TCF’s Inventory Finance Selected as Speed UTV’s Exclusive Floor Plan Financing Provider
March 05 2021 - 10:02AM
Business Wire
TCF National Bank’s inventory finance subsidiary was 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 original equipment manufacturers
(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. Floor plan 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.
About TCF: TCF Financial Corporation (NASDAQ: TCF) is a
Detroit, Michigan-based financial holding company with $48 billion
in total assets at Dec. 31, 2020 and a top 10 deposit market share
in the Midwest. TCF’s primary banking subsidiary, TCF National
Bank, is a premier Midwest bank offering consumer and commercial
banking, trust and wealth management, and specialty leasing and
lending products and services to consumers, small businesses and
commercial clients. TCF has approximately 470 branches primarily
located in Michigan, Illinois and Minnesota with additional
locations in Colorado, Ohio, South Dakota and Wisconsin. TCF also
conducts business across all 50 states and Canada through its
specialty lending and leasing businesses. To learn more about TCF,
visit tcfbank.com.
Click here to subscribe to news release email alerts for TCF
Financial Corporation.
Source: TCF Financial Corporation
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version on businesswire.com: https://www.businesswire.com/news/home/20210305005368/en/
TCF press contact: Randi Berris news@tcfbank.com (248)
608-5239
TCF investors contact: Timothy Sedabres investor@tcfbank.com
(952) 745-2766
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