Octane Lending @octane-lending

Startup, New York, NY – 1/10/2017 employees

Octane Lending is a point of sales financing platform that connects salesmen (anything from boats to furniture) to apply for financing from more lenders and insurance providers more quickly for their customers than existing legacy systems. Since each of these consumer loan applications incurs a separate hard credit pull, salesmen typically apply one-by-one to as few lenders as possible through either existing platforms (e.g., Dealertrack) or each lender’s separate portal. This system wastes time, provides suboptimal approval rates, and results in lenders competing over a subset of total loans. We designed a product that avoids multiple hard credit pulls, thereby enabling salesmen to apply to multiple financing sources simultaneously and allowing lenders to compete over more loans.