Finio, Inc., a digital lending platform, has integrated its instant credit approval process with Cycle Trader and ATV Trader online marketplaces, enabling customers to secure financing offers from FreedomRoad Financial, a division of Old Second National Bank, within minutes.This integration allows customers shopping for motorcycles and ATVs on CycleTrader.com and ATvTrader.com to apply for financing directly on the platforms and receive credit offers securely.Troy Snyder, Vice President of Digital Retailing and Private Marketplace at Trader Interactive, stated that enabling instant credit approval at the point of shopping enhances customer value. Darin Campbell, President of National Specialty Lending at Old Second National Bank, noted that the partnership provides dealers and the bank with early access to high-intent buyers, allowing customers to arrive at showrooms with pre-approved credit, which can facilitate quicker deal closures for dealers.Finio’s credit discovery tools include a two-step prequalification process and a full credit application. Online shoppers can opt for prequalification through a soft credit pull, which does not negatively affect their credit score. Alternatively, buyers can obtain firm credit offers from lenders affiliated with the selling dealership. Mr. Snyder added that this not only serves vehicle buyers but also creates value for dealer partners by providing enriched leads that are pre-screened for finance-ability.Finio estimates that 70% to 80% of motorcycle and powersports retail sales require financing. The Finio platform aims to unlock incremental sales opportunities by streamlining the credit approval process with digital retailing and lending tools. Nick Stellman, Chief Operating Officer at Finio, explained that the powersports finance experience has traditionally been fragmented, often requiring customers and dealers to complete multiple forms for a single approval. Finio’s objective is to eliminate this redundancy through a consolidated, user-friendly process.Finio also provides prequalification and credit approval tools directly to manufacturers and dealerships, allowing them to install these features on their own websites, configured to their specific brand and business needs.Cycle Trader and ATV Trader are part of Trader Interactive’s portfolio of marketplaces for buying, selling, and financing powersports vehicles, which includes PWC Trader and Snowmobile Trader. With nearly 6 million monthly visitors, Cycle Trader and ATV Trader connect powersports buyers and sellers by offering dealers and manufacturers comprehensive listing packages and advertising products.FreedomRoad Financial and Performance Finance operate national powersports lending businesses as divisions of Old Second National Bank. They provide retail loans exclusively through authorized OEM and dealer partners. Old Second Bancorp, Inc. is a national banking association headquartered in Aurora, Illinois, and is the bank holding company for Old Second National Bank, which operates 56 banking offices in Illinois.Finio, Inc., based in Irvine, California, is a credit aggregation platform for industries including powersports, motorcycle, marine, recreation, and commercial vehicles. Its sales and F&I platform facilitates digital retailing and lending processes between dealerships, manufacturers, lenders, and customers.