Move aimed at simplifying the dealer financing process
Brunswick Corporation has named Wells Fargo Commercial Distribution Finance (CDF) as the preferred floorplan financing provider for all Brunswick boats and Mercury Marine engines sold to Canadian boat dealers under the private label of Brunswick Commercial Finance (BCF).
The move is aimed at simplifying the dealer financing process while providing stability through long-term floorplan availability.
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 US 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,” Cecil Cohn, vice president - Boating Services Network, said in a company statement.
The 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,” Cohn said. “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.”
The agreement is set to take effect 1 December, and the transition from CDF to BCF will be managed over the next few months by the Wells Fargo CDF team in Canada.