Commercial Facilities Company (CFC) was established in 1977 as the first Kuwaiti closed shareholding company specialized in providing installment credit facilities to finance consumer and commercial products. The main services provided by CFC are: Financing new and used cars Financing boats and marine equipment Financing furniture and electrical appliances Financing basic construction materials Granting personal cash loans The company was listed in Kuwait Stock Exchange in 1982. It was the first company to be selected for the Kuwaiti government's privatization program. In September 1994, the Kuwait Investment Authority sold 47% of the company's issued shares to the private sector. During 29 years of operation, the company successfully grew its consumer loans portfolio to reach KD 412.4 million (US$ 1,424 million) as of 31/12/2006.