Wells Fargo Commercial Distribution Finance (CDF), part of Wells Fargo & Company (NYSE: WFC) has extended its inventory financing program with Briggs & Stratton Power Products Group, a wholly owned subsidiary of Briggs & Stratton Corp (NYSE: BGG), through 2021. The extension will be used to support wholesale floorplan financing of consumer and commercial riding equipment, portable generators, pressure washers, snowblowers and lawnmowers.
As a preferred financer, CDF will be supporting more than 2,800 dealerships in the Briggs & Stratton network in both the US and Canada. Brands supported include Briggs & Stratton, Simplicity, Snapper®, Snapper Pro, Ferris, and Billy Goat.
“CDF’s flexible, customer-based financing solutions are essential to our success,” said Harold Redman, president of the Briggs & Stratton Turf & Consumer Products Group. “This extension will ensure that our North American dealers have the best financing tools available to help them manage their business.”
“We’re excited to be able to lend our industry expertise to such an innovative and recognizable name in the market like Briggs & Stratton,” said Mike Horak, president of CDF’s outdoor products group. “The outdoor product industry has seen solid growth in the last year and is steadily growing. At Wells Fargo CDF, we are able to offer additional financial products while continuing to help Briggs & Stratton dealers continue on this growth trajectory.”
