News

Northpoint Announces the Retirement of CFO Steve Culp

Steve Culp, Chief Financial Officer, and one of the founding members of Northpoint Commercial Finance, has announced his retirement.  While Steve officially retired effective March 1, he remains involved in the business on a transitional basis working with team members to wind down key projects and initiatives.  This process should continue through mid-summer.

Steve spent the last five years of his career launching Northpoint and playing a critical role in the company’s growth and success, capping an illustrious career that included 30 years in the industry.  Culp previously held leadership roles in finance, treasury, and controllership in the distribution finance businesses at ITT Commercial Finance, Deutsche Financial Services, General Electric and Textron Financial.

Dan Radley, CEO, stated, “Steve’s experience, passion, and hard work was and still is a key component to Northpoint’s launch and success. His focus on teamwork and helping out wherever and whenever needed is indicative of the Northpoint culture.  The continuation of that mindset will be a key part of Steve’s Northpoint legacy.  He will be greatly missed as a dedicated member of our team.”

“After being in the industry so long, it has been a great experience to start a new business along with the colleagues I have known for so many years. Northpoint has grown by adding experienced and talented members to our team, and being a part of that growth has been both rewarding and fun.” Said Culp. “Northpoint’s success is due to its employees and the success of the dealers and manufacturers that we serve; and my role at Northpoint has been the best of my career because I have seen Northpoint become the great organization that it is today.”

Once his responsibilities have officially concluded Steve looks forward to spending more time at the beach with his wife Mary, children and grandchildren and traveling extensively.

Northpoint Commercial Finance Celebrates Five Years of Success

After five years of substantial growth, Northpoint Commercial Finance continues to successfully expand their market share, penetrate new product lines, and develop exclusive relationships with their inventory finance and private label program solutions. From a start-up company to an established and internationally recognized entity, the team at Northpoint has not only met but exceeded their goals, year after year.

 

In March 2012, Northpoint Commercial Finance moved into their new office space with big ideas to build strong, mutually beneficial relationships with manufacturers, distributors, and dealers. Northpoint leaders recognized a void in the market, and created a business model centered around customer service, superior communication, and efficiency.  The team was enthusiastic about focusing on the customer and offering creative options that were lacking at the time with other lenders. The Northpoint management team averages 20 years in the industry and brought their knowledge of what works from previous experience and built a strong cohesive foundation by incorporating teamwork, efficiency, and an unwavering dedication to customers. Today, Northpoint is thrilled to report that they have grown to nearly 100 employees, with accounts in all 50 states and all provinces in Canada.

 

In addition, this drive to revolutionize what people knew about the floorplan financing industry continued to Northpoint’s branding strategy, propelling them to new levels. From their innovative website to an original advertising campaign, their brand, robust and recognizable, proved to speak to their target audience and garnered the attention of prospective clients. Now those clients are here to stay. The business continues to grow, hire new people, and form strategic partnerships. Northpoint Commercial Finance can’t wait to see what the next five years will bring.

Northpoint Commercial Finance Hires Natalie Bouchard as Director – Business Development

Northpoint Commercial Finance Hires Natalie Bouchard as Director – Business Development

 

Burlington, ON February 13, 2017 – Northpoint Commercial Finance is pleased to announce that Natalie Bouchard has joined the company as a Director of Business Development in Canada, to further develop their growing portfolio. Natalie will join the efforts of the existing field sales team to provide enhanced regional coverage of existing customers and develop new business opportunities.

Based in Alberta, Natalie Bouchard will lead business development efforts in Alberta, Saskatchewan, and the Northwest Territories. She brings more than 16 years of floor plan financing experience with companies such as TCF Commercial Finance, GE Commercial Distribution Finance, and Transamerica. Previously, Bouchard has held sales and management positions throughout her finance career and is passionate about customer service. Her drive, care, and enthusiasm make Natalie a very welcomed addition to Northpoint.

“We are extremely pleased and excited about Natalie joining the Northpoint team”, said Bob Eddy, Vice President – Business Development of Northpoint Commercial Finance in Canada.  “We continue to experience significant growth, and having Natalie on our team and focused on business development in Western Canada, is a huge plus and very important to our continued success.  Natalie’s knowledge, experience, and energy will be a great fit, and we are elated to have her onboard”.

About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering inventory lending, floor plan finance and asset-based financing.  A knowledgeable lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers, and dealers in a variety of consumer and commercial products industries.  Their team offers a creative, flexible and personal approach combined with innovative technologies, and streamlined processes. For more information about Northpoint’s product offerings, visit www.northpointcf.com.

Northpoint Commercial Finance Expands Field Sales Organization

Alpharetta, GA, January 30, 2017 – Northpoint Commercial Finance, a diversified inventory finance lender, is pleased to announce the hiring of three additional Directors of Business Development.  These additions will augment the existing field sales team, provide enhanced regional coverage to service customers, and help further facilitate Northpoint’s robust growth across a variety of industries.

