Credit unions can purchase powersports loans through a forward-flow agreement between Georgia’s Own Credit Union and Octane, facilitated by loan sales and management fintech LoanStreet.
The program, announced June 26, allows credit unions to participate in whole loan sales between Georgia’s Own and Octane on the heels of an evergreen forward-flow agreement established in January.
After Atlanta-based Georgia’s Own purchases Octane loans, other credit unions can purchase portions of those loans from Georgia’s Own.
Georgia’s Own on Jan. 29 purchased $37 million in Octane loans underwritten to its risk criteria; eight credit unions bought portions of the loans in June, LoanStreet Chief Executive Ian Lampl told Auto Finance News.
Diversifying through powersports
The program allows credit unions to diversify their portfolio through powersports loans, he said.
“Credit unions are historically very big auto lenders … Powersports is one [segment] that many credit unions know fits between two loan products that they already have and is either a natural extension of their auto program, their unsecured program or both.” – Ian Lampl, LoanStreet CEO
By participating, credit unions can become more familiar with the segment and create powersports policies, he said.
Octane, which has closed four loan deals in 2025, has noted an increase in demand
“across the private credit universe,” Nicholas Makarov, SVP of capital markets at Octane, told AFN.
The Georgia’s Own deal helps promote Octane, even it the company doesn’t gain additional revenue, he said.
“We greatly appreciate additional investors getting further familiarity with Octane and our asset class,” he said.
The program gives credit unions a more streamlined option for accessing Octane’s assets, he added.
Georgia’s Own is expected to purchase nearly $100 million in Octane’s loans in 2025, with the forward-flow agreement structured to remain in place for as long as both lenders agree to it, Octane President and Chief Financial Officer Steven Fernald previously told AFN.
The next purchase of Octane loans is expected to close in July, LoanStreet’s Lampl said.
This article was originally published by Auto Finance News. Read the full story here.
