Financed.com, a new online platform that connects borrowers and consumers, facilitated its first auto loan this month, Managing Director Andrew Hagstrom told AFN, and is targeting consumers with less-than-perfect credit scores. Its aim is to bring those stuck in the trenches of bad-credit-squalor go over the top and enter the free market economy fray, sans the rub of third party illegitimacy.
“We work with many subprime lenders willing to lend deep to subprime customers,” Hagstrom said. “And we leverage this to help those who can’t get a loan.” The Las Vegas-based company intends to make more agreements with major banks to expand its reach into the remaining areas of the American Southwest.
“We are increasing our network of dealers, and leveraging relationships with banks we already have to move into other states, as well as leveraging these connections to grow our inventory,” Hagstrom said. “We advertise locally, but will move to the national scale soon.” Many consumers with low credit have a hard time seeing a way out, he said, “but a great way to improve credit is actually with an auto loan,” Hagstrom added.
