Agora Data recently rolled out another tool for buy-here, pay-here dealers to get the financial resources they need to compete with well-capitalized competitors.

The company that previously launched the first crowdsourced securitization for the BHPH industry recently launches another financing innovation with what Agora Data said is first-ever reducing interest rate line of credit.

Agora Data explained this new product offers unlimited borrowing capacity, the lowest interest rates and the highest advances. The company also said the product provides BHPH dealers and small to mid-size finance companies the ability to exponentially grow and compete.

The company said its “game-changing approach” to funding addresses an immediate need in the marketplace and allows entrepreneurs to access the same borrowing advantages as “mega-sized” dealers.

Agora Data acknowledged the BHPH operators have traditionally struggled to obtain capital at affordable interest rates.

With AgoraCapital’s reducing rate line of credit, dealers can benefit from the interest savings and generous advances as soon as approved. Over time, interest rates decrease while other advantages increase, such as no personal guaranty or recourse, flexibility to draw cash as needed as well as no origination or unused line fees.

AgoraCapital is designed to support revenue-generating functions and empower dealers to better manage their portfolios, operate with confidence, and gain market share.

“Agora is already making a positive difference for the BHPH industry by helping our members strengthen their financial footing and realize unprecedented growth, knowledge, ability to compete and ultimately build wealth,” Agora Data chief executive officer Steve Burke said in a news release.

“With AgoraCapital, we remove the obstacles dealers confront in traditional lines of credit and empower them with the same secret sauce enjoyed by larger national dealer groups,” Burke continued. “Agora’s innovative, best-in-class financing options and robust data analytics is leveling the playing field for an underserved and underbanked industry.”

For more information, visit agoradata.com or call (877) 592-4672.