Wells Fargo Commercial Distribution Finance, part of Wells Fargo & Company, has extended its strategic floorplan financing agreement with the Independent Boat Builders, Inc., a boat manufacturer buying group in the U.S. and Canada.
The program covers 19 member manufacturers that sell 36 brands. Based in West Frankfort, Ill., IBBI is the largest cooperative buying group in the U.S. and Canada, with its manufacturers selling more boats in those countries than any other entity.
“CDF’s commitment to, and knowledge of, our business and the marine industry has had a great impact on our members over the last several years," said Tom Broy, president of IBBI. "We are very pleased to be able to extend our financing programs with CDF through 2020.”
“We are thrilled to continue the strategic program with the IBBI," said Bruce Van Wagoner, president of CDF's marine group, "We have enjoyed a strong relationship and we look forward to continuing to deliver valuable tools that their members can leverage to help them succeed.”
Under the extended program, CDF anticipates funding over $4 billion for IBBI boat dealers in the U.S. and Canada. The program will provide qualified dealers with special, vendor-subsidized financing programs and terms, as well as a dedicated staff with extensive marine experience who provide world-class customer service.
Additionally, dealers will have access to Customer Online Management System, CDF's proprietary online inventory finance management tool, and Analytics Online, which provides crucial information and insights about inventory finance management.