LendingArch continues to expand its car dealership and online Fintech lending business across North America.
The Canadian technology company has reported that it signed a major deal with a lending institution to provide personal loans to Canadians, as well as signing its 500th car dealership in Canada.
"Canada has a lack of options to allow for consumers to apply for loans through a digital process without having to step foot in a bank, lender or brick-and-mortar storefront,” Paul Hadzoglou, president of LendingArch, told Cision PR Newswire. “This is a digital, seamless service that needs to be improved in Canada and brought to the forefront of Fintech, so that consumers don't need to go through the time, effort and headaches caused by getting rejected for financing after the fact. That is what our platform does; it solves that issue and saves time and money for the consumer."
Consumers can use LendingArch's platform to get preapproved for an auto loan.
According to the lender, once people have been preapproved, they are matched with a dealership that fits their needs and requirements and would usually be able to purchase a new or used car within days of applying on the platform.
LendingArch is proud to be Canada's fourth-fastest-growing technology company, which is constantly moving forward in the auto loan and personal loan market sectors within Canada since it opened in 2015.
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