TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), has named Scott Raymond as General Manager for the powersports industry in the United States, and Peter Kelley as General Manager for the powersports industry in Canada. Together, they will lead TCFIF’s efforts to further expand its base of powersports manufacturers and dealers across North America.
“Scott and Peter both have extensive experience in floorplan financing as well as a deep understanding of the powersports industry,” said Ross Perrelli, President and Chief Executive Officer of TCFIF. “I have tremendous confidence in their abilities to lead and bring new customers on board.”
TCFIF recently gained significant ground in the powersports finance market when it entered into a multi-year exclusive agreement with BRP to provide inventory financing to its U.S. and Canadian Ski-Doo®, Sea-Doo® and Can-Am® dealers. They are also the preferred finance provider for BRP’s Evinrude® and Johnson® dealers across the U.S. and Canada. Additionally, TCF Commercial Finance Canada, Inc. remains the exclusive provider of inventory floorplan financing for Arctic Cat’s Canadian dealers.
Kelley, who has been with TCFIF since the company’s inception in 2008, remains the President of TCF Commercial Finance Canada, Inc., but will focus his efforts on the Canadian powersports industry for the near future.
Raymond joined TCFIF in June 2009 and is based in the company’s Alpharetta, Georgia office. Over the past three years, he has been focused on the U.S. lawn and garden and specialty finance businesses, and has extensive experience in development and leadership of significant powersports financing programs.
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 $17.8 billion in total assets at March 31, 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 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 www.tcfbank.com.
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Jason Korstange, 952-745-2755
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