Issue link: https://read.dmtmag.com/i/343790
www.PowersportsBusiness.com FINANCE Powersports Business • July 13, 2014 • 17 Sparta Commercial announces new marketing alliance Sparta Commercial Services, Inc. announced that it has formed a marketing alliance with Quantech Software, Inc., a Canadian-based software developer focusing on the retail powersports, marine, RV and auto industries. This relationship will enable Quantech, which provides a wide range of products to dealers including F&I, menu selling, lead management and DMS, to add a valuable new addition to its product line. The Q-App is a highly advanced mobile app designed expressly for the types of retail dealers the company markets to. The Q-App is a custom version of iMobileapp, the unique and affordable product developed by Sparta's Mobile Technology Division. The Q-App, powered by iMobileapp, provides retail dealers in Quantech Soft- ware's targeted sector with an opportunity to communicate with their customers in ways never before possible, via their smartphones or tablets, with features that include service requests, inventory views, events, sales spe- cials and more, all delivered instantaneously to the customers. "This agreement is an excellent example of what our iMobileapp product can do for a company like Quantech Software," Sparta CEO Anthony Havens said. "As they look for new products to offer their customers that have real value, and can realistically, and in a truly advanced way, take full advantage of the rapidly developing technology available to them. The Q-App, powered by iMobileapp, clearly meets that objective." "We're very enthusiastic about being able to offer the Q-App, powered by iMobileapp, to our customer base," said Mike Martin, gen- eral manager of Quantech Software. "We're confident that with this exciting new product, they'll be able to enhance their own customer loyalty factor, gain a real advantage over the competition that hasn't yet caught up with this technology and increase their bottom lines. We expect this new relationship with Sparta Commercial will be a long and mutu- ally beneficial one." POLARIS CEO WINE JOINS U.S. BANCORP BOARD OF DIRECTORS Polaris Industries Inc. announced that Scott W. Wine, its chairman and chief executive officer, has been elected to serve as a director of U.S. Bancorp, effective July 14. "It is a tremendous honor to join the Board of Directors of U.S. Bancorp, a great bank- ing institution with a stellar reputation for efficiency, integrity and strong financial results," Wine said. "I look forward to con- tributing to, and learn- ing from, Richard and the rest of the board." Minneapolis-based U.S. Bancorp, with $371 billion in assets as of March 31, is the parent company of U.S. Bank National Association, the fifth-largest com- mercial bank in the U.S. "We are delighted that Scott will be bring- ing his extensive experience and insight to our board," said Richard K. Davis, chairman, president and chief executive officer of U.S. Bancorp. "He is a talented and recognized leader, and will provide valuable contribu- tions and guidance in the years ahead." YAMAHA MOTOR CANADA ANNOUNCES NEW WHOLLY OWNED FINANCING COMPANY Yamaha Motor Canada Ltd. in June announced the creation of a new wholly owned subsidiary company, which will pro- vide financing services to its Canadian motor- sport and marine dealers. The new company, Yamaha Motor Finance Canada Ltd., will begin operations on Jan. 1, 2015. "The creation of our own finance company is a project we have been pursuing for several years, and we believe the conditions are ideal to be announcing the creation of this new organization," Yamaha Motor Canada Ltd. president Peter Hastings said. "We are very excited to launch this new program and we look forward to provid- ing our dealers with innovative inventory financing programs to help them grow their business," said Leone Foxwell, who will be responsible for the new Inventory Finance Program. GE CAPITAL INCREASES COMMITMENT WITH SUPPORT OF EMERGING BRANDS GE Capital Commercial Distribution Finance (CDF) is rapidly growing its inven- tory financing portfolio with smaller and newer motorsports brands. CDF has started programs with manufacturers that specialize in one or two segments of the powersports market, signing upwards of 20 new entrants in the last two years. CDF's new manufacturer relationships include Gibbs Sports Amphibians, Inc., Erik Buell Racing LLC, Bennche, Inc., and Massimo Motor Sports, LLC. "We are well known for financing large, global motorsports brands. However, being a vested stakeholder in the industry means we recognize the importance of providing broad support," said Sameer Gaur, president of CDF's motorsports group. "These manufac- turers offer niche products and are a sign of good health for the overall industry." Adding specialty motorsports brands to CDF's customer portfolio provides thousands of independent motorsports dealers with additional products using their CDF credit facilities, helping to create incremental rev- enue streams and expanding customer bases for these dealers. PSB DIGEST SCOTT WINE