TCF Inventory Finance Announces Multi-Year Agreement with Sea Pro Boats to Provide Dealer Financing for its Saltwater Fiberglass Boats

DETROIT–(BUSINESS WIRE)–TCF Inventory Finance, Inc. (TCFIF), a subsidiary of TCF National Bank (TCF Bank) and an indirect subsidiary of TCF Financial Corporation (NASDAQ: TCF), and Sea Pro Boats (Sea Pro) announced today a definitive agreement to provide inventory financing to the Sea Pro Boats dealer network across the United States. TCFIF will be the exclusive financing provider for Sea Pro’s center console saltwater fishing boats effective April 1, 2020.

“TCFIF continues to develop quality relationships to support small and large businesses, creating tremendous impact for their client’s customers and bottom line,” said Jimmy Hancock, president of Sea Pro. “We’re excited they’ve decided to collaborate with us as we venture into our next phase of growth and production.”

Sea Pro aims to deliver the same unparalleled value, innovation and industry leading standard features that drove the massive success of this original product type. The multi-year program with TCFIF will provide financing for the dealers buying Sea Pro’s new line, enabling them to stock a wide selection of models.

“The enthusiasm and expertise of Sea Pro Boats make this new relationship a seamless one that also benefits and advances the marine industry,” said Jay Deverell, CEO of TCFIF. “Sea Pro has undertaken the task of innovating and relaunching their legendary boats while creating an expected 238 new industry jobs within the company. This type of bold commitment is one TCFIF is proud to support.”

“We’re thrilled to use our capabilities to support Sea Pro Boats in their continued momentum and growth in business,” said Victor Rivera, chief sales officer for TCFIF. “TCFIF offers inventory financing solutions to manufacturers, distributors and dealers across North America and our rapid growth is a product of our commitment to building deep personal relationships with our customers and providing the best products and service in the industry.”

Sea Pro is the fastest growing center console manufacturer in the saltwater fishing boat market. The company’s legendary models include the Deep V CC and Bay Series.

About TCF Inventory Finance

TCFIF is a Schaumburg, Illinois-based commercial inventory finance company offering inventory financing solutions to manufacturers, distributors and dealers in all 50 states and Canada. The company specializes in financing powersports, lawn and garden, recreational and specialty vehicles, marine products, construction, agriculture and consumer electronics and appliances. For more information about TCFIF, please visit tcfif.com.

About TCF Financial Corporation

TCF Financial Corporation (NASDAQ: TCF) is a Detroit, Michigan-based financial holding company with $46 billion in total assets and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. TCF has more than 500 branches primarily located in Michigan, Illinois and Minnesota with additional locations in Arizona, Colorado, Indiana, Ohio, South Dakota and Wisconsin. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses. For more information, visit tcfbank.com.

Source: TCF Financial Corporation

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Contacts

Tom Wennerberg (248) 498-2872 news@tcfbank.com (Media)

Timothy Sedabres (952) 745-2766 investor@tcfbank.com (Investors)

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