Andrea Silvers’ Post

Exciting news in the lending industry! {The business-purpose lender} has launched a broker channel with plans to expand its wholesale operations in the coming years. 1. This move could shake up the industry and provide more options for borrowers looking for alternative financing solutions. 2. With the increasing demand for non-traditional lending options, {the business-purpose lender} is positioning itself well for future growth. 3. Brokers can benefit from this new channel by offering clients more diverse loan products and potentially increasing their business opportunities. 4. As the lending landscape continues to evolve, it will be interesting to see how {the business-purpose lender} competes with established players in the wholesale lending market. 5. This bold move signals a shift towards a more dynamic and innovative approach to lending that could pave the way for new industry standards and practices. Keep an eye on {the business-purpose lender} as they navigate this new territory and reshape the lending landscape. Exciting times ahead for the lending industry!

💡 'Overall, merchants who offer instant financing have an advantage: they can build trust and loyalty with B2B customers. The latest technology allowing real-time loans to happen is rapidly advancing banks' traditional ways of dishing out business loans, so watch this space.' Yaacov Martin, CEO of Jifiti shares latest insights in Inc Magazine! https://lnkd.in/e_m7xRYT

Some great insight into current Non-prime auto lending market.

This article provides a comparative analysis of three prominent subprime lending companies in the automotive industry – Westlake Financial, Veros Credit, and Lobel Financial. It focuses on their accessibility, acceptance criteria, and contracting and efficiency. Westlake Financial distinguishes itself with its 24/7 accessibility through its Dealer Management System (DMS). This round-the-clock availability allows individuals and dealerships to access their services at any time, including weekends, which is particularly beneficial in the fast-paced auto sector. When it comes to acceptance criteria, Lobel Financial imposes limitations on vehicle mileage, not accepting vehicles with over 150k miles. In contrast, Westlake Financial shows flexibility in this regard, accommodating individuals with higher mileage vehicles. Additionally, Westlake Financial is willing to finance vehicles with rebuilt titles, offering opportunities that may not be available through Veros Credit and Lobel Financial. Lobel Financial excels in accommodating customers without an Individual Taxpayer Identification Number (ITIN) or a Social Security Number (SSN). This inclusivity opens up financing options for individuals who may not possess these identification documents. However, Westlake Financial does not offer this advantage. In terms of contracting and efficiency, Westlake Financial stands out as the market leader. Their streamlined processes and focus on efficiency and timeliness ensure a seamless experience for borrowers throughout the financing process. This underscores their commitment to customer satisfaction. In conclusion, Westlake Financial outshines Veros Credit and Lobel Financial in multiple areas. With its 24/7 accessibility, acceptance of high mileage and rebuilt title vehicles, and efficient contracting processes, Westlake Financial caters to a wide range of customers. While Lobel Financial excels in accommodating individuals without ITINs or SSNs, Westlake Financial's overall contracting and efficiency surpass both competitors. Subprime borrowers can utilize this analysis to make informed decisions when selecting a lending company for their automotive financing needs. #subprime #lending

Curious about what loans and lending products absVision can handle? Our July blog breaks it down for you! Whether it’s auto finance, consumer lending, or real estate, absVision is designed to support a wide range of lending needs. Dive into the details here: https://lnkd.in/gWBkvg7X

🚗📈 Is your institution adjusting its approach to the requirements of modern lending? Four new fundamentals are now essential in the auto lending marketplace. Consider these when evaluating your auto loan processes and the enabling data and technology. 1. Fast: Streamline your processes for quicker decisions. 2. Fair: Ensure equitable lending practices. 3. Flexible: Adapt to changing market conditions. 4. Flawless: More accurate and forecastable results are within lenders’ reach. Read more in our new blog post, Lending Perspectives: The New (F)Undamentals of Auto Lending, by Kevin Filan, SVP of Marketing at Open Lending. https://lnkd.in/gnRdRM9u #AutoLending #Finance #LendingTrends #AutoFinance #FinancialInsights

🚀 Learn how CRIF Select Corp can help your financial institution give access to credit and enhance your customer experience with Indirect Lending. Stay ahead of the curve and level up today! #IndirectLending #Automotive #CRIFSelect 🔥

Check out this great article to learn more about CRIF Select and the state of lending!! #Auto #lending #Indirect #partnerships

Interesting Article. As money becomes more expensive, the cost to finance receivables increases. Rather than borrowing money to fiancé these receivables, opening up Card Acceptance can be a lower cost alternative. https://lnkd.in/gP9rpf9p #b2b #b2bpayments #payments #sales #salestraining #b2bsalestraining #merchantservices #creditcardprocessing #success #guide2interchange #training Roger McNamara

Credit unions have long been leaders in auto lending, but recent declines signal the need for strategic change. Discover how to regain market share through EV lending, flexible pricing, transparency, and tech integration. Read more in this insightful article by William Ely >> https://lnkd.in/dT3pgqYk The Banking BUSINESS News Network, LLC #lenders #pricing #technology