3/14/2011-Sheffield, BRP sign exclusive agreement

Retail lending deal covers U.S. dealerships
Industry retail lender Sheffield Financial has extended its relationship with BRP, signing a three-year installment financing services agreement, effective immediately.
BRP has agreed to exclusively endorse Sheffield’s installment financing programs for its Sea-Doo watercraft; CanAm ATVs, side-by-sides and roadsters; and Ski-Doo snowmobiles sold by BRP dealers in the United States. Sea-Doo boats also are covered by this agreement, although not exclusively.
“Due to its innovative products, BRP and its Sea-Doo, Ski-Doo and Can-Am brands enjoy an excellent reputation as a market leader in the powersports industry,” Jack Snow, Sheffield Financial’s president, said in a press release. “Sheffield shares this entrepreneurial spirit and is extremely pleased to collaborate with BRP in offering financing products to its customers.”
Extension of 2009 deal
Sheffield, founded in 1992 and acquired by BB&T Corp. in 1997, signed its first contract with BRP in January 2009 to provide installment and revolving loans to its customers.
“Sheffield has worked hard to earn our business over the past two years,” Yves Leduc, vice president and general manager, North American division, BRP, said in the press release. “This new agreement strengthens our relationship and will be beneficial for our dealers and customers.” PSB