Viper Motorcycle Company to Provide GE Capital Floorplan to Dealers
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.