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  September 5, 2001
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Home > Company Index > Financial Services > Consumer Loans > Reliance Acceptance Group, Inc.

Reliance Acceptance Group, Inc.
OTC: RACCQ
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 PROFILE
Reliance Acceptance Group (formerly Cole Taylor Financial Group) buys closed-end finance contracts from franchised used-car dealers. The company generally finances used cars up to five years old and with less than 100,000 miles for customers with unreliable credit histories. Reliance buys the finance contract from dealers at a negotiated discount to help offset credit losses. The loan terms are generally two to five years at 18-25%. Reliance serves more than 1,500 dealers from more than 50 decentralized branch offices in 17 states. The company has filed for Chapter 11 bankruptcy protection and reached an agreement under which rival lender Ugly Duckling will service Reliance's auto loan portfolio.

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 FINANCIAL OVERVIEW
1996 Sales (mil.): 72.90
1-Yr. Sales Growth: (60.7)%
Employees: 520
Revenue per employee: $140,192.31

 KEY PEOPLE
• James Moran
    CEO

 CONTACT INFO
1600 W. Plano Pkwy., Ste. 150
Plano, TX 75075
US
Phone: 800-392-3622
Fax: 972-633-7242

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