Agora Data
Adds Credit Lines for Buy Here Pay Here Dealers
AgoraCredit bridges loan originators’
transition into cost effective and abundant source of capital
(ARLINGTON,
Texas, February 9, 2021) Adding to
its suite of market-disruptive capabilities, Agora Data, Inc. announced the
rollout of its newest tool, AgoraCredit – a dealer-friendly line of credit to
continue helping an underserved segment of the auto industry. With AgoraCredit,
Buy Here Pay Here dealers and other underbanked originators can transition from
their current senior lender into interim credit lines that are designed to
transition them into a highly efficient and abundant source of permanent
capital, AgoraCapital. AgoraCredit was created with the specific goal of not
locking originators into expensive and risky lines of credit, but instead with
the objective of providing a smooth glidepath into Agora Data’s groundbreaking
crowdsourced securitization, AgoraCapital.
The formation of AgoraCredit happens
on the heels of Agora Data’s announcement of the first-ever crowdsourced auto
securitization that closed on December 29, 2020. That securitization gave Buy
Here Pay Here dealers and subprime originators of all sizes access to the capital
markets with lower cost of funds and other business transformation benefits.
AgoraCredit works in partnership with AgoraCapital rather than in competition
with it and removes barriers for auto dealers and small to mid-size finance
companies to graduate directly into this new source of funding that has never
been available to the auto industry.
Closing the first
crowdsourced securitization at the end of 2020 was a monumental achievement for
the auto industry. We showed proof of concept for a business model that brings
favorable financing terms to an underserved group of entrepreneurs,” said Steve
Burke, CEO, Agora Data, Inc. “With AgoraCredit, we made another addition to our
suite of already game-changing capabilities. AgoraCredit will make the process
even easier for more dealers and finance companies to access capital.”
As the leaders in auto finance
innovation, Agora Data created AgoraCredit to continue its mission of bringing
affordable financing and other solutions to originators so they can provide
better and more cost saving options to consumers. This new approach and funding
channel are revolutionary in auto finance and helps subprime entrepreneurs
across the United States maximize their success.
About
Agora Data, Inc: Agora Data has created access
to capital for Buy Here Pay Here dealers and small to mid-sized finance
companies. Pioneered by Agora Data, both AgoraCapital and AgoraCredit provide a
new funding channel to obtain all the cash needed to fuel growth. Agora’s
proprietary radical AI-infused technology connects dealers and finance
companies with the capital markets. For capital markets stakeholders,
AgoraTrade and AgoraCapital provide an opportunity to participate in a
time-tested asset class previously not available. Agora Data made history with
the closing of the first-ever Crowdsourced Subprime Auto Securitization on
December 29, 2020. Founded in 2017. agoradata.com. For more information, contact Agora Data
at 877-592-4672.
Media Contact:
Shelly Vandeven
682-282-4130
media@agoradata.com