 

With a highly successful background in floor plan financing, Bob Swien will lead development efforts in Texas, Oklahoma, Louisiana, and Arkansas. Swien joins the Northpoint team from NextGear Capital with deep experience that has been gained over more than 30 years in financial services. Swien’s strong track record and expertise includes a heavy emphasis on business development and growing dealer relationships with such companies as ITT Commercial Finance, Green Tree, Textron Financial, and TCF Inventory Finance.

 

Based in Pennsylvania, Rick Myers will lead development efforts in the eastern states of Pennsylvania, New York, Maine, Vermont, New Hampshire, Massachusetts, Connecticut, Rhode Island, and New Jersey. He brings more than 30 years of floor plan financing experience with companies such as Transamerica, Deutsche Financial Services, Textron Financial, Cessna Finance, and most recently, NextGear Capital.

Previously, Myers has held senior sales and management positions throughout his extensive finance career.

 

Adam Stout joins the Northpoint team as a Director of Business Development overseeing Idaho, Montana, Oregon, Washington State, and Alaska. Stout was most recently a territory sales manager for Jacobsen, a division of Textron. He comes to Northpoint with a strong background in financial services that he received while previously working at EverBank Commercial Finance, TCF Inventory Finance, and Iowa State Bank.

 

“This is an exciting growth period for Northpoint as we expand our customer base and provide innovative, customized finance solutions to help customers grow,” said Jeff Olander, Vice President, National Accounts. “With their decades of experience and top-notch skills, we’re confident Bob, Rick, and Adam will play a strategic role in expanding and deepening relationships in our key market areas.”

 

About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering inventory lending, floor plan finance and asset-based financing. A knowledgeable lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers, and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies, and streamlined processes. For more information about Northpoint’s product offerings, visit www.northpointcf.com.

Linhai ATV Selects Northpoint Commercial Finance as Exclusive North American Inventory Finance Partner

Alpharetta, GA, January 9, 2017 – Northpoint Commercial Finance (Northpoint) announced Jiangsu Linhai Power Machinery Group Corp. (Linhai) has chosen Northpoint as their exclusive floorplan financing partner for North American dealers. The partnership will help both companies expand while ensuring dealers have access to competitive rates and terms, flexible programs, and exceptional customer service.

For more than 60 years, Linhai has developed and produced small engines and power machinery, notably a variety of two-stroke and four- stroke gasoline engines and ancillary power machinery. Its main products include ATVs and UTVs, general-purpose engines, mini gasoline generating sets, and affiliated small power machinery.

“We are excited to help Linhai build their dealer network while offering their dealers a world class inventory finance program and flexible financing solutions not found at other floorplan financiers,” said Dan Radley, Northpoint’s CEO. Northpoint is a leader in inventory financing solutions.

The partnership is a result of two ambitious companies joining forces to develop new relationships and build their book of business and geographic footprint in the powersports industry. Northpoint will provide Linhai dealers with introductory free floorplan financing to help bring more product to market.

“We are a pioneering business model that enables customers to continually control their dealerships, changing the way the industry looks at business along the way,” said Todd Pagel, Linhai’s President. “Linhai offers the most competitive dealer margins compared to other OEMs, exclusive territories, and now very advantageous floorplan programs through Northpoint.”

Linhai has eliminated a step in the distribution chain and will be marketing its products under a new brand TITAL, which stands for ‘Take It To Another Level’.  The move will enable the company to be more reactive to the needs of both dealerships and the end consumer, and more effectively control supply chain quality. Northpoint will be a partner in that growth.

“Having a single wholesale financing lender with a successful history in the powersports industry to assist our newly appointed dealers is crucial to our plans,” said Jeff Brunson, Linhai’s Vice President of Sales and Marketing. “Their industry experience, product knowledge and dealer communications savvy were key factors in why we selected them.”

Pagel noted Northpoint’s investment in field staff was another contributing factor in sealing the deal. Northpoint will help Linhai manage the dealer base, attract new dealers, and assist them with financing products beyond the introductory program.

 

About Linhai

Linhai Powersports USA Corporation (now called TITAL) is the US branch of Jiangsu Linhai Power Machinery Group Corp. based in Norcross, Georgia with distribution throughout North America.  LINHAI was founded in 1956 with 60 years in the development and production of small engines and power machinery.  Its main products include ATVs and UTVs, motorcycles, motorcycle engines, electric bikes, general-purpose engines, mini gasoline generating sets and small power machinery such as pumps, chainsaws, pneumatic extinguishers and gardening equipment.

