LoanStreet Inc., a leading technology provider for loan trading, reporting, analysis and servicing, announced the launch of a powersports participation program made available through a collaboration with Georgia’s Own and Octane Lending, Inc.®, (Octane®), the fintech revolutionizing the buying experience for major recreational purchases.
“Georgia’s Own is proud to partner with Octane to deliver powersports participations to credit unions across the country. We believe that diversification across asset classes and partnering with best in class originators like Octane is critical to a well-functioning balance sheet,” said Christin Hewitt, CFO of Georgia’s Own.
“At Octane, we strive to partner with forward thinking, innovative financial institutions like Georgia’s Own to unlock the power of financial products for retailers and consumers,” said Jason Guss, CEO of Octane. “Our seamless, full-spectrum financing experience makes buying better for dealers, OEMs, and consumers while delivering strong, stable credit performance.”
“Ultimately, LoanStreet can deliver the broadest participation marketplace to facilitate balance sheet management to credit unions while enabling better financing solutions for consumers across any asset class. We are proud to support innovative partners as they deliver best in class financial services across the US,” said Ian Lampl, CEO of LoanStreet.
This transaction follows a forward-flow partnership, facilitated by LoanStreet, through which Georgia’s Own purchases high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial®, Inc. that are aligned with Georgia’s Own’s risk criteria.
Although the first transaction is now closed, credit unions will have the opportunity to participate in future powersports whole loan sales through this partnership. Interested parties should contact LoanStreet, Octane, or Georgia’s Own to learn more.
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