Jan 23, 2012
TCF Inventory Finance Announces Further Expansion into Recreation Vehicle Industry
TCF Inventory Finance, Inc. (?TCFIF?), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (?TCF?) (NYSE: TCB), today announced plans to further expand its floorplan finance offerings into the recreation vehicle (?RV?) industry within the U.S. and Canada.
Established in 2008, TCFIF has gained significant market share in the electronics and appliances industry as well as the lawn and garden industry. In the powersports industry, TCFIF is the exclusive floorplan finance provider for Arctic Cat? in Canada and, beginning February 1, for Bombardier Recreational Products in both the U.S. and Canada. Although TCFIF is relatively new in the market, TCFIF?s executive leadership team averages over twenty years of inventory finance experience in all of these industries.
Last year, TCFIF entered the RV industry in the U. S. and Canada by becoming the preferred lender for Jayco Inc.?s three RV divisions (Jayco, Starcraft and Entegra Coach). With a strong presence at the recent Louisville, Kentucky RV show, TCFIF took the opportunity to meet with several RV manufacturers and dealers. TCFIF will continue to initiate discussions with potential customers and secure repurchase agreements from major RV manufacturers.
?We are excited to begin developing more relationships within the RV industry,? said Ross Perrelli, President and Chief Executive Officer of TCFIF. ?We are confident that we are the best choice for floorplan financing for RV manufacturers and dealers.?
In addition to offering the RV industry an excellent source of financing, TCFIF is dedicated to providing its customers with exceptional service and competitive programs. TCFIF provides the convenience of a ?one-stop shop? for wholesale financing needs, offering equipment financing and commercial banking services and products through TCF affiliated companies in addition to inventory financing.
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