Renewal showcases business’ successful 40 year relationship with the manufacturer
CHICAGO, April 13, 2017 – Wells Fargo Commercial Distribution Finance (CDF), part of Wells Fargo & Company (NYSE: WFC), announced today it has extended its financing program with Suzuki Motor of America, Inc.. The program will continue to deliver inventory financing solutions to the manufacturer’s network of powersports and marine dealers.
“We are excited to have CDF provide wholesale financing to our Suzuki dealers. Our long term relationship with CDF has been instrumental in providing our Suzuki dealers financing necessary to sell and promote Suzuki power sports and marine products,” said Mark Boyer, credit manager for Suzuki. “This nearly 40 year business relationship will continue the advancement of Suzuki’s business in the power sports and marine business industry.”
“The Wells Fargo CDF team provides best-in-class inventory financing solutions to Suzuki dealers and we are excited to extend this relationship,” said Jeremy Jansen, president of CDF Motorsports. “As they develop and distribute some of the industry’s best products, we are honored that they continue to trust our team.”
About Wells Fargo Commercial Distribution Finance
Wells Fargo Commercial Distribution Finance (CDF) provided $46 billion in financing for more than 33,000 dealers and more than 1,400 distributors and manufacturers globally in 2016. Wells Fargo CDF provides inventory financing solutions, service and intelligence through in-depth industry expertise and commitment. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, and related financial products. On March 1, 2016, Wells Fargo acquired the North American business of CDF from GE Capital. The sale of the global business was completed as part of a phased approach on October 1, 2016. For more information, visit wellsfargo.com/cdf or follow company news via Twitter @WellsFargoCDF.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,800 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 269,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
About Suzuki Motor of America, Inc.
Suzuki Motor of America, Inc. (SMAI) distributes Motorcycles, ATVs, Scooters andOutboard Motors via an extensive dealer network throughout 49 states. SMAI’s supplier, Suzuki Motor Corporation (SMC), based in Hamamatsu, Japan, is a diversified worldwide manufacturer of Motorcycles, ATVs, Scooters, Automobiles and Outboard Motors. Founded in 1909 and incorporated in 1920, SMC has 147 distributors in 201 countries. For more information, visit www.suzuki.com