Key Recreation Lending, a division of Cleveland-based KeyCorp (NYSE: KEY), continues its “preferred wholesale lender” status with the Recreational Vehicle Dealer Exchange Group (REDEX) for another four years. REDEX, the recreational vehicle industry’s largest buying group of independent dealers, is made up of 87 recreational vehicle dealers across the US and accounts for an estimated 15% of the annual RV sales in the US.
“Over the past three years, Key has been able to handle all aspects of commercial lending for our dealers and this was a determining factor in extending the contract for an additional four years. Key will continue to provide floorplan, working capital and real estate loans, as well as cash management, investment management and business advisory services to our dealers,” said Paul Skogebo, president of REDEX. “Key understands the recreational vehicle business and continues to demonstrate their long-term commitment to our dealers and the industry.”
Adds Kevin von Busch, senior vice president and national sales manager for Key Recreation Lending: “REDEX constitutes a ‘who’s who’ in the recreational vehicle industry, accounting for more than $1.7 billion in annual recreational vehicle sales, We look forward to deepening our relationship with the dealers over the next four years as a preferred lender and full service financial provider.”
Key Recreation Lending, a division of KeyBank USA, one of the nation’s largest bank-based financial services companies, is a leading marine and recreation lender. With more than 50 years of experience in the recreation lending business, Key provides an array of financial options to dealers, including inventory, real estate and equipment financing; retail programs; and treasury management services.