Before the birth of the LoanPro brand, our founders were working six days a week selling and financing used cars. Unlike most buy-here-pay-here type lenders, they were unsatisfied with the inaccuracy and lack of transparency that most lending platforms offered.
Eventually, LoanPro’s founders decided to create their own lending application that would better meet the needs of their small lending company. The software they created met their needs so well, other auto lenders started to request access to the new platform. It soon became clear that each lender did things somewhat differently.
To accommodate different lending styles, a new version of the original, in-house application was created and maketed under the AutoPal name. AutoPal was designed with a structure that was similar to the other available auto-lending applications. Because AutoPal was more configurable and accurate than its competitors, it drew the interest of non-auto lenders.
AutoPal was subsequently expanded to be able to handle loans of most types. Hosting was moved from a dedicated server at a local company to Amazon Web Services. This provided more scalability and allowed AutoPal to take on new clients who requested more and more new features to better accommodate non-auto loans. AutoPal became extremely popular with clients in all 50 US states and every province in Canada.
2013 - Present
While demand for AutoPal grew, requested features became more and more difficult to develop with AutoPal’s restrictive architecture. Our founders decided to start from scratch and build an application designed from day one to accommodate multiple loan types. LoanPro Software was built with a fundamentally different approach that guaranteed a full-featured API, a better strategy for separation and management of data and better use of available technologies.
LoanPro was originally marketed to all non-auto lenders as a better way to manage their loans. Because of LoanPro’s feature set and the ability to integrate with existing platforms, it began to draw larger and larger lenders.
At the end of 2017, it became clear that LoanPro should become fully enterprise ready. This included adding features that would help large groups of services accomplish their day-to-day tasks. But it also required that LoanPro obtain security certifications and implement processes and policies that would meet the corporate requirements of enterprise lenders.
Today, LoanPro is fully enterprise ready. We make it easy for large lenders to check due-diligence boxes, adopt LoanPro in operations, and scale the use of LoanPro to meet their needs.
LOANPRO WORKS WITH THESE GREAT PARTNER COMPANIES
Every member of our management team has worked directly in lending, and has been with LoanPro for over 7 years. As a team, we are constantly learning in order to increase our knowledge and ability.