ColorTyme, Inc., the largest RTO franchisor in the country, a wholly owned subsidiary of Rent-A-Center, Inc. has secured a new $50 million dollar credit facility with Wells Fargo Foothill for new and existing ColorTyme franchises. This brings the total credit facility available through ColorTyme, Inc. up to $65 million, to include a $15 million dollar facility at Texas Capital Bank.

ColorTyme Franchisees operate 315 locations. So far in 2003, 28 new locations have been opened with 10 more to open by year end. 44 new locations are in the pipeline for 2004. The expanded credit facility, effective for 3 years, will fuel even stronger growth for the Franchise.

Pat Sumner, Director of Franchise Development for ColorTyme explained, "We provide 100% inventory financing for new stores. With a credit line between $250,000 and $300,000, a ColorTyme franchisee can focus on giving customers what they want when they want it, rather than constantly battling for financing." He added, "As your business grows, so does your credit line."

Inventory financing has always been key to the success of any Rent to Own business. As others struggle to secure credit, ColorTyme, Inc. takes the pressure off by providing 100% inventory financing through quality third party lenders like Wells Fargo Foothill.

Existing RTO owners wishing more information on converting to ColorTyme are encouraged to call Pat Sumner at 1-800-608-8963.

ColorTyme Down Under?
ColorTyme, Inc. is currently negotiating franchise opportunities in Australia and New Zealand. Rent to Own is relatively new in these countries. Growth opportunities are staggering and the population welcomes American style franchises.

While there are a few rent to own companies operating in Australia, the focus is primarily rent to rent. Rental companies currently operating in Australia are Pabs, Radio Rentals, Radio Rents, Rent-to-own, and Kwik Rentals.

In June of this year, RTO Online interviewed Jason Wyllie, GM of Pabs, Australia's largest rental company.