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Article: The Toro Company and TCF Inventory Finance Form Joint Venture to Provide Channel Financing.
- Article from:
- Investment Weekly News
- Article date:
- August 29, 2009
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The Toro Company (NYSE: TTC) announced the creation of a new joint venture with TCF Inventory Finance, Inc. (TCFIF), an indirect subsidiary of TCF Financial Corporation (NYSE: TCB). Under the name Red Iron Acceptance, LLC, the new commercial finance entity will provide U.S. distributors and dealers and select Canadian distributors of the Toro and Exmark brands with a reliable, cost-effective source of floor plan and open account financing. In conjunction with the joint venture TCFIF's affiliate, TCF Commercial Finance Canada, Inc., will provide floor plan and open account financing to dealers located in Canada.
"Ready access to cost-effective financing remains at ...