Sheffield Financial, a division of Branch Banking and Trust Company, signed a five-year agreement with GOLDPoint Systems effective immediately.

GOLDPoint Systems offers a software suite of loan management tools for installment and specialty lenders. The full GOLDPoint suite contains loan servicing, loan origination, calculations, payments, accounting, reporting and file storage. GOLDPoint Systems’ has clientele in both direct and indirect lending markets.

“Sheffield is excited to extend our 10-year relationship with GOLDPoint Systems for an additional five years,” Sheffield Financial President Jeff McKay said. “The GOLDPoint platform has provided the backbone for loan servicing applications used by Sheffield on a day-to-day basis. Since partnering with GOLDPoint in 2007, Sheffield has expanded its leadership in the outdoor power equipment, power sports and trailer retail sales finance segments, closing over 2.8 million loans. We are confident the continued improvements in the platform will allow Sheffield to maintain this leadership position, adding new functionality to meet the demands of a rapidly evolving financial marketplace.”

Clemmons, NC-based Sheffield Financial has financed $22 billion in loans since its founding in 1992 and currently services more than 15,000 outdoor power equipment, power sports and trailer dealers nationwide.