This startup provides a platform that connects customers with approved automotive dealers to facilitate auto financing, enabling individuals to establish or rebuild their credit. By streamlining the lending process, the company addresses the challenge of access to credit for those with limited financial histories.
Funding
$29.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals with non-prime credit scores face difficulty securing auto loans, limiting their access to reliable transportation. Traditional lenders often have stringent requirements, making it challenging for those with past credit issues to obtain financing for vehicle purchases.
Solution
Strike Acceptance provides auto financing solutions for customers with non-prime credit, connecting them with a network of approved automotive dealers. The company's lending programs are designed to help customers establish or rebuild their credit by providing access to quality vehicles. Strike Acceptance leverages technology to streamline the loan approval and funding process, offering fast and efficient service to both dealers and customers. By focusing on non-prime credit, Strike Acceptance aims to provide a second chance for individuals to build a better financial future while enabling dealers to sell more vehicles.
Target Audience
The primary target audience includes automotive dealers seeking financing options for their non-prime customers and individuals with low credit scores looking to purchase a vehicle and rebuild their credit.
Features
- Loan amounts up to $35,000 with terms up to 72 months
- Accepts FICO scores as low as 500
- Minimum income requirement of $2,000 per month
- Accepts ITIN and Matricula identification
- Considers customers with recent bankruptcies and repossessions
- Offers same-day funding for dealers
- Application submission via Dealertrack, RouteOne, and the Strike Dealer Portal
- Discount fees starting as low as $195
- Financing options for commercial vehicles