Sheffield Financial and Suzuki Motor of America, Inc. sign two-year financing services agreement
CLEMMONS, N.C., July 14, 2014 /PRNewswire/ — Sheffield Financial, a division of Branch Banking and Trust Company, which is a subsidiary of BB&T Corporation (NYSE: BBT), has renewed its financing services agreement with Suzuki Motor of America, Inc. for an additional two years effective immediately.
The new contract covers installment financing for Suzuki motorcycles, scooters and ATVs distributed in the United States through a network of authorized Suzuki dealers.
Sheffield, founded in 1992 and acquired by BB&T in 1997, has a strong commitment to Suzuki and its dealers and customers. “Sheffield has more than quadrupled the number of loans outstanding since the signing of our first contract with Suzuki back in January 2009,” said Jack Snow, Sheffield Financial president. “Our financing services agreements with strong powersports manufacturers such as Suzuki have fueled this growth. Suzuki is an excellent company and we are excited to continue our relationship.”
“Sheffield has consistently provided excellent financing programs and service to our customers,” said Dirk Gould, Sales Operations Manager, Suzuki Motor of America, Inc. “With the strong financial backing of BB&T, Sheffield is able to provide the type of national financing promotions that are important in supporting Suzuki dealers with retailing more industry-leading Suzuki products. Sheffield truly is a leader in the financial services industry.”
About Sheffield Financial
Clemmons, N.C.-based Sheffield Financial is a division of Branch Banking and Trust Company, which is a subsidiary of BB&T Corporation (NYSE: BBT). Sheffield, which has financed more than $10 billion in loans since its founding in 1992, currently services more than 30,000 outdoor power equipment, powersports and trailer dealers nationwide. The company provides retail financing options in all 50 states for outdoor power equipment, trailers and powersports equipment such as snowmobiles, all-terrain vehicles, utility vehicles, personal watercraft and motorcycles. For more information about Sheffield Financial, visit www.sheffieldfinancial.com. For more information about BB&T, visit www.BBT.com.
About Suzuki Motor of America, Inc
Suzuki Motor of America, Inc. (SMAI) distributes Motorcycles, ATVs, Scooters, Outboard Motors and Automotive Parts and Accessories via an extensive dealer network throughout 49 states. SMAI’s supplier, Suzuki Motor Corporation (SMC), based in Hamamatsu, Japan, is a diversified worldwide manufacturer of Motorcycles, ATVs, Scooters, Automobiles and Outboard Motors. Founded in 1909 and incorporated in 1920, SMC has 147 distributors in 201 countries. For more information, visit www.suzuki.com.
SOURCE BB&T Corporation