LoanStreet Partners with Octane and Georgia's Own to Boost Powersports Financing Opportunities

Innovative Financing for Powersports



In a strategic move to expand access to the powersports asset class, LoanStreet Inc. has announced a groundbreaking collaboration with Octane Lending Inc. and Georgia's Own. This partnership aims to facilitate a more efficient financing program for credit unions looking to diversify their loan portfolios. As interest in recreational vehicles continues to surge, fostering financial innovation in this sector is timely and essential.

LoanStreet, recognized as a key technology provider in loan trading, reporting, and servicing, is leveraging its platform to create a comprehensive powersports participation program. This initiative promises to enhance balance sheets for credit unions while simultaneously providing consumers with more accessible financing solutions for vehicles like motorcycles, ATVs, and personal watercraft.

The Key Players


Georgia's Own is at the forefront of this collaboration, taking a proactive approach towards enhancing the accessibility of powersports loans. Christin Hewitt, CFO of Georgia's Own, articulated the organization's commitment to diversifying its offerings by aligning with top-tier originators like Octane. By doing so, credit unions can access high-quality, fixed-rate installment loans that fit their risk criteria, thereby optimizing their financial profiles.

Octane Lending has established itself as a pioneer in transforming the buying experience for major recreational purchases. CEO Jason Guss emphasized the importance of partnering with innovative financial institutions to drive consumer engagement and facilitate seamless transactions. Octane's robust technology platform not only accelerates the loan approval process but also engages customers from pre-qualification to purchase—a vital aspect of enhancing customer satisfaction.

How It Works


The partnership launched a forward-flow arrangement through which Georgia's Own can now acquire installment loans originated by Octane's in-house lending division, Roadrunner Financial. This model allows for the acquisition of high-quality loans tailored to the needs of Georgia's Own while ensuring that credit unions can offer competitive financing solutions.

Even with the first transaction already completed, this collaboration opens doors for future powersports whole loan sales, encouraging credit unions to explore new avenues in lending and diversifying their portfolios beyond traditional assets. Interested credit unions can engage directly with LoanStreet, Octane, or Georgia's Own to delve deeper into these offerings.

The Future of Powersports Financing


As consumer demand for recreational vehicles continues to rise, the collaboration between LoanStreet, Octane, and Georgia's Own is poised to set a new standard in the powersports financing landscape. This initiative stands as a testament to the importance of innovation in finance as it seeks to empower both lenders and borrowers. Credit unions can leverage these enhanced options to not only improve their offerings but also contribute to a vibrant recreational economy.

LoanStreet's CEO Ian Lampl highlighted the company’s commitment to expanding its marketplace for credit unions, promoting responsible lending practices while supporting innovative partners in delivering high-quality financial services across the U.S.

In summary, this partnership exemplifies how the convergence of technology and finance can create unique opportunities for credit unions, allowing them to better serve their members while successfully tapping into the growing powersports asset class. The future looks bright for consumers eager to engage with outdoor and recreational vehicles thanks to these advancements in financing solutions.

About LoanStreet, Octane, and Georgia's Own


LoanStreet is a financial technology firm dedicated to optimizing balance sheets for lenders through sophisticated loan management. With over 1,300 institutions benefiting from its solutions, the company is at the forefront of modernizing loan offerings.

Octane is redefining the landscape of recreational purchasing through its innovative technology that simplifies the financing process, ensuring that consumers can enjoy their passions without the usual financial hurdles.

Georgia's Own, a prominent player in the credit union sector, is dedicated to providing tailored financial solutions, ensuring that members receive the best possible service and opportunities to grow their investments. Through this partnership, they continue to exemplify leadership in the industry, setting a high bar for others to follow.

Topics Financial Services & Investing)

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