Viper Motorcycle Company to Provide GE Capital Floorplan to Dealers
AUBURN, Ala., Nov. 8, 2012
AUBURN, Ala., Nov. 8, 2012 /PRNewswire/ --Viper Motorcycle Company, a
wholly-owned subsidiary of Viper Powersports, Inc. (OTCQB: VPWI), has entered
into an agreement with GE Capital's Commercial Distribution Finance (CDF)
business to provide financing to approved dealers that want to purchase Viper
inventory. Under this agreement, the Company has a contingently liability to
repurchase the inventory from the funder should the dealer experience a
business failure. The floor plan funder does independent credit evaluations
of all approved dealers.
Inventory financing, also known as floorplan financing, allows dealers to
stock, market and sell motorcycles and related products. It's an important
element of a successful manufacturer-dealer business model.
ABOUT VIPER POWERSPORTS, INC: Viper Powersports designs, manufactures and
markets a line of premium American V-Twin Super Cruiser motorcycles, V-Twin
aftermarket engines and other related aftermarket products through an
independent dealer network. Joint venture partner Ilmor Engineering
(www.ilmor.com), provides technical developmental support for the proprietary
152 cubic inch Viper V-Twin engine, utilizing their 25 years of engine design
expertise, ensuring Viper's long term success as America's newest domestic OEM
of motorcycles. Viper Motorcycle Company website is www.vipermotorcycle.com.
The foregoing material may contain forward-looking statements. We caution that
such statements may be subject to uncertainties and that actual results could
differ materially from the fore-going statements. Readers accordingly should
not place undue reliance on these forward-looking statements, which do not
reflect anticipated or unanticipated events or circumstances occurring after
the date of these forward-looking statements.
Viper Motorcycle Contact:
Timothy C. Kling
SOURCE Viper Powersports, Inc.
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