DALLAS, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Entrepreneur Magazine recognized Tricolor, the nation’s largest used vehicle retailer focusing on the sale and financing of vehicles to the Hispanic consumer, as one of the “Best Entrepreneurial Companies in America” on its 2019 Entrepreneur 360™ List, the most comprehensive analysis of private companies in America. This is the second year in a row that Tricolor has been honored by Entrepreneur Magazine for its impact, innovation, growth, leadership, and value.
Tricolor has achieved a number of significant milestones since winning the recognition in 2018. The company has continued to expand its retail footprint and leadership team, adding veteran innovators to advance its investment in technology and provide high quality vehicles at affordable finance rates to low-income credit invisible customers. Tricolor has also partnered with leading technology and artificial intelligence providers to further refine its proprietary underwriting algorithms. Recently, the company launched a new affiliate called Tricolor Insurance providing affordable, low-monthly premium insurance policies to auto owners.
“Earning this recognition for two years running is an important validation of our emphasis on growth in service to our mission and a direct result of the hard work of our entire team,” said Tricolor CEO Daniel Chu. “We will continue to identify new ways to leverage technology and introduce new products which drive inclusion and provide underserved consumers affordable access to products that can improve their lives.”
Since its founding in 2007, Tricolor has empowered customers by providing access to affordable financing on high quality, certified vehicles in order to enhance the quality of their lives and ultimately help them to build a better future. The company operates 36 dealerships in Texas and California through its Tricolor and Ganas brands. On a combined basis, Tricolor and Ganas have served nearly 50,000 customers and disbursed nearly $1 billion in affordable auto loans by using its proprietary model to segment risk.
Tricolor’s proven and proprietary credit decisioning engine demonstrates its advanced analytical competency and serves as the foundation for a new direct lending model for subprime customers. Its AI-powered segmentation model assesses unique, nontraditional attributes for no credit and low-income consumers in order to assess intent and ability to repay. For more than a decade, Tricolor has successfully scored no file and thin file Hispanics, as evidenced by five well-received ABS securitizations.
Entrepreneur 360 honorees were identified based on results from a comprehensive study of independently owned companies using a proprietary algorithm and other advanced analytics. The algorithm was built on a balanced scorecard designed to measure five metrics reflecting major pillars of entrepreneurship—innovation, growth, leadership, impact and business valuation.
For more information about Tricolor and Ganas, please visit tricolor.com and ganas.com.
About Tricolor
Tricolor is a mission-driven company which sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California, utilizing advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor and its affiliate Ganas Auto Group operate 36 retail dealerships across 12 markets in Texas and California, as well as a shared services center in Guadalajara, Mexico.
About Entrepreneur Media, Inc.
For 41 years, Entrepreneur Media Inc. has been serving the entrepreneurial community by providing comprehensive coverage of business and personal success through original content and events. Entrepreneur magazine, Entrepreneur.com, GreenEntrepreneur.com and publishing imprint Entrepreneur Press provide solutions, information, inspiration and education read by millions of entrepreneurs and small business owners worldwide. To learn more, visit entrepreneur.com. Follow us on Twitter or Instagram at @Entrepreneur and like us on Facebook at facebook.com/entmagazine.
CONTACT INFORMATION
Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455
stephanie@cosmo-pr.com