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Wells Fargo Extends Financing Relationship with Polaris
August 13, 2019
Wells Fargo Commercial Distribution Finance (CDF), a unit of Wells Fargo Commercial Capital, announced today the continuation of Polaris Acceptance, a joint venture with Polaris Inc., into 2027. CDF and Polaris began the dealer wholesale financing joint venture in 1996.
“It has been remarkable to watch Polaris Acceptance expand and prosper over the past two decades,” said Steve Battreall, president of CDF. “We feel fortunate to continue to serve Polaris’s expansive dealer network with a stable financing source and high-quality customer service.”
Polaris is currently celebrating 65 years of being a recognized leader in the powersports industry. With the extension of this program, CDF will continue to ensure dealers have access to working capital and provide Polaris with financial solutions as they develop new products, innovate across distribution channels and grow their global business.
“CDF has provided Polaris and our U.S. dealer network with industry-leading wholesale floorplan financing service and support for more than two decades,” said Mike Speetzen, executive vice president and chief financial officer, Polaris. “Polaris Acceptance is a vital tool for many of our dealers and the extension of this joint venture signals our strong commitment to continue providing unmatched products and services for our dealers.”
Polaris Acceptance is managed by CDF’s Steve Hupp who has 20 years of industry experience, including 10 years with CDF.
“Our relationship with Polaris is invaluable to CDF and we are thrilled to continue providing more than 1,400 Polaris dealers in the U.S. access to wholesale financing solutions,” said Hupp. “For nearly 23 years, we have worked side-by-side with Polaris and witnessed firsthand their growth and impact on the powersports industry. We look forward to working with them for years to come.”
About Commercial Distribution Finance
Wells Fargo Commercial Distribution Finance provided $43 billion in financing for more than 30,000 dealers and more than 1,200 distributors and manufacturers globally in 2018. 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. 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 $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,700 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 33 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.