WINSTON-SALEM, N.C., (June 12, 2023) – Sheffield Financial, a division of Truist Bank, Member FDIC, and Polaris Sales Inc., a subsidiary of Polaris Industries, Inc. and Polaris Boats, LLC a subsidiary of Polaris Industries, Inc., (NYSE PII) “Polaris,” have agreed to an amendment to the existing financing services agreement.
The amendment allows Sheffield to provide lending services to Polaris Boats, LLC customers through their dealer network. The contract covers installment financing for the Polaris Bennington, Godfrey and Hurricane boats.
“Polaris is pleased to announce the expansion of its strategic partnership with Sheffield Financial to include retail financing on our marine products. This partnership will provide our dealers and consumers with a competitive, easy, and flexible solution for their financing needs,” said Bob Mack, Polaris Inc. executive vice president and chief financial officer.
“Sheffield has provided seamless retail financing through the Polaris dealer network for more than a decade,” said Jeff McKay, Sheffield Financial chief executive officer. “We’ve been a partner in supporting many industry-leading Polaris products, including RANGER® and RZR® side-by-side off-road vehicles, Indian® motorcycles, and Slingshot® moto-roadsters. We are excited to expand our relationship with Polaris’ marine lines and bring Sheffield’s easy, simple and fast financing programs to the Bennington, Godfrey and Hurricane dealers.”
About Sheffield Financial
Winston-Salem, N.C.-based Sheffield Financial is a division of Truist Bank, which is a subsidiary of Truist Financial Corporation (NYSE: TFC). Sheffield, which has financed more than $35 billion in loans since its founding in 1992, currently services more than 15,000 outdoor power equipment, power sports and trailer dealers nationwide. The company provides retail financing options in all 50 states for 220 manufacturers representing over 335 brands of outdoor power equipment, trailers and power sports equipment, such as snowmobiles, all-terrain vehicles, side-by-side vehicles, motorcycles, personal watercraft and other marine products. For more information about Sheffield Financial, visit SheffieldFinancial.com.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $574 billion as of March 31, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.