 

About Northpoint Commercial Finance

Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering inventory lending, floorplan finance, and asset-based financing.  An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers, and dealers in a variety of consumer and commercial products industries.  Their team offers a creative, flexible, and personal approach combined with innovative technologies and streamlined processes. For more information about Northpoint’s product offerings, visit www.northpointcf.com.

Northpoint rallies to support a great cause

On November 5, 2016, several Northpoint employees joined over 700 registered runners and walkers to support the Pediatric Brain Tumor Foundation at Starry Night Atlanta 8.5K.  This run/walk event was the culmination of a month long fundraising effort by all the US and Canadian Northpoint employees.  The Atlanta event grossed over $120,000 in total donations for the PBTF, and the Northpoint team was the fourth largest team donor at the event!

 

The evening event was followed by food, entertainment, and games for the families and teams.   The activities also featured a lantern ceremony after sunset, which honored over 70 Stars (children currently undergoing brain tumor treatments) and Eternal Stars (children who have passed away from a brain tumor).

 

Each one of the 28,000 steps in this 8.5K honored one of the 28,000 children in the U.S. living with a brain tumor.   Starry Night 8.5K events raise funds for research to combat more than 100 types of childhood brain tumors.  They also support services for families at the local hospital or community organization.

 

About the Pediatric Brain Tumor Foundation:

The Pediatric Brain Tumor Foundation is the world’s leading nonprofit funder of childhood brain tumor research and serves the children and teens in the United States who are living with the diagnosis of a brain tumor. Their programs include free educational information about brain tumors, college scholarships, Ride for Kids motorcycle charity events and Starry Night walk/runs.  For more information, visit Pediatric Brain Tumor Foundation – Georgia Chapter.

Northpoint Commercial Finance Believes That Success Comes from Teamwork

Northpoint Commercial Finance is a company that prides itself on its culture. As a diversified inventory finance company that partners with manufacturers and dealers to provide unique and successful financing for their products, they place communication, teamwork, and customer service as their highest priorities.

Northpoint team members are cross-trained in multiple areas of the business, so they not only understand their current function, but the business as a whole. The Operations team, which is empowered to make decisions and has direct access to senior management, is led by Dave Sapienza (AVP Operations), Account Executives Debra Burney and Bob Knapp, Senior Account Manager Erin Maher, and Account Managers Tara Bayke, Dena Horton and Katy Mitchell.

Jeff Olander, Vice President of National Accounts, states, “Most of our team members have spent all of or at least the bulk of their career in this business. One of the main reasons why is that we’re passionate about what we do and truly value the relationships we have built over the years with our manufactured housing retailer customers. The most enjoyable part of the job is becoming a true business partner of our retailers, helping them navigate through the inevitable ups and downs of a business cycle and ultimately playing a role in their success.” A recent customer survey indicated 90% of Northpoint dealers planned on expanding the relationship. Northpoint believes this is due to their unmatched speed in execution and high levels of customer service, thanks in large part to the efforts of the Operations team.

In the manufactured housing business, retailers of all sizes have some excellent “runs” in their new home sales activity throughout the year over a relatively short period, resulting in challenges for both retailers and manufacturers. The Northpoint Operations team coordinates closely with both sales and credit to address these opportunities expeditiously, and oftentimes proactively, with seasonal overlines or temporary uplifts. When unforeseen instances occasionally occur, needs are addressed through an order specific overline. Operations, and all of the Northpoint team, understands the critical importance of approving these orders and reacts quickly to accomplish what needs to be done.

For more Information about Northpoint Commercial Finance, please contact Jeff Olander, Vice President of National Accounts, at jolander@northpointcf.com or visit www.northpointcf.com.

Northpoint Commercial Finance to Provide Financing for ARGO Dealers

New Hamburg, ON, September 9, 2016 – Northpoint Commercial Finance (Northpoint), a diversified finance company that provides flexible inventory lending and floorplan financing solutions, has partnered with ARGO to be the exclusive financier of their dealer network across the United States and Canada. ARGO’s partnership with Northpoint will include flexible, manageable, and customized terms with a dedicated customer support team.

Headquartered in New Hamburg, Ontario, ARGO, a division of Ontario Drive & Gear Limited, provides extreme terrain vehicles to a network of over 300 dealers across Canada and the United States, a figure which the company plans to double in the next few years.

For 50 years, ARGO has built the most successful amphibious Xtreme Terrain Vehicles (XTV) in the world. With a multitude of applications including commercial, public sector, robotics, and personal recreation, ARGO’s will climb, crawl or swim anywhere users need to go.

“Northpoint is looking forward to assisting ARGO, a company built on high standards, with their finance solutions and helping grow the company’s burgeoning dealership transactions,” stated Chris Cook, Northpoint’s Executive Vice President and General Manager of the Canadian market. “ARGO is an iconic and trusted brand; however, in this ever-changing market dealers need an edge with creative and flexible options to turn their inventory.”

