Sheffield Financial and Honda Marine announce a new multi-year retail financing contract

CLEMMONS, N.C., Aug. 28, 2018 /PRNewswire/ -- Sheffield Financial, a division of Branch Banking and Trust Company, and Honda Marine, a division of American Honda Co. Inc. (Honda Marine), have agreed to a multi-year financing services agreement, effective immediately. Honda Marine, a division of American Honda Motor Co., Inc., markets a comprehensive range of four-stroke, outboard marine engines.

The agreement allows Sheffield to provide lending services to Honda Marine customers through the Honda Marine dealer network. The contract covers installment financing for Honda engines and boat packages, which include Honda engines.

"Honda Marine outboards set the standard for fuel efficiency and ease of operation while staying true to the core Honda attributes of durability, quality, reliability and quiet operation," said Michael Rickey, senior manager, Honda Marine. "Our partnership with the Sheffield Financial team also allows us to expand the range of value-added services that the Honda Marine dealer network provides our customers. Through Sheffield Financial, we welcome the opportunity to provide our customers with flexible and innovative approaches to financing for our outboards and boat packages."

Sheffield, founded in 1992 and acquired by BB&T in 1997, has a strong commitment to its manufacturers, dealers and customers. "We are proud to add Honda Marine as our newest manufacturing client," said Jack Snow, Sheffield Financial CEO.

"We pride ourselves at Sheffield in representing the best original equipment manufacturers (OEM) in the business," said Sheffield Financial President Jeff McKay. "This is a new chapter in our marine lending, and we are honored to partner with such a high quality OEM as Honda."

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 $22 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 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 BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $222.7 billion in assets and market capitalization of $39.1 billion as of June 30, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 1,900 financial centers in 15 states and Washington, D.C. and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.

About Honda Marine
Honda Marine, a division of American Honda Motor Co., Inc., markets a complete range of marine outboard motors. With models ranging from 2.3 to 250 horsepower, its comprehensive product line is powered exclusively by four-stroke engines. Honda Marine pioneered four-stroke engine technology and has been designing and building four-stroke outboard motors for more than 50 years, setting the benchmark for fuel efficiency, quiet operation and low emissions. The Honda Marine full line of current production models meets the rigorous California Air Resources Board (CARB) 3-star standards, enabling availability and regulatory compliance in all 50 states.

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SOURCE Sheffield Financial