The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Jul 19, 2017
Lacey, Wash. - LoanStar Technologies has deployed version 3.0 of the MerchantLinQ platform. This major release enables credit unions and community banks to deploy vehicle programs in Marine, RV and Powersports, by connecting directly to borrowers through dealers. Additionally, the MerchantLinQ platform is now fully integrated to the MeridianLink® LoansPQ® loan origination system.
LoanStar member lenders are now able to compete in many reportedly underserved verticals, including recreational vehicles, boats, powersports and equipment, which provide higher yields than indirect auto loans. The MerchantLinQ platform connects lenders to dealers in their regional markets. Local service with cutting edge, easy to use technology are a winning combination for both the dealer and the local financial institution.
Andrew Turner, CEO of LoanStar Technologies, says, "The addition of non-auto vehicle verticals allows our lenders the option of more diversity in their lending offering, while giving the dealers a toolset unavailable today through their existing providers. Our goal is to allow community banks and credit unions to provide a best-in-class toolset to the dealers, offering financing options to their customers, and ultimately simplifying their marketing initiatives and transaction flow. Partnering with TwinStar on our non-vehicle launch has been a perfect fit for our dealers in both technology and service."
TwinStar Credit Union of Lacey, Washington, has launched the non-auto verticals in both Washington and Oregon.
Aaron Palmer, Chief Lending Officer of TwinStar CU, says: "We are excited to expand our point-of-sale lending programs via our partnership with LoanStar. The company provides a unique combination of product and market knowledge along with advanced technology that provides a superior lending experience for the business and the borrower. This is a game changer for us."