Sheffield Financial Expects Double-Digit Growth

canstockphoto8407191BB&T Corp. expects seasonally strong loan growth in its powersports finance segment for the second quarter, Kelly King, the bank’s chairman and chief executive, said during the Deutsche Bank Global Financial Services Investor Conference in early June. The powersports segment, managed by Sheffield Financial, has been consistently strong, she added.

“The powersports industry for Sheffield is seeing an outstanding growth since we started in this business in 2001,” Jack Snow, Sheffield’s president and chief executive, said.

The powersports business saw 30% and 17% year-over-year growth for 2013 and 2014, respectively, Snow told Powersports Finance. Sheffield foresees double-digit growth in its powersports segment for the coming five years, Snow said.

Sheffield specializes in financing off-road vehicles, motorcycles, personal watercraft, and snowmobiles.

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