The Ditch Witchorganization last week named a new financial underwriter for the company's financial services component, Ditch Witch Financial Services.
Trinity Vendor Finance, a division of Bank of the West, was selected by the Ditch Witch organization on the basis of Trinity's financial strength and its long history of providing financial services for the construction industry.
"We believe [Trinity has] all the tools we need to provide first-class financial services to our dealers and customers," said Ed MacGregor, customer and dealer finance manager for the Ditch Witch organization.
In an effort to be proactive in providing financing for its dealers and customers, the Ditch Witch organization introduced DWFS in March 2004. DWFS provides members of the worldwide Ditch Witch dealer network with affordable inventory and rental financing, and gives customers access to a full complement of retail and lease products. Some of the financing options offered by DWFS include skip-payment plans, monthly-level plans, low- and no-interest financing, accelerated-payment plans, and rental purchase transactions.
The original underwriter of DWFS was CitiCapital Commercial Corp. MacGregor says that with the move to Trinity Vendor Finance, DWFS customers will be able to benefit from the many strengths that Trinity brings to the table.
"Because of [Trinity's] reputation and worldwide financial capabilities, we chose them as our partner," MacGregor said. "Bank of the West is owned by BNP Paribas, headquartered in Paris. With assets in excess of $2.4 trillion, BNP Paribas is one of the largest banks in the world. This will give us the opportunity to expand our financial services capabilities to many of our dealers and customers worldwide.
"Our dealers and customers will not be adversely affected by this transition in any way. The name DWFS will remain the same, and customers still have access to the same high-quality services. However, the strength of Trinity and Bank of the West means that the financial services capacity of DWFS will be even greater in 2009 and going forward."
Founded in 1981, Trinity Vendor Finance has established a superior reputation in the equipment financing industry. In an increasingly competitive environment, Trinity has maintained a consistent presence in the market and has become a national leader known for first-class service and long-term relationships.
Headquartered in Perry, Okla., The Ditch Witch organization specializes in the design and manufacture of high-quality underground construction equipment.
For more information about Ditch Witch Financial Services visit ditchwitch.com/financing.
