Brunswick Corp. said it has entered into an agreement with Wells Fargo Commercial Distribution Finance to be the preferred floorplan finance provider for all Brunswick boats and Mercury Marine engines sold in Canada. The business, effective December 1, 2018, will be handled through Brunswick Commercial Finance.
A statement said that the new BCF program will provide access to a “streamlined and simplified” financing process, with stability in floorplan availability for the long-term” for Canadian dealers.
"We set out to create a stable source of floorplan financing for our Canadian dealers to help them grow," said Cecil Cohn, vice president of Brunswick’s Boating Services Network, in the statement. "In order to do that, they need simplified options and flexibility, which is why we decided to work with CDF.” Cohn called CDF an “excellent joint venture partner” that has worked with its U.S. boat dealers.
The transition from CDF to BCF will be managed over the next few months by the Wells Fargo CDF team in Canada.