Sheffield Financial has signed a multiyear contract to provide retail loans to Triumph Motorcycles and its dealerships, the two companies have announced.
Under the agreement, Sheffield will finance loans for all Triumph’s motorcycles. Triumph has 149 dealerships in the U.S., according to the company’s website. Sheffield also provides loans for OEMs such as CFMOTO and BRP. Triumph loans are also financed by FreedomRoad Financial.
Based in Winston-Salem, N.C., Sheffield Financial has financed more than $26 billion in loans since its founding in 1992, and currently services more than 15,000 outdoor power equipment, powersports and trailer dealers nationwide.
“We are excited to partner with Sheffield Financial to bring competitive and convenient installment financing to Triumph dealers and customers,” Rod Lopusnak, general manager of Triumph, said in a press release. “Sheffield Financial is a proven leader in the industry and this new partnership nicely complements our commitment to dealers, customers and continued growth of Triumph.”
Sheffield is a division of Truist Bank, the entity that was formed from the SunTrust-BB&T merger. The lender is “front and center in Truist’s National Consumer Finance and Payments Group,” and “we expect Sheffield to be even better positioned to be the premier lender in the space,” a Truist spokesperson previously told Powersports Finance.
