Guide to Powersports Lenders

Publish Date: 
Jul 27, 2009

WE HAD A SIMPLE mission: Contact all known national and regional powersports lenders (including brokers) and ask them a series of questions. Then post their info on our website so you could shop for new lenders.

Some companies replied quickly. Others, like Help Me Ride, Medallion Bank and Sparta Commercial Services, never responded to our inquiries. Another bank, one popular with dealers in the West, flatly told us that it was not interested in promoting its powersports business, even though several dealers have praised the bank profusely.

Banks that once offered powersports loans told us they no longer do, including KeyBank, First Federal and Western Funding Inc.

So we’ve posted below what we could find. Hopefully, we’ll be able to add more entries in the months ahead. If you have any suggestions, please e-mail them to

Access Equipment & Financing LLC
305 Trade Square S.E., Suite 2
Troy, Ohio 45373
Phone: 866-892-0315
Fax: 937-552-9484
Info Last Updated: July 29, 2009

Types of units financed: All types and brands, new and used up to 7 years old. Program available only to homeowners.
States in which it does business: Arizona, California, Florida, Georgia, Iowa, Indiana, Kentucky, Maine, Michigan, Minnesota, Mississippi, Missouri, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virgina, Washington, Wisconsin and West Virginia.
Number of dealers signed up: 765.
Setup costs: None.
Lowest FICO score accepted: 650.
Range of loan amounts: $1,000 to $15,000.
Range of down payments required: Usually none.
Range of term lengths: 24 to 60 months, depending on the financed amount.
Range of interest rates: 11.99 percent to 15.99 percent, fixed rates.
Discount fee charged: None.
Other fees: Special program fees only for participating dealers.
Other: Loan amounts are based on price invoices. Access Equipment pays dealers a lump some of participation based on the invoiced amount. There is no recourse back to the dealer. Loan stipulations vary per applicant. Loans do not require full-coverage insurance. Access Equipment communicates with dealers through phone and fax, and via the Web. The company claims that it typically takes 30 minutes for it to deny or accept an application. It is open Monday through Friday, 9 a.m. to 5 p.m. (Continued)