Roadtrek Announces New $22.5M Credit Facilities
Roadtrek Motorhomes Inc. announced the completion of several transactions on Dec. 31 for $22.5 million in credit facilities from a consortium of new and existing lenders.
The facilities will finance business operations (including supplemental wholesale floorplan for U.S. Roadtrek dealers) and facilitate foreign currency exchange contracts, according to a news release. The new lenders replace Chrysler Financial (who exited the wholesale lending business and is now winding down retail operations), their existing bank and real estate lender. GMAC continues to finance Chevrolet van chassis.
“With Chrysler Financial exiting the floorplan business, it was very important to replace our Sprinter chassis financing source so that we could ensure a continuous supply Sprinter based Roadtreks, unlike some of our competitors who have run out of Sprinter vans,” stated Jeff Hanenmaayer, Roadtrek chairman. “These facilities give us the tools we need to meet the fast growing demand for our products and ensure Roadtrek’s ongoing dominance of the Class B segment.”