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Beyond that, however, it is a high-transaction business that requires responsiveness and coverage outside of standard business hours.

вЂњThe business development and product aspects are critical for credit unions to succeed in this market. CUDC provides lenders with flexible outsourced lending solutions that meet shifting demands, complement existing capabilities, and redirect resources to pursue new opportunities for loan growth. вЂњAs we continue to explore new ways to reach and serve credit unions and their members,В we are excited toВ announceВ the next evolution in point-of-sale financing throughВ our collaboration with LoanStar,вЂќ said Brian Hendricks, Chief Product Officer for CU Direct.ДЄs part of the joint venture, CU Direct Connect (CUDC), a subsidiary of CU Direct, will be LoanStarвЂ™s exclusive BPO, providing outsourced processing and underwriting services for retail merchant financing. Most notably, LoanStar provides crucial business development support to help ensure lender success.ДЄndrew Turner, CEO of LoanStar shared, вЂњWe are excited to partner with such a well-known organization like Origence to help their lending partners diversify their portfolios while offering their members a new ability to borrow at the point-of-sale.вЂќ

#Loanstar bolingbrook how to#

The company offers a wide range of flexible and competitive financing options, and provides consultation on how to win market-share. Through its MerchantLinQ portal, LoanStar provides a world-class system that is fullyВ branded for its credit unions. Through this new partnership, credit unions will have the ability to capture loans at the point of sale, when and where members make large purchases. Irvine, CA вЂ“ NovemвЂ“ Origence, a CU Direct brand, and the leader in lending technology solutions has announced an exclusive partnership with LoanStar Technologies to provide retail merchant financing to credit unions.ДЄs a result of the partnership, LoanStar will provide Origence credit unions with vital B2B support to connect with merchants, which has historically been a challenge for credit unions.