According to data from the U.S. Federal Reserve Board (http://nnw.fm/dPEg3), roughly $3.66 trillion in consumer credit was outstanding in the United States as of July 2016. About 90 percent of these accounts are expected to be repaid pursuant to the terms of the contractual agreement, according to DBA International (http://nnw.fm/I4pf2). The remaining 10 percent, however, serve as the foundation for the massive debt collection industry, which returned approximately $44.6 billion to creditors in 2010, according to PricewaterhouseCoopers. One company operating in this lucrative industry is LM Funding America, Inc. (NASDAQ: LMFA), a specialty financing company that offers funding to nonprofit community associations in exchange for a portion of these associations’ rights to delinquent accounts. Last month, LMFA released its financial results for the second quarter of 2016, reporting total revenue of $1.43 million. The company will look to build on these results by expanding its portfolio to include more than 2,000 delinquent accounts during the 12-month period ending March 31, 2017. This projected growth would represent an increase of more than 400 percent from the previous year.
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About LM Funding America
LM Funding America, Inc., together with its subsidiaries, is a specialty finance company offering funding to nonprofit community associations (“NCA”) located in Florida, Washington, Colorado and Illinois. The company provides funding to these associations by purchasing a portion of the NCA’s rights to delinquent accounts resulting from unpaid association assessments. LM Funding also generates recurring rental revenue from a sizable REO portfolio totaling more than 60 properties. The company was founded in 2008 and is based in Tampa, Florida. The company’s common shares and warrants trade on the NASDAQ Capital Market under the symbols “LMFA” and “LMFAW”. For more information, visit: http://ir.lmfunding.com.
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