Dealer Direct — the powersports lending division of First Community Bank — experienced its “best year yet” in 2017 with growth in portfolio outstandings of 17% year over year, Senior Vice President and Manager Steve Wilcoxon told Powersports Finance.
After preparing to end the year “somewhat flat,” the powersports lender increased originations in the last four months of 2017, he said.
“I can’t explain where the volume came from, but it was an awesome feat,” Wilcoxon said, adding that the overall volume was just under $80 million for 2017. “I challenged our team this past year with some rather lofty projections, and we did not reach that [goal], but to do better than our best did make the numbers a bit sweeter.”
