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Firm Helps Dealers Seek Loans

By Staff Writer April 13, 2020 1010

DealerSocket Inc. is launching a free, web-based application called the Dealership Loan Navigator to help dealerships navigate the complex process of applying for financial assistance through the CARES Act. Created in partnership with DealerSocket’s sister company Quick Base, the Dealership Loan Navigator guides dealers through a series of questions and then determines eligibility for financial assistance for various CARES Act loans, including the Paycheck Protection Program (PPP). The Navigator then populates the application into a PDF form, which dealers can download and send to their banks to apply for financial assistance.


“Dealers across the automotive retail industry are trying to understand the complex process of applying for financial assistance as part of the CARES Act. We want to help simplify the process through technology,” said Sejal Pietrzak, CEO of DealerSocket.


DealerSocket also announced it was slashing its April bills by up to 50 percent for their software. It is offering several products for free for a period of time, including its digital retailing software PrecisePrice, its Test Drive Delivery Scheduler in DealerFire, SocketCredit in its CRM, and the newly launched Absolute Sourcing and New Car Pricing modules in its Inventory+ product.

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Last modified on Tuesday, 14 April 2020 14:50