LAS VEGAS — 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,” Founder and Chief Executive Donal Hummer Jr. told attendees at PowerSports Finance 2017.
The funding program will include a warehouse line and a flow conduit, he said. “It will give us the runway to know what we can do with our dealers and how many dealers we can add,” as well as the number of states into which ThunderRoad can expand, Hummer said. “Since we are not part of a large bank or captive, our biggest hurdle to growth has always been cash.”
In April 2016, Reno, Nev.-based ThunderRoad Financial became the second powersports lender — next to Harley-Davidson Financial Services — to issue a motorcycle-backed securitization.
ThunderRoad also completed a $55 million whole loan sale last month.
“Once I know that finance package is in place, then I know just what I can do without having to worry about ‘OK, we need to do another sale here in this month,” he added.