American sportbike manufacturer EBR Motorcycles launched a floorplan financing captive, EBR Motorcycles Floorplan Program, on July 22, after difficulties securing a partner quickly enough to provide inventory financing to dealers, said Steve Smith, the OEM’s chief executive.
“We need to get more of our products out into the showroom,” Smith said. As a smaller manufacturer, sometimes the interest rates offered by the major floorplan financiers are “a bit too high, or just not viable at our current volumes,” he added.
East Troy, Wis.-based EBR Motorcycles, which relaunched in March 2016 after a yearlong hiatus, has 15 dealers; its goal is to reach 40 dealers by yearend.
Meanwhile, EBR continues to scout third-party floorplan partners. “Because we are a small, unknown party, we have to prove ourselves with the big players,” Smith said. While some providers have expressed interest, “that is a long process and we didn’t think we could wait,” he added.