Northpoint Commercial Finance (Northpoint) announced Jiangsu Linhai Power Machinery Group Corp. (Linhai) has chosen Northpoint as their exclusive floorplan financing partner for North American dealers. The partnership will help both companies expand while ensuring dealers have access to competitive rates and terms, flexible programs, and exceptional customer service.
For more than 60 years, Linhai has developed and produced small engines and power machinery, notably a variety of two-stroke and four- stroke gasoline engines and ancillary power machinery. Its main products include ATVs and UTVs, general-purpose engines, mini gasoline generating sets, and affiliated small power machinery.
“We are excited to help Linhai build their dealer network while offering their dealers a world class inventory finance program and flexible financing solutions not found at other floorplan financiers,” said Dan Radley, Northpoint’s CEO. Northpoint is a leader in inventory financing solutions.
The partnership is a result of two ambitious companies joining forces to develop new relationships and build their book of business and geographic footprint in the powersports industry. Northpoint will provide Linhai dealers with introductory free floorplan financing to help bring more product to market.
“We are a pioneering business model that enables customers to continually control their dealerships, changing the way the industry looks at business along the way,” said Todd Pagel, Linhai’s President. “Linhai offers the most competitive dealer margins compared to other OEMs, exclusive territories, and now very advantageous floorplan programs through Northpoint.”
Linhai has eliminated a step in the distribution chain and will be marketing its products under a new brand TITAL, which stands for ‘Take It To Another Level’. The move will enable the company to be more reactive to the needs of both dealerships and the end consumer, and more effectively control supply chain quality. Northpoint will be a partner in that growth.
“Having a single wholesale financing lender with a successful history in the powersports industry to assist our newly appointed dealers is crucial to our plans,” said Jeff Brunson, Linhai’s Vice President of Sales and Marketing. “Their industry experience, product knowledge and dealer communications savvy were key factors in why we selected them.”
Pagel noted Northpoint’s investment in field staff was another contributing factor in sealing the deal. Northpoint will help Linhai manage the dealer base, attract new dealers, and assist them with financing products beyond the introductory program.