BRP signed a multi-year strategic alliance with TCF Inventory Finance, Inc. (TCFIF), a new wholesale financing provider.
TCFIF will be providing wholesale financing solutions to BRP’s Ski-Doo, Sea-Doo and Can-Am North American dealers and be the preferred wholesale financing partner to Evinrude and Johnson outboard engine dealers.
“We are thrilled to add BRP and its roster of dealers to our customer base,” said Ross Perrelli, president and chief executive officer of TCFIF. “The creation of this long-term North America-wide relationship is proof that our formula of industry experience, exceptional customer service, and a reliable and stable source of capital is a winning one.”
TCFIF and its affiliates will be a convenient one-stop shop, offering inventory financing, equipment financing and commercial banking services.
Additionally, TCFIF will dedicate staff to service BRP dealers; key members of their account team will be working within 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, North America 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.”
This agreement comes into force in February 2012.
TCFIF, an indirect subsidiary of TCF Financial Corporation (NYSE: TCB), is a premier inventory finance company offering a full range of inventory financing solutions to manufacturers, distributors and their dealers throughout the United States and Canada in the powersports industry, the lawn and garden industry, the recreational vehicle industry, the marine products industry and the consumer electronics and appliances industry. TCFIF originated approximately $2.5 billion in loans to nearly 9,000 customers in 2010.