Wells Fargo Commercial Distribution Finance has entered into a financial relationship with Vanderhall Motor Works, a three-wheel vehicle manufacturer, the companies announced.
Formerly, Vanderhall provided the flooring on its own, but now Wells Fargo CDF will be assuming that role to help the OEM focus on growing its dealer base.
“Most of our dealer network is already using Wells Fargo,” said Stephen Hall, chief executive of Vanderhall told Powersports Finance. “It was an easy transition for our dealers to just add an additional line.”
Vanderhall Motor Works is partnered with 42 dealers spread across 25 states. Most of the dealer network consists of Harley-Davidson, Indian, Triumph, and BMW, and most of those dealers use Wells Fargo CDF, which made the decision behind which inventory lender to partner with simpler.
The Provo, UT. based-Vanderhall specializes in the manufacturing of three-wheeled, open-air autocycles. The OEM has four different models of roadsters for consumers, which feature a unique blend of automotive and powersports technology.
Wells Fargo CDF was unable to comment by press time.