Horsepower Financial, LLC has secured an additional $80M in funding commitments to increase its lease portfolio.
Horsepower Financial, LLC, a decade old leasing company based outside of Cincinnati, OH, has opened a new HQ in Bradenton Florida, just south of Tampa. The move coresponds with the closing of an $80M lending faclility.
Additionally, Horsepower has brought new management aboard. Chris Garrido, CEO, is a 30 year veteran of the leasing and credit challenged space. Laura Middendorf, CFO, has previous sub-prime CFO experience and over 10 years of financial leadership. With them, Rachael Westlake has joined the company as Vice President- Client Development.
The new HQ in Florida allows a less seasonal dealer base and convenient access to year-round motorcycle riding. Also, new software has created a completely automated process for dealers, reducing time and frustrations common in financing. Even customers can apply and get approved before they even step into a dealership.
Asked to sum up Horsepower's philosphy CEO Garrido said, "WE WANT A RELATIONSHIP........Most Leasing/Finance firms sign every dealer they can even though that dealer may only use their product 1 or 2 times per month. They do add up, but that is NOT our strategy. We want to go deep with our dealers; we want to be a part of how you do business every day. We want to understand your business and contribute to your success. We want you as part of our family. We call our dealers Horsepower Select Dealers. We don’t take all dealers, just the good ones. Being a Horsepower Select dealer assures your customers that we are partners."
Midendorf, the commpany's CFO, stated, "YOU’RE NOT A NUMBER. To us, you are our client, our customer. You will be connected with a personal Account Executive. They will help you sell more, trade more, earn more. If you have an issue, it’s not the usual 1-800……"hold please". You connect right to your Account Executive or our VP of Client Development."
Horsepower will be attending AIM in Las Vegas in Jan. Stop by and learn more.