Dealership Loan Navigator helps simplify the process of applying for funding

DealerSocket, Inc. is launching an easy-to-use, 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. “As a result, DealerSocket is partnering with Quick Base to launch the Dealership Loan Navigator that offers a simple, easy-to-use application to navigate the loan and financial assistance application process. Our focus has always been dealer-first, and this is one of several ways we are helping to support dealers during this challenging period.”

Filling out the Dealership Loan Navigator is easy. Dealers simply visit www.dealersocket.com on their mobile device or desktop and answer questions from the Small Business Administration within the Dealership Loan Navigator online. The Navigator determines which financial assistance the dealership is eligible for, including various loans and the PPP. The Navigator then populates the application into a PDF which the dealer can then download and submit to a financial institution.

The Dealership Loan Navigator is just one-way DealerSocket is helping auto dealers during the COVID-19 pandemic. DealerSocket also announced they were slashing their April bills by up to 50% for their software. They are offering several products for free for a period of time, including their digital retailing software PrecisePrice, their Test Drive Delivery Scheduler in DealerFire, SocketCredit in their CRM, and the newly launched Absolute Sourcing and New Car Pricing modules in their Inventory+ product.

“DealerSocket focuses on being the trusted advisor for our dealers, and we are here to support them during this pandemic. As I’ve said, we will get through this, and we will get through this together with our dealers,” continued Pietrzak.

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