How does the indirect lending process work for clients of Indirect Lending Services, LLC?
When a member applies for a loan at the dealer, the dealer’s finance representative submits the member’s application information on our secure website for processing. Using a risk-based evaluation model with thresholds predetermined by your credit union, the online software determines the applicant’s creditworthiness and returns a decision to the dealer. If the application is denied, the dealer is notified that the application has been sent to Indirect Lending Services, LLC. Our staff reviews the information and provides a final decision to the dealer, usually within 30 minutes during business hours. All of the information relating to the loan application is recorded and can be monitored by your credit union at any time.
