Third Bench Profile
New America Energy Corp., through its subsidiary, Title King, LLC, provides short-term high interest loans to consumers through the collateral use of car and truck titles.
Title King, LLC operates in the alternative financial services industry, providing automobile title loans to consumers who their own vehicle free and clear and need convenient and simple access to funds. The company engages in the issuance of short term loans collateralized by automobiles.
Market, Customers and Distribution Methods
The company’s target market is the subprime market, borrowers with credit scores below 600, who require immediate cash. The overwhelming majority of its business comes from drive-by traffic. However, the company acquires customers through placing postcards and fliers at nearby malls and parking lots. It also uses direct door mailers.
History
The company was founded in 2006. It was incorporated in Nevada in 2006. The company was formerly known as Atheron Inc. and changed its name to New America Energy Corp. in 2010.
