Wells Fargo issued the following announcement on Aug. 14.
Wells Fargo Commercial Distribution Finance (CDF), a unit of Wells Fargo Commercial Capital, announced today the continuation of Polaris Acceptance, a joint venture with Polaris Inc., into 2027. CDF and Polaris began the dealer wholesale financing joint venture in 1996.
“It has been remarkable to watch Polaris Acceptance expand and prosper over the past two decades,” said Steve Battreall, president of CDF. “We feel fortunate to continue to serve Polaris’s expansive dealer network with a stable financing source and high-quality customer service.”
Polaris is currently celebrating 65 years of being a recognized leader in the powersports industry. With the extension of this program, CDF will continue to ensure dealers have access to working capital and provide Polaris with financial solutions as they develop new products, innovate across distribution channels and grow their global business.
“CDF has provided Polaris and our U.S. dealer network with industry-leading wholesale floorplan financing service and support for more than two decades,” said Mike Speetzen, executive vice president and chief financial officer, Polaris. “Polaris Acceptance is a vital tool for many of our dealers and the extension of this joint venture signals our strong commitment to continue providing unmatched products and services for our dealers.”
Polaris Acceptance is managed by CDF’s Steve Hupp who has 20 years of industry experience, including 10 years with CDF.
“Our relationship with Polaris is invaluable to CDF and we are thrilled to continue providing more than 1,400 Polaris dealers in the U.S. access to wholesale financing solutions,” said Hupp. “For nearly 23 years, we have worked side-by-side with Polaris and witnessed firsthand their growth and impact on the powersports industry. We look forward to working with them for years to come.”
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