Northteq, a fintech specializing in automated loan originations, helped LBX Capital supersize its equipment finance portfolio in December.
LBX Capital, the financing arm of heavy-equipment manufacturer LBX Company, reported a 311% increase in financed units, a 264% rise in applications and a 275% increase in contracts year over year in December, Northteq announced in a Feb. 10 release.
The surge in equipment financing was attributed to Northteq’s Aurora platform. By automating credit approvals, Aurora eliminated inefficiencies such as email-based dealer communications, reducing approval times from hours to minutes. This streamlined approach allowed LBX Capital to handle a significantly higher volume of transactions without adding personnel.
“Implementing Aurora saved us time and allowed us to manage more business in a short timeframe without delays for our dealers,” LBX Capital General Manager Tim Logan stated in the release.
Looking ahead, LBX Capital plans to expand its dealer network throughout 2025 while developing a dedicated dealer portal to enhance security and streamline application tracking, according to Northteq’s release.
The third annual Equipment Finance Connect at the JW Marriott Nashville on May 14-15, 2025, is the only event for both equipment dealers and finance providers. Learn more and register here.
