EFG Companies<\/a>, the innovator behind the award-winning Hyundai Assurance program, and the National Association of Minority Automobile Dealers<\/a> (NAMAD), today announced the establishment of an annual, private donor scholarship that will fund the four-year tuition of a minority student attending the Automotive Marketing and Management Program at Northwood University<\/a>.\u00a0 <\/b><\/p>\n The annual scholarship, funded by EFG Companies, will be awarded each year to a freshman entering the program, and represents a four year investment of $100,000 per student.\u00a0 Applicants will be identified through NAMAD\u2019s membership, they must satisfy NAMAD affiliation requirements, and will be reviewed based upon both academic merit and financial need.<\/p>\n \u201cAt NAMAD, we seek to ensure the presence of a meaningful representative of minority entrepreneurs and employees in the automotive retail sales, supplier and service sectors\u201d said Damon Lester, NAMAD President. \u201cOur partner, EFG Companies, has a successful history of innovation and clearly recognizes the vital role minority dealers play in the industry. Together, we will provide a greater means to impact future leadership opportunities and success for minorities.\u201d<\/p>\n \u201cIt is truly an honor for EFG to bring two stalwart partners together in the form of NAMAD and Northwood to join us in affecting meaningful progress in one of the most critical industries in America,\u201d said John Pappanastos, President and CEO, EFG Companies. \u201cWe\u2019ve seen in just this year alone that the rate of change in which dealers are operating is only increasing.\u00a0 We feel we have a personal responsibility to bring diverse ideas and the brightest minds to the table so the industry may achieve maximum potential.\u201d<\/p>\n \u201cAt Northwood University, one of our greatest distinctions is the personalized attention we offer each student to prepare them as leaders, not just professionals\u201d said Keith Pretty, President and CEO, Northwood University. \u201cNorthwood has a strong minority student population, and this scholarship bolsters our efforts to ensure all students are afforded the opportunity to drive innovation and succeed in the retail automotive marketplace.\u201d<\/p>\n