Sparta Commercial Services, Inc. and netLoan Funding, LLC say they have completed the technology interface required to move forward with their strategic alliance.
netLoan manages a consortium of specialty lenders through its operation of a multi-asset finance portal that is linked to internet auction and sale websites.
Sparta's financing and leasing products will now appear as a funding option on the netLoan Funding platform. Accordingly, consumers interested in obtaining a secured loan or lease for the purchase of motorcycles, ATVs, and scooters will be routed through the netLoan Funding website to Sparta's online credit application, where their application will be automatically decided upon by Sparta's iPLUS system and, subject to credit approval, will be able to obtain a loan or lease commitment from Sparta.
Although the agreement between Sparta and netLoan was concluded in May, the required interface between the IT platforms of the two companies was accomplished in September, followed by several weeks of beta testing.
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