American Suzuki Motor Corp. and Sheffield Financial have renewed and expanded a three-year financing services agreement effective immediately.
The contract will cover installment and revolving financing for motorcycles, scooters, ATVs and UTVs manufactured in the United States, according to a press release.
"Sheffield is an innovative lender that can adapt quickly to changes in the marketplace," Dirk Gould, finance manager for American Suzuki Motor Corp., said in the release. "With the strong financial backing of BB&T, Sheffield was able to maintain a business-as-usual attitude during the recent credit crunch. Having a lender we know will be there in good times and in bad is one of our main priorities when choosing a financial partner."
Sheffield Financial and American Suzuki signed their first contract together in April 2008. The original agreement provided revolving loans to Suzuki customers.
"Suzuki was willing to take a chance on us while we were still relatively unknown in the powersports industry," Sheffield Financial President Jack Snow said in the release. "We have never exited an industry that we entered, and we don't forget those companies who helped us get to where we are today."
Sheffield Financial is a division of BB&T Financial, FSB, a subsidiary of BB&T Corp.