LAS VEGAS — ThunderRoad Financial aims to expand nationwide next year, pending the company’s new funding program and another OEM partnership that is “in discussion,” Chief Executive Donal Hummer Jr. told attendees at PowerSports Finance 2017 recently.
The full-spectrum powersports lender makes loans for 450 dealers in 30 states.
The company’s nationwide expansion will depend on the funding program it is trying to develop and the “type of financing we are able to put in place,” he said.
ThunderRoad Financial is setting up a program to provide enough liquidity to fund growth through 2019 without the need to “constantly go back to the capital markets,” he said. The funding program will include a warehouse line and a flow agreement.
The Reno, Nev.-based lender works with Royal Enfield North America. The lender has dealers “on a wait list right now in the current states that we operate, so I really don’t need [nationwide expansion] for volume,” he said. In actuality, nationwide expansion would be a strategy to support the OEM, he added.