Cadence, a leader in the digital securitization of alternative investments, is partnering with ThunderRoad Financial to expand its offering of investment products.
Cadence is pleased to announce a strategic partnership with ThunderRoad Financial. As an alternative investment platform, Cadence continues to work with only the highest-quality borrowers in the specialty finance industry. By establishing a robust network of top-tier borrowers, Cadence is actively expanding its offerings of short duration investment products to retail and institutional investors, while providing growth capital to its origination partners.
Based in Reno, Nevada, ThunderRoad Financial is a market leader in the powersports financing industry. It serves as a financial partner to powersports dealers, extending credit to their loyal customers. Their loan products provide customers with streamlined financing options in conjunction with their purchase of powersports vehicles ranging from motorcycles, UTVs, ATVs and PWC.
ThunderRoad Financial has originated over 20,000 loans since it was founded in 2014. The company has upheld rigorous underwriting standards over this time and is driven by an experienced management team with extensive credit and legal backgrounds within the industry. Their underwriting process tiers borrowers based on a variety of factors such as credit scores and debt-to-income ratios, in addition to non-traditional factors such as borrower child support payments and rent-to-own or lease commitments for a truly broad review. ThunderRoad Financial’s prudent risk management standards, deep industry expertise and measured growth aspirations were all factors in crystalizing this partnership.
Prath Reddy, Cadence’s Head of Capital Markets, explained the significance of the partnership to the success of both ThunderRoad Financial and Cadence. “ThunderRoad Financial is seeking to leverage its reputation and experience in the powersports finance industry to grow its origination volumes without sacrificing quality. At Cadence, we are excited to be a part of this growth story and showcase our unique value-proposition in a new market segment,” Prath said.
ThunderRoad Financial operates within a $10 billion and growing powersports industry and is very well positioned to continue growing its market share. ThunderRoad is quite unique in the niche it has carved out.
Donal Hummer, Jr, ThunderRoad’s President and CEO explains, “We provide financing across all credit tiers, and all manufacturers, both new and used. Our partner dealerships know that when a customer comes in the door, regardless of what he or she ends up buying, we can finance it. It makes us the fast and efficient choice. Partnering up with Cadence, allows us to expand our program, volume and reach across the country. It is a win win win for everyone!”
Cadence is thrilled to collaborate with ThunderRoad Financial to continue building an extensive network of borrowers around its alternative investment platform.
[This archived post was released at a time when Percent was formerly known as Cadence.]