Online Fintech lender, LendingArch announced the signing of a major deal with a Lending Institution to provide Personal Loans to Canadians Nationwide and announced the signing of their 500th Car Dealership in Canada to provide real time, Auto Loan leads.
Paul Hadzoglou, president of LendingArch said, “We are pleased to announce our continued growth throughout North America in both the Auto Loan and Personal Loan market sectors. We have developed tools for the United States markets to quote real time financial rates to consumers and have recently signed a major deal with one of Canada’s largest Institutional Lenders to provide Personal Loans to Canadians through LendingArch, direct to consumers Nationwide.”
“Our Auto Loan division in particular has seen tremendous growth, based on the results we are seeing from our consumer leads to dealerships throughout Canada. Car dealerships have seen eight per cent, nine per cent even as high as 12 per cent + conversion rates on our leads on average, with some dealerships posting above 20 per cent conversions based on their location in Canada. These numbers are helping our dealerships flourish in this environment, even as inventory tightens up, we are seeing a steady increase for the need for our Auto Leads.”