TCF Inventory Finance and American Boatbuilders Association Enter into Financing Agreement
TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), today announced that it has entered into a multi-year financing agreement with American Boatbuilders Association, Inc. (“ABA”). Under the agreement, TCFIF will have the opportunity to provide wholesale floorplan financing solutions to the 13 boat manufacturers that are members of ABA.
“Beginning this relationship with ABA is another great step forward for us in the marine industry,” said Ross Perrelli, President and Chief Executive Officer of TCFIF. “We look forward to providing ABA members with an excellent source of floorplan financing and outstanding customer service.”
TCFIF continues to expand its presence in the marine industry and this agreement with ABA is a further demonstration of TCFIF’s commitment to marine manufacturers, distributors and dealers.
“We are very excited to work together with TCFIF,” stated Jay Patton, President of ABA. “I believe that TCFIF shares our deep dedication to the marine industry and a desire to see it continue to grow and regain its former health.”
In addition to providing inventory financing, TCFIF provides the convenience of a “one stop shop” for wholesale financing needs by also offering equipment financing and commercial banking products and services through TCF affiliated companies. Additionally, TCFIF recently announced the launch of The Customer First Alliance, which consists of a network of providers designed to offer a suite of cost-effective, tailored business and personal advisory services in Accounting, Insurance, Legal and Wealth Management to TCFIF customers. All Alliance services will be provided by third-party service providers who are not affiliated with TCFIF.
For marine manufacturer, distributor and dealer inquiries in the U.S. and Canada, please contact Bob Bejesky, National Relationship Manager, at (231) email@example.com.
About TCF Inventory Finance, Inc.
TCFIF is a premier inventory finance company offering a full range of inventory financing solutions to manufacturers, distributors and their dealers throughout the United States and Canada in the lawn and garden industry, the powersports industry, the recreation vehicle industry, the marine products industry and the consumer electronics and appliances industry. For more information about TCFIF, please visit www.tcfif.com.
About TCF Financial Corporation
TCFIF is an indirect subsidiary of TCF, a Wayzata, Minnesota-based national bank holding company with $17.9 billion in total assets atJune 30, 2012. The company has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing and equipment finance business and leverage lending in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states. For more information about TCF, please visit tcfbank.com.