Asta Funding Announces New $20 million Discretionary Credit Facility

Debt buyer Asta Funding, Inc. (Nasdaq: ASFI) today announced that it has obtained a new discretionary credit facility of $20 million with Bank Leumi, USA.

Gary Stern, President and Chief Executive Officer of Asta Funding, said, “We are pleased to announce this new credit facility with very favorable terms. Although we currently have sufficient cash resources to finance our operations and have a very strong liquidity position, such a facility will enable the company to react quickly and opportunistically as expansion prospects arise. We have been working with Bank Leumi for many years and appreciate their continued support and confidence in Asta Funding. In addition, we are well positioned to add other banking partners as needed.”

Based in Englewood Cliffs, NJ, Asta Funding, Inc., is a financial services receivable asset management company that specializes in the purchase, management and liquidation of performing and non-performing consumer and other receivables.