IFC Credit Corporation Renews $5,000,000 in Subordinated Debt

MORTON GROVE, Illinois, February 15, 2008 - IFC Credit Corporation today announced it has renewed and recast $5 million in subordinated debt with the former shareholders of FirstCorp. The $5 million in Subordinated Debt Capital remains in place and has been renewed on terms agreeable to all parties.
“We appreciate the support and confidence of the former FirstCorp shareholders, and their willingness to renew the subordinated debt,” said Rudy Trebels, president and CEO of IFC Credit Corporation.
FirstCorp is one of several key strategic acquisitions IFC Credit Corporation has made over the past six years, which also includes Spectrum Medical Leasing and Pioneer Capital.
“Our company continues to grow, good management is in place, and we expect great things from the IFC team,” said Marc Langs, CFO of IFC Credit Corporation. “All parties are very happy with the outcome and will continue to support the company. This agreement will help us grow the business both organically as well as through future acquisitions.”
About IFC Credit Corporation
IFC Credit Corporation is a national equipment leasing and finance company providing innovative services to manufacturing, wholesale, and professional service industries.  Headquartered in Morton Grove, Illinois, the company was founded in 1988 and serves a broad market from small businesses to Fortune 500 companies. The company is a leading independent lessor that is included in the Monitor 100 list of top equipment leasing companies nationwide.