Centrix Financial, LLC Announces Grand Prix of Denver Sponsorship
CENTENNIAL, Colo., June 11 -- Centrix Financial, LLC, a financial management and services firm, announced today that it will sponsor the 2003 Grand Prix of Denver. Today's announcement marks the culmination of several months of discussion and planning between Centrix Financial and the race's organizer and promoter, Dover Motorsports, Inc.
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"The Grand Prix presents an outstanding opportunity for Centrix to reach out to and thank our business partners while furthering an understanding of our Company and what we offer," said Robert E. Sutton, Chairman and Chief Executive Officer of Centrix Financial. "Motor sports represent the pinnacle of performance in the automotive industry, and as such, there is a natural connection to our current business -- auto financing.
"We are a high performance organization. We are here because everything we stand for -- innovation, technology, speed, teamwork -- is reflected and amplified by the principles that drive competitors at the Grand Prix," continued Mr. Sutton. "We are also extremely proud to be able to bring an event of this magnitude and potential to this community. We have been in Denver, quiet but growing, for over thirteen years, and are very excited to have this opportunity to give back to the city that has done so much for us."
Centrix Financial's core business is focused on bringing together financial institutions, auto dealers and consumers with impaired credit in more efficient and rewarding ways. Centrix Financial is on target to underwrite approximately $1 billion in loans in calendar year 2003.
As part of Centrix's role at the Grand Prix, the Company will be participating in charity events with the Denver Grand Prix Foundation. The National Hospice Foundation, an organization dedicated to broadening America's understanding of hospice through education and research, will be Centrix Financial's designated beneficiary.
"Charitable works have always been important to me and this Company," explained Mr. Sutton. "Part of the attraction of the Grand Prix was that it provided a way for us to build on the programs we already have underway."
Centrix Financial's charitable efforts, in addition to the its work with the National Hospice Foundation include work with the Special Olympics, San Diego Children's Hospital, the Colorado SIDS Foundation, Sacred Heart House of Denver, the Hospice of St. John's and the Colorado Neurological Institute. Mr. Sutton also serves on the Board of the Harmon Killebrew Foundation.
In addition to the Grand Prix of Denver, Centrix's motor sports involvement extends to sponsorship and participation in both the SCORE Baja 1000 as well as a relationship with current Champ Car World Series points leader, Michel Jourdain in both CART and the Baja 1000.
Concluded Mr. Sutton, "Mayor-elect Hickenlooper has stated that he wishes to make Denver 'the Best of the Best.' We underscore and share that vision, and are dedicated to not only making this event 'the Best of the Best,' but to making it a clear indication of Centrix and Denver's continuing success."
About Centrix Financial, LLC
Beginning operations in 1990, Denver-based Centrix Financial is a financial management and services firm focused on providing financial strategies and proven products. Seeing an opportunity to address the shortcomings present in traditional approaches to auto buyers with impaired credit, Robert E. Sutton purchased the Company in 1997. One year later, Centrix introduced a new business model designed to bring together financial institutions, auto dealers and car buyers in innovative, more secure and more efficient ways. As part of that model Centrix introduced its core product, the patent-pending Portfolio Management Program (PMP). The Company's innovative business model allows it serve several different customer groups. For financial institutions, Centrix develops and manages portfolios of auto loans that are insured upfront on a loan-by-loan basis, providing secure and profitable financial vehicles with significantly greater flexibility than is available under the industry's standard securitization of entire portfolios. For auto dealers, Centrix provides a safe way to expand into a new and growing market with efficient access to a nationwide network of 200 retail lenders representing nearly $50 billion dollars in total assets. For borrowers, Centrix's PMP offers safe and competitive financing, in addition to a staff of professionals dedicated to helping each customer maintain ownership of their vehicle, which helps improve their overall credit situation. As of May 31, 2003, Centrix Financial has in excess of 500 employees and is managing a portfolio with a total value approaching $1 billion. Please visit the Centrix website, www.centrixfinancial.com , for more information.
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