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 new dealerships that are interested and want to sign up with us — for some of them, it’s really more of a turnkey process to say, ‘OK, we are already with one of the other wholesale financiers,’ then sign the paperwork and they are locked and loaded.”
The partnership is expected to be finalized by the second quarter of 2017, he said.
EBR Motorcycles launched a floorplan financing captive, EBR Motorcycles Floorplan Program, on July 22, after not being able to secure a partner quickly enough to provide inventory financing to dealers, Chief Executive Steve Smith told Powersports Finance in August.
However, despite the success of the captive, EBR continued to scout third-party floorplan partners, with the goal of getting more products out into the showroom.
“Sales have been solid, and we’ve had good response from dealers and the marketplace,” Melvin said. “There has been a lot of excitement for our new bikes, and we’ve had internal success with our floorplan program.”
East Troy, Wis.-based EBR Motorcycles, which relaunched in March 2016 after a yearlong hiatus, has 20 dealers.