In conjunction with Transamerica Distribution Finance, Coachmen Industries Inc. has created Coachmen Financial Services (CFS) to offer “inventory financing solutions” to qualified Coachmen RV Group dealers, Coachmen announced today (Sept. 29).
Initially, CFS will focus on dealer inventory financing and it is “intended to expand to other financial services,” said Joe Tomczak, executive vice president of CFO of Coachmen Industries.
“Coachmen Financial Services is a dynamic program providing finance solutions to our dealers through a branded financing package,” said Mike Terlep, president of Coachmen RV Group. “This program adds value to our relationships with our dealers as it offers qualifying Coachmen Industries dealers features specifically to support their efforts in selling more Coachmen product at lower operating costs.”
The Coachmen RV Group includes: Coachmen Recreational Vehicle Co.; Georgie Boy Manufacturing and Viking Recreational Vehicles.
Qualifying Coachmen dealers will get “highly competitive rates and terms” on their floorplan loans through the program, according to Coachmen.
Meanwhile, Transamerica, which is in the process of being acquired by GE Commercial Finance, will establish a unit dedicated to servicing Coachmen Industries and its dealers, including with credit, account management and customer service functions. The staff will be based in Charlotte, N.C., and will include experienced Transamerica RV Group personnel.
“We (Coachmen) are a leader in the RV industry and Transamerica is a leader in the wholesale recreational vehicle dealer floorplanning area,” Tomczak said. “It makes good business sense for us to team up with other leaders, and no one is better positioned than Transamerica to provide our dealers with the financing package, service and support they need and deserve.”