TCF Inventory Finance announced that it entered into a multiyear agreement with Independent Boat Builders Inc.
TCF Inventory Finance, a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corp., will provide wholesale floorplan financing solutions to the 22 boatbuilders that are IBBI members in the United States and Canada.
"We are very excited to begin this relationship with IBBI," TCF Inventory Finance president and CEO Ross Perrelli said in a statement. "I am highly confident that our dedication to our customers and strong commitment to the marine industry make TCFIF the best choice for IBBI and its members."
The agreement with IBBI is a further demonstration of TCF Inventory Finance's continued intent to expand its presence in the marine industry.
"Both TCFIF and IBBI take tremendous pride in what we do, and that is what makes this a great business partnership," IBBI president Tom Broy said. "Both companies focus on providing top-notch and dependable programs and services that will help the industry continue to grow."
TCF Inventory Finance is an inventory finance company offering financing to manufacturers, distributors and dealers in the United States and Canada. It is an indirect subsidiary of TCF, a Wayzata, Minn.-based national bank holding company. TCF has more than 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services.