Textron Financial and Arctic Cat Announce Dedicated Business Relationship
Textron Financial announces that Textron Financial Canada Limited and Arctic Cat Sales Inc. have established a dedicated inventory financing program for Arctic Cat dealers in Canada. Under the new five year $160 million credit facility, Textron Financial will provide Canadian Arctic Cat dealers with dedicated lines of credit at highly competitive rates and terms. The Arctic Cat program features simplified procedures and an online inventory management system that allows easy transfer of units between dealers. Textron Financial is a subsidiary of Textron Inc. (NYSE: TXT).
“Canadian dealers will benefit from experienced account management that is dedicated to Arctic Cat, similar to what U.S. dealers have enjoyed since 2003,” said Pierre Major, president of Textron Financial Canada’s inventory finance division. “We developed a financing program that met the specific needs of Arctic Cat dealers and, as a result, have earned Arctic Cat’s continued confidence in our business.”
“We chose Textron Financial as our financing provider in Canada because we have come to appreciate their enthusiasm, the quality of their Canadian operations, and the proven results we have achieved with our program in the U.S.,” said Brad Darling, Arctic Cat’s national sales manager in Canada.
This new program is effective immediately for all new orders placed with Arctic Cat once the dealer is set up with Textron Financial Canada. “The majority of dealers will be activated before the June dealer meeting to ensure there are no interruptions in Arctic Cat orders,” said Chris Cook, vice president national sales and marketing for Textron Financial Canada. “Textron representatives have already started the process by delivering the necessary documents to Arctic Cat dealers.”
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