This new
installment loan product gives our best customers, who have
demonstrated credit worthiness with shorter term loans, a
longer term loan solution
Jay B. Shipowitz, President and CEO of ACE
"This new installment loan product gives our best customers,
who have demonstrated credit worthiness with shorter term loans,
a longer term loan solution," said Jay B. Shipowitz, President
and CEO of ACE. "Adding new products that give our customers
greater access to credit and more flexibility is a key component
of our product strategy."
An important feature of the loan will be an unconditional
customer satisfaction guarantee. Any borrower may return the
loan proceeds, for any reason, within two business days and pay
no fees or penalties. "Giving consumers the benefit to
reconsider their decision to borrow and return to ACE within two
business days and pay nothing for the loan, strengthens ACE's
ongoing commitment to quality products and superior customer
service," said Shipowitz.
"We are excited about the opportunity to reach new customers
through ACE's stores in Texas, Pennsylvania and Arkansas," said
Alonzo J. Primus, Executive Vice President of National Consumer
Lending for FBD. "We have created a product that meets the needs
of a growing segment of consumers who are looking for the
financial flexibility of a small, installment loan."
