Post Tagged with: "floorplan financing"

Canadian Bank to Acquire Northpoint Commercial Finance

Canadian Bank to Acquire Northpoint Commercial Finance

by May 22, 2017 at 11:51 am

Laurentian Bank of Canada reached a definitive agreement under which a subsidiary of the bank, LBC Capital, will acquire Northpoint Commercial Finance. The transaction, which the companies announced last week, is expected to close before fiscal yearend 2017 — subject to regulatory notifications and approvals, according to a press release.Read More

UTV Manufacturer Looks to Expand Dealer Finance Offering

UTV Manufacturer Looks to Expand Dealer Finance Offering

by May 16, 2017 at 10:46 am

American LandMaster, an off-road utility vehicle manufacturer, seeks to increase the number of months it offers dealer partners with free floorplan financing to six months — up from its three-month offering — in an effort to remain competitive, Marketing Director Eric Hall told Powersports Finance. “As we add new dealers,Read More

Photo by William Hoffman / Royal Media Group

Wells Fargo CDF Extends Dealer Financing With Ducati

by May 9, 2017 at 11:04 am

Wells Fargo Commercial Distribution Finance extended its wholesale financing programs with Ducati North America Inc. and Ducati Canada Inc., the companies announced yesterday. The programs will continue to deliver inventory financing solutions to the manufacturer’s network of dealers, continuing Wells Fargo CDF’s 20-year relationship with Ducati. The program extension comesRead More

Photo by William Hoffman / Royal Media Group

Wells Fargo CDF Extends Dealer Financing With Suzuki

by April 19, 2017 at 10:50 am

Wells Fargo Commercial Distribution Finance extended its financing program with Suzuki Motor of America Inc., and will continue to serve the manufacturer’s network of powersports and marine dealers with inventory financing, according to a company press release. Suzuki Motor of America distributes motorcycles, ATVs, scooters, and outboard motors via an extensive dealerRead More

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

by March 16, 2017 at 12:03 pm

Rising floorplan finance interest rates — and manufacturer’s forcing too much inventory onto the dealer — prompted Buy Your Motorcycle to stop floorplan financing and sell four of its five dealerships, Owner Brad Van Horn told Powersports Finance. Arlington, Texas-based Buy Your Motorcycle now owns one dealership — and all of its inventoryRead More

Northpoint Expands Field Sales Team With New Directors

Northpoint Expands Field Sales Team With New Directors

by February 1, 2017 at 11:30 am

Northpoint Commercial Finance added three directors of business development, in an effort to bolster the existing field sales team and provide enhanced regional coverage to customers, the company announced on Monday. “This is an exciting growth period for Northpoint as we expand our customer base and provide innovative, customized financeRead More

ATV Manufacturer Signs Northpoint as Exclusive Floorplan Financier

ATV Manufacturer Signs Northpoint as Exclusive Floorplan Financier

by January 12, 2017 at 11:30 am

Linhai Powersports USA Corp. signed with Northpoint Commercial Finance to provide exclusive floorplan financing for Linhai’s North American dealer network, the companies announced on Monday. Alpharetta, Ga.-based Northpoint invested in additional field staff to help manage Linhai’s dealer base and attract new dealers, which was a big contributing factor to sealingRead More

EBR Expected to Finalize Floorplan Partner Soon

EBR Expected to Finalize Floorplan Partner Soon

by December 20, 2016 at 12:08 pm

EBR Motorcycles is on the verge of announcing a wholesale financing partnership, Owner Bill Melvin told Powersports Finance at the New York Progressive International Motorcycle Show. “We’ve had some discussions with a few of them [floorplan financiers],” he said. “They have a bigger network, so as we get into newRead More