Affinity Technology Group Posts Net Loss for 1996.(Originated from The State, Columbia, S.C.)

Feb. 25--Affinity Technology Group's growing pains amounted to a $9.7 million net loss in 1996, but the company says the start-up costs were necessary to pave the way to profitability.

After an initial public stock offering in April, the Columbia-based company had the capital it needed to aggressively launch its automated loan machines. The machines allow consumers to go through the loan application and origination process at a computer kiosk, similar to an automated teller machine.

The company's 1996 performance "absolutely does not concern me in our stage of development," said Joe Boyle, Affinity chief financial officer. "We're not dissatisfied …