GM Minority Dealer Association Names Nuvell Credit Its Preferred Non-Prime Lender

LITTLE ROCK - The GM Minority Dealer Association has named Nuvell Credit Corporation, based here, as its preferred non-prime lender.

"Nuvell has the capacity to offer each GM minority dealer consistency, stability and the means to succeed," said Gregory Jackson, GMMDA president. "I'm excited about our relationship with Nuvell as our preferred non-prime lender."

Gerald Culver, Nuvell executive vice president, added, "The GMMDA has been achieving great results for its customers for years and we're delighted that we have been selected for this honor."

Nuvell, a part of GMAC Financial Services North American auto financing operations since 1997, continued its growth trend in 2002, with a 12 percent increase in accounts outstanding year over year, including individual contract purchases, portfolio purchases and private-label financing programs.

GMAC Financial Services includes automotive financing, commercial finance, insurance and mortgage products, and real estate services. With a presence in 41 nations, GMAC earned $1.9 billion in 2002. A wholly owned subsidiary of General Motors since 1919, GMAC has extended more than $1 trillion in credit to finance upwards of 150 million vehicles.

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