Octane, Huntington launch finance platform for outdoor power equipment

Fintech company Octane Lending and Huntington Bank have partnered to accelerate and simplify financing for OEMs, dealers and customers in the outdoor power equipment market.

The partnership combines Huntington’s prime financing with Octane’s near-prime options through its in-house lender, Roadrunner Financial, giving select mower and outdoor power OEMs a single platform to support dealer networks and serve customers across the credit spectrum, according to an Octane release today. Dealers and buyers stand to benefit from promotional programs and an instant digital lending process, the release states.

Dealers can integrate Octane’s soft-pull prequalification tools into their CRM systems and marketing channels to reach more qualified buyers and speed up sales. Through Octane’s updated dealer portal, dealers can view all available financing options, tailor deal terms and move from prequalification to closing in one workflow. Customers can use digital tools to assess their buying power, submit documents ahead of time and access servicing throughout the life of their loan.

“We’re thrilled to collaborate with Huntington to support [outdoor power] OEMs and dealers with cutting-edge technology and faster, easier and more accessible financing experience,” Jon Vestal, executive vice president and general manager of recreational lending at Octane, stated in the release. “Together, we’re providing an end-to-end solution that will help OPE OEMs and dealerships across the country reach more buyers and increase profitability.”

Register here for the free Equipment Finance News webinar “Tech-driven risk management: How innovation is reshaping equipment finance” set for Tuesday, Dec. 9, at 11 a.m. ET.