LH-Finance, a marine finance company that works with consumers and dealerships, has partnered with technology provider White Clarke Group to expand its inventory finance business, the companies announced in a press release.
Also known as L’Hermione Finance, LH-Finance is the marine division of United Bank of Hartford, Conn. The lender provides retail solutions to consumers and wholesale financing for yacht manufacturers and their dealer network. LH-Finance has developed finance programs that include manufacturers such as Beneteau, Lagoon, Dufour Yachts, and Jeanneau.
In order to help support the growth of its inventory finance business, LH-Finance will utilize White Clark Group’s CALMS Compass Floorplan Finance Software. CALMS Compass supports floorplan business processes from initial credit review to full loan and portfolio servicing. The program utilizes automation to manage the portfolio and control risk, among other features.
“The CALMS Compass software provides our business with the capabilities we need to ensure efficient and compliant operations,” Joost van Hout, chief operating officer of LH-Finance, said in the release. “White Clarke Group was the right company to partner with to enable our team with the ability to deliver exceptional customer service with a high degree of flexibility in the types of finance programs we can offer.”
Yamaha Motor Finance Corp. USA previously announced that it would be using CALMS Compass to support its new in-house wholesale finance captive.
Based in Baltimore, Maryland, LH-Finance will finance boats as old as 30 years and offers a pre-approval plan for its customers.