Viper Powersports, Inc. (fka VPWI)

[$UPERMAN]

Viper Motorcycle Company to Provide GE Capital Floorplan to Dealers

Viper Powersports, Inc. (QB) (USOTC:VPWI)

Today : Thursday 8 November 2012

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.