By Adriano Marchese
Axis Auto Finance Inc. said Tuesday that it has expanded its credit facility by 20% to 120 million Canadian dollars, the equivalent of around US$97 million.
The Canadian fintech lender focusing on vehicle financing options said it also has lowered the borrowing costs to prime rate plus 190 basis points, from the previous prime plus 2.25%.
Additionally, it has increased the maximum advance rate to 77% from 76%.
Write to Adriano Marchese at adriano.marchese@wsj.com