NEW YORK— Octane® (Octane Lending, Inc.), the fintech company unlocking the power of financial products for retailers and consumers, and Huntington National Bank (Huntington), an industry leader in vehicle finance solutions, announced a new strategic relationship with Scag Power Equipment, makers of commercial and residential mowing, debris/turf management, and compact construction equipment, to streamline the purchase of Scag outdoor power equipment (OPE).
With the Huntington Bank Powered by Octane program, Scag dealerships can manage the entire sales and financing process through a single platform. This simplified financing process benefits both dealers and customers from prequalification through closing. Qualified applicants will receive prime financing offers through Huntington and near-prime financing offers through Octane's in-house lender, Roadrunner Financial, Inc.
"We're proud to team up with Huntington and Scag to bring fast, easy, full-spectrum financing to more OPE dealers and customers," said Jon Vestal, EVP and General Manager of Recreational Lending at Octane. "This collaboration helps to fuel our expansion in the OPE market and deliver on our mission to unlock the power of financial products for retailers and consumers."
"Our work with Octane continues to strengthen how we serve dealers at the point of sale," said Tim Skinner, Managing Director of Consumer Lending at Huntington. "Bringing Scag into the program further expands our reach in the outdoor power equipment market and reinforces our commitment to delivering fast, flexible financing solutions that support dealers and customers alike."
The Huntington Bank Powered by Octane Dealer Portal uses the same technology as Octane's innovative dealer portal, and delivers short and simple loan applications, near instant credit decisions, and a streamlined way to manage loan terms and documentation. Dealers can customize terms, manage workflows with user-friendly navigation, and move customers seamlessly and quickly through the financing process.
"At Scag, we're committed to providing our dealers with the tools and resources they need to best serve their customers," said Bruce Medd, Director of Finance at Scag Power Equipment. "Our relationship with Huntington and Octane adds another financing option that helps simplify the purchasing process while supporting the premium buying experience our customers have come to expect from Scag."
