ROADRUNNER FINANCIAL SECURES OVER 18 PARTNERS IN THE OUTDOOR POWER EQUIPMENT INDUSTRY
Apr. 8, 2019
Source: Roadrunner Financial news release
New York, New York -- Roadrunner Financial powers into the 2019 mower season with over 18+ key partnerships, tripling its footprint within the outdoor power equipment consumer retail space.
In early 2018, Roadrunner launched into outdoor power equipment with 3 key partnerships, Bad Boy Mowers, Spartan, Dixie Chopper and in just over a year, they've grown their network to 18+ OEM partners including AriensCo, Hustler Turf Equipment, Toro and Exmark, to name a few. The new partnerships represent a network of over 11,000 dealers and 85% of the consumer zero-turn market.
Roadrunner's rapid growth proves the success of meeting industry demand for a credit building financing option - providing partners and dealers with a previously untapped customer base.
"We are thrilled to see great success in our first year," said Jason Guss, CEO of Roadrunner Financial. "Dealers are the backbone of our business, and Roadrunner's commitment to helping them finance more customers with ease is evident in the growth we've experienced this past year. We look forward to continually expanding our credit offerings, and providing Outdoor Power Equipment dealerships with credit products they care about- we're just getting started."
Before Roadrunner, the main option for customers building credit were local financing institutions with slow processes and a disjointed retail experience. "Roadrunner's financing sweet-spot for credit builders or near-prime customers is around a 580 - 700 FICO", explains Jon Vestal, vice president of outdoor power equipment for Roadrunner.
"The process of financing these customers building or rebuilding credit can be difficult, and often, they're just shy of a prime approval." Instead, Roadrunner dealers can finance this declined population, in-house, within as little as a few minutes.