TCF Inventory Finance, Inc. (TCFIF), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (TCF) has announced plans to further expand its floorplan finance offerings into the marine industry within Canada and the United States.
TCFIF's current reach into the marine industry extends to Alumacraft Boat Co., and BRP's marine power products. According to a company news release, moving forward the company's initial focus will be on developing relationships with marine manufacturers and dealers that produce and promote family-centric products such as fishing boats, pontoons, runabouts, ski boats and small cruisers. TCFIF will also work directly with key manufacturer groups in order to facilitate discussions and maximize opportunities.
"TCFIF provides a superior and much-needed financing source to the marine industry,' said Ross Perrelli, TCFIF President and Chief Executive Officer. "Our objective is to work hand-in-hand with our customers to ensure the growth of their businesses. With our industry knowledge, top-notch customer service and innovative products, TCFIF is the best choice for floorplan financing for marine manufacturers and dealers.'
TCFIF originated approximately $2.5 billion in loans to nearly 9,000 customers in 2010, serving manufacturers, distributors and dealers in the marine, powersports, RV, lawn and garden, and consumer electronics and appliances industries.