Wells Fargo Commercial Distribution Finance, part of Wells Fargo & Company (NYSE: WFC), announced it has entered into a strategic agreement with Chaparral and Robalo Boats, effective the 2018 model year. Under the program, CDF will deliver inventory financing solutions to the manufacturer’s network of marine dealers in North America.
The program will provide qualified dealers with exclusive vendor supported financing terms in addition to customized products and services developed by CDF for the marine industry. Dealers will have access to analytical tools and digital services as well as a suite of banking products and services, which are available through Wells Fargo.
“We at Chaparral and Robalo are pleased to enter into a strategic relationship with Wells Fargo,” said Buck Pegg, executive vice president and founder of Chaparral Boats. “We have shared a long, time trusted partnership with their team of financial professionals spanning several decades. Through our consolidated relationship, we will bring their specialized services and products to our world class dealer network.”
“We are thrilled to extend our more than 50-year relationship with these iconic boat brands,” said Bruce Van Wagoner, president of CDF’s Marine Group. “We’re honored that Chaparral and Robalo continue to trust CDF and recognize the value we provide the Marine industry, beyond floorplan transactions, to help them and their dealers grow their businesses.”