Arra Finance has taken a major step in the subprime auto lending space, finalizing the acquisition of Crescent Bank’s auto finance division and expanding its funding capital sources. The move boosts Arra’s origination capacity, strengthens dealer partnerships, and positions the company as a significant player in a competitive market.

The September 15 acquisition brings Crescent Bank’s $770 million auto loan portfolio, enhanced technology stack—including e-contracting, auto-decision capabilities, analytics, and fraud protection—and a seasoned servicing team into Arra’s platform. The integration enhances credit application response times and provides a robust analytical framework to support dealers nationwide.

Complementing the acquisition, Arra has partnered with Obra Capital through a multi-year forward flow agreement and secured a credit warehouse facility with Goldman Sachs, giving the company scalable, readily available funding. Together, these moves provide the financing ecosystem necessary to match its expanded origination capacity with reliable, long-term cash flow.

“Arra is set to advance the subprime auto financing market,” said Kenn Wardle, CEO of Arra. “We have the funding, reach, technology, and analytics to deliver consistently positive results for our dealers at significant volume.”

CFO Steven Lackowski highlighted the company’s durable capital structure, designed to meet dealer, borrower, and investor needs efficiently. He added that Arra’s platform enhancements also position the firm for entry into the ABS market, expanding scalability and reliability.

Blair Wallace, President and CEO of Obra, noted, “With expanded capital markets access, we see considerable opportunity for Arra to capitalize on its industry positioning, establishing a new model for operational excellence and strategic execution.”

With this combination of strategic acquisition, tech-enabled servicing, and scalable funding, Arra Finance is poised to redefine efficiency and growth in the subprime auto lending market.