CLEMMONS, N.C. — This week, Sheffield Financial and American Suzuki Motor Corp. renewed and expanded their three-year financing services agreement, effective immediately.

Executives explained the new contract covers both installment and revolving financing for motorcycles, scooters, ATVs and UTVs manufactured in the United States through a network of authorized dealers.

Sheffield, a division of BB&T Financial FSB, which is a subsidiary of BB&T Corp., emphasized that it has a strong commitment to Suzuki and its dealers and customers. The finance organization highlighted that working with major companies such as Suzuki allowed Sheffield to have the largest market share gain among all the national powersports lenders in the past year, according to an industry survey reported by PowerSports Business.

Sheffield was founded in 1992 and acquired by BB&T in 1997. Executives insist they are well-acquainted with Suzuki's customer base and dealer network. They signed their first contract with Suzuki back in April 2008 to provide revolving loans to its customers.

Since that time, Sheffield believes it has set a proven track record with Suzuki's dealers.

"Suzuki was willing to take a chance on us while we were still relatively unknown in the powersports industry," stated Jack Snow, Sheffield Financial president.

"We have never exited an industry that we entered and we don't forget those companies who helped us get to where we are today," Snow added.

Dirk Gould, finance manager at American Suzuki Motor Corp., described Sheffield as "an innovative lender that can adapt quickly to changes in the marketplace.

"With the strong financial backing of BB&T, Sheffield was able to maintain a business-as-usual attitude during the recent credit crunch," Gould pointed out. "Having a lender we know will be there in good times and in bad is one of our main priorities when choosing a financial partner."