technology

Car Capital scores $150 million in backing for its instant car loan approval technology

A large New York private equity firm is providing a $150 million credit line over the next three years to a Grapevine startup that makes it easier for auto dealers to make instant vehicle loans, regardless of credit history.

Car Capital announced the “milestone transaction” Tuesday with affiliates of Fortress Investment Group. Fortress also is investing over $6 million in the company.

The equity and debt investments will let Car Capital fund more dealers and “underserved consumers” wanting to buy vehicles, according to the company. Its proprietary Dealer Electronic Auto Loan System allows dealerships to instantly approve 100% of customers.

“We are very pleased to partner with Fortress, [which] has a long history of providing capital to fintech and automotive companies,” Car Capital co-founder and CEO Justin Tisler said in a statement.

Fortress Investment Group, founded in 1998, had more than $54 billion in assets under management as of Sept.

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Car companies will soon be required to install drunk driving technology

Congress is hoping to mandate car manufacturers to implement drunk and impaired driving prevention technology as part of President Biden’s infrastructure plan.

Every day about 28 people in the U.S. die of drunk driving accidents, according to the National Highway Traffic Safety Administration (NHTSA). In 2019, a little over 10,000 Americans died from drunk-driving crashes.

The estimated economic cost for alcohol-impaired driving in 2010 was $44 billion.

Congress is trying to change those fatal statistics by imploring car manufacturers along with NHTSA to implement new driver safety standards. The legislation outlines what it would like new technology to look like, including passively monitoring the performance of a driver to identify whether or not they may be impaired. 

It also suggests preventing or limiting cars from operating if an impairment is detected and enabling cars to detect a driver’s blood alcohol concentration.


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Martin Technologies merges love of racing, cars with innovation and new technology

DETROIT (WXYZ) — August is National Black Business month, and to celebrate, each week on The Rebound Detroit, we’re introducing 7 Action News viewers to a thriving local Black-owned business.

From hospitality to beauty, home services and retail; all month long we’re shining a light on the struggles and the triumphs these businesses and their owners have seen over the last year and a half, and the impact they’re making on the community.

You’ve likely already seen the impact Martin Technologies and Martin Motorsports has had on classic and newer cars, perhaps without even knowing it.

Chairman and CEO Harold Martin runs a national and global leader in automotive innovation, and it all started on the race track.

“Racing for me actually started at childhood. My dad was involved as a hobby. And we did very well racing,” Martin told Action News at his Novi facility.

During the course of

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Computer And Technology Careers, Occupations And Employment Info

For example, firms hiring computer help specialists may settle for tech-savvy individuals with highschool diplomas or certificates. The 1900s welcomed the world of electronics, paving the greatest way for modern technology and computer degrees. In a digital world, technology affects quite a few industries, corresponding to agriculture, development, and retail, offering tens of millions Computer & Technology of jobs. A few tech subfields include cybersecurity, software program growth, and net design. This internship course explores careers and coaching in a supervised work setting. Combines concept with area experience for school students to realize enhancement of computer expertise through a computer-related job expertise.

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