The floorplan financing world in the powersports industry just took an interesting turn with news that one of the newest side-by-side manufacturers has turned to TCF Inventory Finance to provide floorplan financing to dealerships.
Here’e the scoop from Speed UTV and TCFIF.
TCF National Bank’s inventory finance subsidiary has been named the exclusive floor plan financing provider for powersports company Speed UTV, which is owned by Robby Gordon, a former NASCAR and IndyCar racer, and Todd Romano, Founder of DragonFire Racing.
Collectively, Gordon and Romano have more than 40 years of racing, engineering and business experience. They have assisted many of the major powersports OEMs with product and new vehicle development, and have now decided to offer the market their own high-performance off-road vehicles, accessories and industry-leading designs.
“TCF believed in our unique business model, vehicles, dealers, our company and its financial outlook. Floorplan finance companies need to have a deep understanding of our business and our dealers’ business to see the value in financing our products. TCF reviews many new business opportunities each year, and this year they chose Speed UTV as one of the companies to support through dealer financing. Our management team and dealer network are excited for this new relationship,” said Romano.
“TCF is thrilled to be Speed UTV’s exclusive floorplan financing provider. Mr. Gordon and Mr. Romano are experienced and skilled leaders in the powersports industry, which is sure to be invaluable to the success of Speed UTV. We thank them for selecting us to play a role in their company’s near- and long-term growth,” said Jay Deverell, chief executive officer, TCF Inventory Finance.
The TCF Inventory Finance team provides floor plan financing solutions developed for manufacturers and dealers that sell equipment to commercial and consumer customers located in the U.S. and Canada.
View a free February 2021 webinar with Romano and Powersports Business editor Dave McMahon on-demand HERE: