NextLot, a provider of privately branded online auction solutions for auctioneers, launched an integration with Currency, an online transaction empowerment company. Through Currency’s Express Finance decisioning engine, NextLot can now help auction buyers get instantly approved for a loan and receive funds same day.

Currency launched Express Finance in 2014 to equipment buyers with the sole intent of expediting the end-to-end lending process with instant approvals — a significant improvement on the 10 to 15 days it typically takes to get bank approval. Since launching Express, Currency has helped businesses secure over $1 billion in loans. Now, Currency is making it possible for auction bidders to get the funds almost as fast.

Bidders can view an auction catalog on NextLot, click a finance link, get approved and funded same day.

Through its partnership with Currency, NextLot will provide auction buyers with instant access to capital — allowing buyers to bid confidently for the items on the auction block. Naturally, this should result in higher strike prices and increased proceeds for auctioneers, fulfilling NextLot’s mission of “more bids and higher prices.” Future integration activities include the deployment of CurrencyPay at checkout.

The CurrencyPay payment platform unlocks buying and selling with tailored payment options like credit/debit cards, ACH and integrated Finance. It also streamlines the transaction with options like escrow, inspection, shipping and warranty all in all bringing cutting edge payment technology to NextLot and NextLot Clients.

Scott Finkelstein, CEO of NextLot, said this about the integration: “NextLot is extremely excited to launch its integration with Currency, a true disruptor in the equipment finance industry with cutting-edge technology, and easier access to capital. We believe strongly that buyers are going to love Express Finance and its ability to deliver more qualified bidders with money to spend at every auction.”