ARLINGTON, Texas, April 18, 2022 – Agora Data, whose suite of resources empowers independent auto dealers and finance companies to finance more non-prime customers, continues as a National Corporate Partner by the National Independent Automobile Dealers Association (NIADA).
Agora is committed to leveling the playing field for non-prime auto loan originators, a market that has long been underserved and underbanked. The company plans to offer NIADA’s 20,000 independent dealers the same advantages typically reserved for big franchise operations.
For example, Agora made history with the first-ever crowdsourced subprime securitizations in the auto industry. They were completed in December 2020 and May 2021, and more securitizations are underway. Agora also recently unveiled the first-ever reducing interest rate line of credit. These new offerings pave the way to an unlimited borrowing capacity, the lowest interest rates, and the highest advances without requiring personal guarantees.
The company combines its innovative financial solutions with a groundbreaking technology platform that calculates the book value of non-prime auto loans. Dealers and finance companies can now determine the value of their portfolios using Agora’s patent pending predictive modeling. With this information, dealers can track the performance of their portfolios and optimize the capital they need to fuel growth by using a line of credit or by opportunistically selling a portion of their loans.
“A single objective drives Agora – to remove the barriers dealers and finance companies face when attempting to access needed capital.” said Steve Burke, CEO of Agora Data, Inc. “As a former Buy Here Pay Here dealer, I know firsthand how tough this industry can be for even the brightest entrepreneurs. It is amazing how auto loan originators can grow when the odds are stacked against them, so imagine what they can accomplish if these obstacles are removed.”
NIADA has been supporting independent dealers for 75 years, so it is the perfect fit for a strategic industry partner, says Burke. “NIADA built its reputation on connecting dealers with the most effective solutions providers in our industry. Agora is honored to continue being counted among those trailblazers.”
Agora Data will be attending and exhibiting at the upcoming NIADA Convention & Expo being held June 20-23, 2022, at the MGM Grand Las Vegas. The company plans to announce and demonstrate many innovative advancements, all designed to fuel growth for dealers and finance companies.
About Agora Data, Inc:
Agora Data’s platform delivers a suite of tools to empower independent auto dealers and finance companies to finance non-prime customers. Agora’s family of auto finance products provides a wide range of critical funding paths so originators can obtain the cash they need to fuel growth, compete, and build wealth. Powered by patent pending technology, originators now have access to robust data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever crowdsourced subprime auto securitization in 2020 and followed that up with its second transaction in early 2021. For more information, visit agoradata.com or contact us at 877-592-4672.
Media contact: Shelly Vandeven(682) firstname.lastname@example.org
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