The Mint Leasing, Inc., a provider of innovative leasing services to customers of franchised automobile dealers throughout the United States, announced earlier today that it has entered into an agreement with Moody National Bank for a $10 million credit facility to be used for the expansion of its vehicle leasing business.

“We are very pleased to announce this banking relationship with Moody National Bank, which illustrates the bank’s confidence in our unique vehicle leasing business model,” stated Jerry Parish, Chief Executive Officer of The Mint Leasing, Inc. “We have enjoyed an excellent relationship with Moody Bank for several years and expect to continue working together on a long-term basis.”

“The contraction in direct leasing activities by commercial banks and the leasing arms of most automobile companies during the current recession has greatly increased the demand for our services among brand-name automobile retailers throughout the United States,” added Parish. “This new credit facility

Today, The Mint Leasing, Inc. announced that it has secured an adjacent property to expand the company’s headquarters, enabling growth in operations. The company’s customers primarily consist of brand-name automobile dealers that seek to provide leasing options to their customers.

“We are very pleased to have secured the property next to us,” stated Jerry Parish, President and CEO of The Mint Leasing. “This will allow Mint to expand its current operations and provide us room to add twenty-four employees in the near future, primarily in the account verifications and collections departments.”

He added, “Given that we are located so near downtown Houston , when an opportunity such as this presents itself we really must jump on it. We’ve been at this location for ten years now and the chance to expand organically rather than relocating represents a huge advantage for us.”

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