SCHAUMBURG, Ill.–()–TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), today announced plans to further expand its floorplan finance offerings into the recreation vehicle (“RV”) industry within the U.S. and Canada.
“We are excited to begin developing more relationships within the RV industry”
Established in 2008, TCFIF has gained significant market share in the electronics and appliances industry as well as the lawn and garden industry. In the powersports industry, TCFIF is the exclusive floorplan finance provider for Arctic Cat® in Canada and, beginning February 1, for Bombardier Recreational Products in both the U.S. and Canada. Although TCFIF is relatively new in the market, TCFIF’s executive leadership team averages over twenty years of inventory finance experience in all of these industries.
Last year, TCFIF entered the RV industry in the U. S. and Canada by becoming the preferred lender for Jayco Inc.’s three RV divisions (Jayco, Starcraft and Entegra Coach). With a strong presence at the recent Louisville, Kentucky RV show, TCFIF took the opportunity to meet with several RV manufacturers and dealers. TCFIF will continue to initiate discussions with potential customers and secure repurchase agreements from major RV manufacturers.
“We are excited to begin developing more relationships within the RV industry,” said Ross Perrelli, President and Chief Executive Officer of TCFIF. “We are confident that we are the best choice for floorplan financing for RV manufacturers and dealers.”
In addition to offering the RV industry an excellent source of financing, TCFIF is dedicated to providing its customers with exceptional service and competitive programs. TCFIF provides the convenience of a “one-stop shop” for wholesale financing needs, offering equipment financing and commercial banking services and products through TCF affiliated companies in addition to inventory financing.
For RV manufacturer and dealer inquiries, please contact Tracy Williams at (877) 800-4430 extension 4429, or at firstname.lastname@example.org.
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 powersports industry, the lawn and garden industry, the recreation vehicle industry, the marine products industry and the consumer electronics and appliances industry. TCFIF originated approximately $2.5 billion in loans to nearly 9,000 customers in 2010. For more information about TCFIF, please visit www.tcfif.com.
About TCF Financial Corporation
TCFIF is an indirect subsidiary of TCF Financial Corporation, a Wayzata, Minnesota-based national bank holding company with $19.1 billion in total assets. TCF has 436 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 in all 50 states and commercial inventory finance business in the U.S. and Canada. For more information about TCF, please visit www.tcfbank.com.
Safe Harbor for Forward-Looking Statements
Any statements contained in this release regarding the outlook for TCF’s businesses and their respective markets, such as projections of future performance, guidance, statements of TCF’s plans and objectives, forecasts of market trends and other matters, are forward-looking statements based on TCF’s assumptions and beliefs. Such statements may be identified by such words or phrases as “will likely result,” “are expected to,” “will continue,” “outlook,” “will benefit,” “is anticipated,” “estimate,” “project,” “management believes” or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in such statements and no assurance can be given that the results in any forward-looking statement will be achieved. For these statements, TCF claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to subsequently revise any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of anticipated or unanticipated events.
Certain factors could cause TCF’s future results to differ materially from those expressed or implied in any forward-looking statements contained in this release. These factors include the factors discussed in Part I, Item 1A of TCF’s Annual Report on Form 10-K under the heading “Risk Factors” and any other cautionary statements, written or oral, which may be made or referred to in connection with any such forward-looking statements. Since it is not possible to foresee all such factors, these factors should not be considered as complete or exhaustive.