Harley leasing firm revs up $40M loan

NAPLES — Chrome Capital obtained $40 million in financing from two banks to grow its pre-owned Harley-Davidson motorcycles leasing program through 700 dealers.

Naples-based Chrome says the $40 million represents half of an $80 million loan from Alostar Bank of Commerce and Comvest Capital. The proceeds will be used to retire debt and expand the company's leasing program.

“The Alostar and Comvest team, coupled with Chrome's highly efficient infrastructure, facilitates three core objectives of our business: Help our dealer partners put more riders on more bikes; create natural, debt free recurring customers; [and] provide a superior customer service experience to both the dealerships and their lease customers.” says Peter Wasmer, CEO of Chrome Capital, in a statement.

Chrome's TestRide program is one of the only national leasing programs for pre-owned Harley-Davidson motorcycles. After signing up its first dealership partner in late 2011, the company has grown to nearly 700 participating dealerships in 43 states.

You can read a story about Chrome in the Business Observer by clicking here.