it for bolstering the funds for increasing its brand network and continuing loan portfolio expansion.

The deal is an upswing from the credit facility Exeter accessed via Wells Fargo in April, which totaled $100 million.

"This debt capital is a 50-percent increase over previous levels, which underscores the continued commitment and confidence Wells Fargo has placed in our partnership," said Mark Floyd, Exeter' chief executive officer.

"Wells Fargo is providing a significant opportunity for Exeter to continue growing our business and capitalize on current marketplace opportunities," he added.

Continuing on, Exeter also shared some of the progress it has made. Among the growth highlights of the past year, Exeter said its total originations have climbed 70 percent and its managed receivables have moved ahead 65 percent.

Meanwhile, its franchised dealers have climbed 190 percent and it has bolstered its employment by 70 percent.

The company also rolled out brand offices in Atlanta and Philadelphia, pushing its total to eight branch locations.

Looking at October, in particular, Exeter's total originations hit $140 million.

Moving along, its managed receivables are now at $100 million. Instead of operating out of a central facility, the underwriting and verification teams at Exeter are spread out in local branches. This allows for personal service for customers and lets them have constant access to these "decision-makers," officials said.

Exeter's markets are as follows: Dallas-Fort Worth, Cleveland, New York, Chicago, St. Louis, Boston, Atlanta and Philadelphia. The company says its business is conducted in 13 states.

"Our growth is a testament to the hard work of our experienced, dedicated team and the support of our dealer network," stated Richard Frunzi, Exeter's chief operating officer.

"With additional backing from a market leader like Wells Fargo, we look forward to building upon our proven branch model of local underwriting, funding and relationships, and continuing to provide outstanding service," he added.