Thaxton Group, Inc. - THAX- Profile

Thaxton Group, Inc. (The). The Group's principal activity is to provide diversified consumer financial services. The financial services provided by the Group include: Origination and servicing of direct consumer loans made to credit-impaired borrowers; used automobile lending through the purchase and servicing of used automobile sales contracts; insurance premium finance lending through the purchase of insurance premium finance contracts; selling insurance products on an agency basis and the factoring of accounts receivable and the origination and servicing of small commercial loans to small and medium sized businesses. The Group operates consumer finance branches in 11 states, under the names of TICO Credit, Southern Finance, and Covington Credit. It also operates insurance agency branches in South and North Carolina. Consumer finance accounted for 95% of 2002 revenues; Insurance, 4% and Other, 1%. Provides direct consumer, used automobile, insurance premium and small commercial loans and sells insurance products