“ARGO stands firm behind providing our dealers and customers with exactly what they need,” commented Brad Darling, President of ARGO. “As we roll out additional industry-specific models to meet the market’s needs we must also provide attractive financing opportunities that address these needs as well. Our new partnership with Northpoint is a significant opportunity to increase sales and ensure the success and profitability of our dealers and I’m confident that it will be well received across our North American network.”

About ARGO

ARGO Xtreme Terrain Vehicles (XTV) and custom utility packages are manufactured since 1967. ARGO markets its products through a network of independent dealers and distributors located throughout the United States and Canada and through distributors representing dealers in Europe, Russia, South America, the Middle East, Asia and other international markets. ARGO’s unique durability, safety and versatility are driven by the renowned engineering capability of its parent company, Ontario Drive & Gear Ltd. (ODG). Since 1962, ODG has manufactured quality precision gears and transmissions.

About Northpoint Commercial Finance

Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering inventory lending, floorplan finance, and asset-based financing. An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies, and streamlined processes. For more information about Northpoint’s product offerings,
visit www.northpointcf.com.

Northpoint Commercial Finance Closes Financing with Top 100 Dealer in North America

Alpharetta, GA, August 1, 2016 – Northpoint Commercial Finance (Northpoint) has once again earned new business based on their innovative approach. Northpoint, a diversified inventory finance company, announced they have developed a relationship with Plantation Boat Mart (Plantation), providing exclusive financing for HydraSports Custom boats. Plantation is one of the marine industry’s Top 100 Dealers in North America, has been the number one HydraSports Custom dealer in the world for the past 17 years, and is the factory direct test center for HydraSports Custom boats.

The financing facility has a built-in accordion feature for future growth and will give Plantation the liquidity and availability they need to move ahead with production and open up new markets, possibly worldwide. Previous financing limited their cash flow and capped growth potential.

“We chose Northpoint because of their innovative deal structure, their flexibility, and their speed to decision,” said Elias P. Delatorre, III, Plantation owner and president. “With financing that best fits our needs, we’re looking forward to an exciting new growth chapter for the HydraSports brand.”

HydraSports is a line of high-end 30’-and-up power boats with the ability to custom design start to finish. The company’s unique model and approach did not lend itself to traditional bank or asset based lending.

“Plantation needed a lender who could develop an innovative loan structure, offer more liquidity and collateral availability, and be flexible on terms to facilitate growth,” said Northpoint’s Russell Baqir. “We’re pleased to be able to respond to their needs and to help them grow the brand.”

As a privately held commercial lender, Northpoint could offer Plantation a nimbler response and flexible programs not typically found in today’s highly regulated banking environment. Absent a multi-layer approval system, Northpoint is able to expedite credit decisions and transactions, and enhance the customer experience.

About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices in the U.S. and Canada, is a diversified financial solutions provider offering inventory lending, floorplan finance and asset based financing. An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies and streamlined processes. For more information about Northpoint’s product offerings, visit www.northpointcf.com.

Northpoint Commercial Finance Expands Field Sales Organization

Alpharetta, GA, June 26, 2016 – Two new Directors of Business Development have joined Northpoint Commercial Finance’s Field Sales Organization. Northpoint is a diversified finance company that provides flexible inventory lending and floor plan financing solutions.

With a highly successful background in floor plan financing, Richard Derbonne will lead development efforts in Texas and Oklahoma. Derbonne joins the Northpoint team from GE Franchise Finance with deep experience gained over more than 20 years in financial services. Previously, Derbonne held senior sales and management positions with such companies as Transamerica, Bombardier, First Horizon National and GE Commercial Distribution Finance.

Based in North Carolina, Greg Nash will lead development efforts in the eastern states of North Carolina, Virginia, West Virginia, Maryland and Delaware. He brings more than 25 years of floor plan financing experience with companies such as ITT, Deutsche Financial Services, Textron Financial, and most recently, NextGear Capital. Nash’s strong track record and experience includes a heavy emphasis on business development and growing dealer relationships.

“This is an exciting growth period for Northpoint as we expand our customer base and provide innovative, customized finance solutions to help customers grow,” said Jeff Olander, Vice President, National Accounts. “With their decades of experience and top-notch skills, I’m confident Rick and Greg will both play a key role in deepening relationships in our key market areas and strengthening our resources.”

Director of Business Development Greg DeCastro, who previously covered Texas and Oklahoma, has relocated to South Carolina and will cover that state along with Georgia and eastern Tennessee.

 

About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering inventory lending, floor plan finance and asset based financing. An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies, and streamlined processes. For more information about Northpoint’s product offerings, visit www.northpointcf.com.