LatAm Autos Limited announced the launch of MotorCredit, a new auto finance product. Auto finance products are being rolled-out initially through Ecuadorean operations and will start generating revenues this quarter, and contribute material revenues in 2017. The Company also has an agreement with Mexican bank Credito Real where Motorcredit will also be implemented. Under the partnership agreement in Ecuador, LatAm Autos will be remunerated for origination and transaction execution services through its software platform. MotorCredit is expected to provide LatAm Autos immediate access to between 100-200 used car financings per month with Banco Pichincha alone with an average loan size of approximately $14,000. Additional loan processing capacity could increase this up to c.650 Ecuadorean monthly car financings based on the current listings and conversion factors on the websites of LatAm Autos. The MotorCredit auto finance product is initially focused on the provision of finance for used car purchases, with new car and other financing products to be rolled out in the future. The introduction of the MotorCredit auto finance product adds further product depth to the Company's online marketplace platform and allows LatAm Autos to participate across a greater proportion of the motor vehicle purchase process. MotorCredit has been developed specifically by LatAm Autos as a fully integrated mobile and desktop enabled product. MotorCredit will utilise a streamlined credit application process, powered by sophisticated credit algorithms. Customers of LatAm Autos will receive financing pre-approval within minutes to complete their purchases all within an integrated LatAm Autos platform.