Leveraging its successful and longstanding relationship with Wells Fargo Commercial Distribution Finance, Brunswick Corp. recently announced that it has entered into an agreement, naming CDF as the preferred provider of floorplan financing for all Brunswick boats and Mercury Marine engines sold to marine dealers in Canada under the private brand, Brunswick Commercial Finance, effective Dec. 1, 2018.
Under the new BCF program, dealers will have access to a streamlined and simplified financing process, while also benefiting from stability in floorplan availability long-term. Wholesale financing solutions will include flexible financing programs, 24/7 account access for dealers through the Customer Online Management System, a portal that offers fast answers and customer service, and up to 100 percent advance rates on inventory.
"We are excited to introduce this private label financing for Brunswick and Mercury dealers in Canada," said Tim Nixon, managing director - Canada at Wells Fargo CDF. "We are proud to be a part of this milestone, providing innovative financing solutions alongside such a great company as Brunswick."
This private label offering also provides dedicated credit lines for Brunswick dealers and its products. "We set out to create a stable source of floorplan financing for our Canadian dealers to help them grow," said Cecil Cohn, vice president - Boating Services Network. "In order to do that, they need simplified options and flexibility, which is why we decided to work with CDF, which has a stellar marine industry reputation for more than 45 years and has been an excellent joint venture partner to serve our U.S. dealers."
As part of Brunswick's recently announced Boating Services Network, it is expected that this BCF private brand will serve as a foundation to offer additional services to Canadian dealers in the future.
"Building on the success of our existing services for U.S. dealers like retail finance outsourcing, extended product protection, and retail insurance, we expect the BCF offering will introduce Canadian dealers to Boating Services Network and help them expand their profits on each transaction, while delivering a superior purchase experience to the customer," Cohn said. "We look forward to exploring these opportunities in the coming months."
Canadian dealers recently received notice of the Brunswick Commercial Finance offering.
The transition from CDF to BCF will be managed over the next few months by the Wells Fargo CDF team in Canada.
For more information, Canadian dealers can contact Patricia Carrara, Relationship Manager - Wells Fargo CDF Canada, at (905) 361-1799.