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 will allow Mint to capture a larger share of the automobile leasing market, while at the same time attracting car buyers with high credit ratings that are unable to lease vehicles from traditional sources due to the unsettled nature of the financial markets.”