ARLINGTON, Texas -

Perhaps triggered by the college basketball tournaments near their climax and Major League Baseball getting set for its season, Agora Data has outlined a competition where buy-here, pay-here could land $1,000.

According to a news release, Agora Data issued a challenge to commercial lenders providing credit lines to BHPH dealers. The challenge consists of a checklist for BHPH dealers and smaller finance companies to compare their current line of credit to AgoraCapital.

If a dealer can get its lender to match all the terms of AgoraCapital, Agora Data said it will offer its congratulations and send the dealer a check for $1,000.

The company explained specifics for the Agora Lender Challenge include lowering current interest rates, eliminating monthly borrowing base true-ups, removing burdensome financial restrictions and obtaining a wealth of services (free of charge) to help support and plan for growth.

After taking the Agora Lender Challenge, dealers are encouraged to contact Agora Data and explore all financing options that best align with their business and personal goals.

Dealers can find the Agora Lender Challenge details and checklist at www.agoralenderchallenge.com.

The company also mentioned dealers in good standing with their current lender are automatically eligible to refinance their line of credit with AgoraCapital at a reduced interest rate and receive a commitment to triple their borrowing capacity.

New dealers wanting to accelerate their portfolio can get started with various robust and low-cost financing options, according to Agora Data.

“Agora Data is changing the dynamic between dealers and lenders and issuing a challenge that gives dealers the power to identify the best financing options that support business goals and needs,” Agora Data chief executive officer Steve Burke said in the news release.

“The market has known for some time that financing innovation for BHPH dealers is long overdue, and with our AgoraCapital program, we have successfully removed the obstacles that previously hampered growth and profitability,” Burke continued.

“Agora Data is addressing barriers by providing BHPH dealers access to capital markets to help fuel their growth,” Burke went on to say. “Dealers to stop working for your lenders and start working for yourself.”

The Agora Lender Challenge follows Agora Data’s successful execution of what it believes to be the industry’s first-ever crowdsourced auto loan securitization on Dec. 29.

In addition, Agora Data recently announced its latest product offering, AgoraCredit, which is designed to transition dealers from their current senior lender into interim credit lines that work in harmony with the AgoraCapital securitization program.

Beyond access to AgoraCredit and AgoraCapital, Agora Data members connected to the platform also can receive free of charge additional insights and analytics to better understand their portfolio’s performance enabling dealers to make more informed business decisions as well as numerous other tools and services to help ensure success.

For more information, contact Agora Data at (877) 592-4672 or agoradata.com.