By Josh Hall (Twitter: @Vancan19)

one billion dollars

Red Deer company hits lofty milestone

Apr 1, 2019 | 3:10 PM

Rifco, a home-grown Red Deer business, recently hit $1 billion in approved automobile loans.

Founded 15 years ago, Rifco National Auto Finance Corporation provides consumers with loans through dealers across Canada.

The company’s credit and loan servicing centre in downtown Red Deer is staffed by close to 100 full-time employees, and the company has remote sales staff working in nine provinces.

Rifco CEO Bill Graham says it hasn’t been easy getting to a billion through a credit crisis, an auto industry crisis, and mos recently the economic downturn.

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“Putting a billion dollars into context is difficult for me. This milestone, one billion dollars lent, is a big deal,” he says. “Congratulations to Rifco and to all its valued employees.”

Rifco began with two employees, and has since provided auto loans to more than 50,000 Canadians.

To celebrate the accomplishment, Rifco announced prizes leading up to the milestone including a trip around the world to one Dealer Partner that took them over the $1 billion dollar mark, gas-for-a-year to the customer that is on the financed contract, and staff giveaways leading up to the big day.