Starting next February, TCF Inventory Finance Inc. (TCFIF), a new wholesale financing provider, will provide financing to North American Ski-Doo, Sea-Doo and Can-Am dealers through a multiyear agreement penned with BRP.
The financing company also will be the preferred wholesale financing partner to Evinrude and Johnson outboard engine dealers, BRP announced.
TCFIF and its affiliates will provide a "one-stop shop," according to BRP, offering inventory financing, equipment financing and commercial banking services. Additionally, TCFIF will dedicate staff to service BRP dealers; key members of the firm's account team will be based at BRP’s offices in Montréal.
"We know that wholesale financing is key to the success and growth of our dealer network," said Yves Leduc, vice president and general manager of BRP's North American division. "We are pleased to add TCFIF to the list of our financial suppliers supporting our Canadian and American dealers. With its wide range of financial services, solid value proposition and great customer focus, TCFIF will be an excellent partner for our network."
The agreement comes into force in February 2012, according to BRP.
TCFIF, an indirect subsidiary of TCF Financial Corp. (NYSE: TCB), offers a range of inventory financing solutions to manufacturers, distributors and their dealers throughout the United States and Canada in the powersports, lawn and garden, RV, marine products and consumer electronics and appliances industries. TCFIF says it originated approximately $2.5 billion in loans to nearly 9,000 customers in 2010.
Posted by Mary Slepicka