With an inventory financing facility that supports their strategy of providing customers a robust choice of powersports vehicles, and an unmatched buying experience both online and in retail locations, RumbleOn has entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan.
“RumbleOn remains focused on providing the best customer experience in powersports and access to high-quality used inventory is paramount to our future growth,” said Narinder Sahai, RumbleOn’s chief financial officer. “The option to finance used inventory provides us with the flexibility we need to fund our working capital needs, while executing on our mission to build the future of powersports. We believe that securing this inventory financing credit facility with J.P. Morgan, amid tightening credit markets, is further validation of the strength of our business model.”
“We are committed to finding the best solutions to help our clients grow their businesses and we are excited to underwrite an inventory financing facility with RumbleOn,” said Jeff Stern, managing director, Asset Based Lending at J.P. Morgan Commercial Banking. “We look forward to supporting RumbleOn as they scale their business and offer used powersports vehicles to more consumers nationwide.”