Mon Jan 13, 2020 6:06am EST

CALGARY, Jan. 13, 2020 /CNW/ - LendingArch, Canada's fastest growing rate comparison platform, announced today the launch of its specialized consultancy division, working directly with car dealerships to establish subprime financing divisions. The new division will aid in diversifying the profitability of car dealerships that currently focus on solely prime customers.

LA Logo (CNW Group/LendingArch)

"A difficult economy means more subprime credit scores and larger debt loads for Canadian consumers," said Paul Hadzoglou, President of LendingArch.  "However, Canadians still need vehicles, and many existing dealerships do not have established subprime divisions. Our new consultancy department will mean more Canadians will be able to obtain vehicles, regardless of their credit score."

LendingArch's network of banks, lenders and car dealerships throughout the country will benefit from the development of the new division. Through its expertise, LendingArch will be advising dealerships on how best to work with subprime lenders, obtain subprime clients, and train sales people in the handling of a subprime auto loan application.

In addition to the new consultancy department, LendingArch  will remain focused on increasing its technology base and expanding its services to all B2B partners, providing top in class processes and services.  

LendingArch currently has over 200,000 customers, with more than 10,000 new customers signing up on a monthly basis.

About LendingArch

LendingArch is an online platform that helps Canadians find and compare rates for everything from personal loans to credit cards to auto loans. LendingArch combines expert advice and the best financial tools, empowering its customers to make the smartest financial decisions.
https://lendingarch.com  or contact media@lendingarch.com 

SOURCE LendingArch