Patriot Motorcycle Corporation, a designer, manufacturer and distributor of hybrid motorcycles and motorcycle accessories, announced November 14th that it has entered into an agreement with Jacksonville, Florida-based Bombardier Capital to provide floorplan financing to Patriot Motorcycle dealers. Bombardier is the financial service arm of global transportation equipment manufacturer Bombardier Inc.
"We are pleased to offer an attractive floorplan financing services program to our pre-approved dealerships," said Patriot Motorcycle CEO and president Michel Attias. "Our new dealers are averaging initial orders of between $100,000 and $150,000 and this new service will allow our dealers to finance their purchases with interest-only payments until their inventory of Patriot Motorcycles is sold. Of course, this arrangement is beneficial to Patriot as the funds from Bombardier Capital reach our account within three days, eliminating accounts receivable situations and improving cash flow."
The company is currently working with over 45 dealers in North America, Puerto Rico, Mexico and South America for pre-approved financing with Bombardier Capital.
Attias noted that the company launched its 2002 media and advertising campaign Monday, November 12 with advertisements in publications such as Full Throttle, Hot Bikes and Cycle Traders. "Along with our new 2002 media campaign, we have introduced a significant co-op advertising campaign for our dealers located throughout the U.S.," added Attias.
About Bombardier Capital
Bombardier Capital is an international supplier of financial solutions, providing leasing and asset management services for a range of consumer products, aircraft, railcars and other industrial equipment. Bombardier Capital's Inventory Finance business unit has been providing floorplan-financing services to dealers in the manufactured housing, marine and recreational products industries since 1974.
About Patriot Motorcycles Corporation
Patriot uses the Harley-Davidson twin-cam 95 cubic inch engine, Harley-Davidson transmissions and 'Screamin Eagle' pistons. The company's broad range of motorcycles are designed on rigid, softail or rubbermount frames and feature aluminum wheels, stainless steel handle bars, adjustable formula shocks for rear suspension and ground-out welds for a smooth 'paint on surface'. Patriot provides a four-year limited manufacturer's warranty that is transferrable and can be extended for seven years. To learn more about Patriot Motorcycles, visit the company's web site at www.patriotmotorcycles.com.
