Armstrong Corporate Capital Ltd, a new non-conforming car financier, is expanding its business from a private circle of investors and is undertaking its first public fundraising. The firm is projecting returns to investors of "between 15 per cent and 20 per cent per annum based on current expectations of prevailing car loan rates."Its founder and CEO, Frank Armstrong (a former ANZ and Esanda executive), and his brother, Danny (an NAB executive), have so far invested "approximately A$4.3 million of their collective company, family trust and super funds in second-hand vehicle finance, with nil defaults on principal repayments and interest", the information memorandum states.The ACCL directors say they "realised, from first-hand experience, that the GFC had created an investment opportunity in this space.""This followed the withdrawal from the sector of large players such as GE, AGC, [the] trading banks and Esanda from the older second-tier market."Armstrong Corporate is chasing borrowers willing to pay high interest rates, a class of borrower who may have "minor defaults on utilities bills or the like, or are recent arrivals from overseas.""These people are looking to purchase an older reliable vehicles and accordingly are unable to secure prime bank finance as a viable alternative, and are still heavily reliant on a motor vehicle to get to work and manage their daily lives", ACCL said in an information memorandum for investors.Car dealers with whom Armstrong Corporate has retailed its loans to date are "licensed vehicle finance brokers in the south-east Queensland region." "Opportunities for additional lending are readily available" from debt collectors, Ladbrokes, Import Auto Centre, CapitalCorp, Bryan Burt Ford and South East Auto Loans, ACCL said.The founders say they have invested $360,000 in licensing and set-up costs.ACCL is registered with ASIC as a pooled motor-vehicle chattel mortgage scheme.