KBRA Comments on Sale of Bepensa Capital Inc, FinBe USA Trust 2025-1 Performance Guarantor

NEW YORK--(BUSINESS WIRE)--On December 26, 2025, Bepensa Capital, S.A. de C.V. announced it completed the full sale of its Bepensa Capital Inc. (“Bepensa Capital”) business in the United States to Generosity Lending Services, LLC (“Generosity Lending”). Bepensa Capital stated that the transaction aligns with its stated strategy to focus resources on Mexico.

Prior to the sale, Bepensa Capital was the majority owner (97.6%) of FinBe Inc. (“FinBe” or the “Company”), sponsor and servicer of FinBe USA Trust 2025-1 (“FinBe 2025-1”), an auto loan ABS transaction rated by KBRA. FinBe’s CEO, who joined the Company in 2011, has 25% ownership in Generosity Lending. The sale does not trigger any change-of-control provisions in FinBe 2025-1.

The Company indicated that it is expected to continue operating and servicing its outstanding managed portfolio including the loans in FinBe 2025-1. The Company also stated that it has halted originations, though it may restart them in the future.

At closing, the transaction benefited from a performance guarantee provided by Bepensa Capital. The performance guarantee has been transferred to FinBe’s new owner.

FinBe is an indirect auto finance company headquartered in Fort Lauderdale, Florida. FinBe purchased motor vehicle loan contracts from franchised and independent auto dealerships. The Company was incorporated in 2007 under the name AFS Acceptance and was acquired by Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, E.N.R. (“Crédito Real SAB”), a Mexican financial services company in 2015. Following Crédito Real SAB’s financial restructuring proceedings in April 2023, the Company was sold in a court approved transaction to Bepensa Capital. The Company was subsequently renamed FinBe.

KBRA will continue to monitor the performance of the transaction as it relates to KBRA’s outstanding ratings.

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1012918