CFMOTO has signed Sheffield Financial as a retail finance partner in an inaugural multiyear contract, the two companies have announced. The contract covers installment financing for CFORCE ATVs, ZFORCE sport side-by-sides, and UFORCE UTVs.
Sheffield inked the partnership as a means to provide the financing requested by its dealer base for CFMOTO products, a Sheffield spokesman told Powersports Finance.
Winston-Salem, N.C.-based Sheffield Financial is a division of Truist Bank, the new entity formed from the SunTrust-BB&T merger. Post-merger, Truist will enhance Sheffield’s lending services for CFMOTO and other OEM partners. “One important aspect is the dependability of [Sheffield’s] Easy, Simple, Fast application process supported by a dedicated team of on-call loan officers,” the spokesman said. “This now will be bolstered with the availability of additional balance sheet and technological enhancements as a result of the Truist merger.”
In addition to CFMOTO, Sheffield works with BRP and Mahindra Roxor. CFMOTO also has retail partnerships with Synchrony Financial and Roadrunner Financial.
“As we continue to grow and expand the CFMOTO brand and footprint here in the U.S., we are proud to provide our dealer network with additional, strong financial partnership opportunities with well-known industry veterans like Sheffield Financial,” Eric Fan, chief financial officer of CFMOTO, said in a press release.
