Medallion Bank announced today a strategic partnership with Richard Petty Motorsports (RPM) to support RPM and the No. 9 Ford team driven by Sam Hornish Jr. Medallion Bank, a recreational and home improvement lending institution will serve as the primary sponsor of the No. 9 in select events throughout 2015 beginning this weekend at the Atlanta Motor Speedway. Medallion Bank, based in Salt Lake City, Utah, is owned by Medallion Financial Corp., a publicly traded specialty finance company and co-owner of RPM.
Medallion Bank specializes in recreation loans, home improvement loans, asset based loans and taxi medallion loans. For recreation loans, Medallion Bank offers an alternative financing option to other lenders' credit scoring requirements. Its home improvement loan program gives contractors flexible financing options for homeowners wishing to make improvements.
The partnership with companies in the outdoor, recreational and do-it-yourself categories align with the NASCAR fan base. The sponsorship of the No. 9 team is a perfect B2B scenario and one that will help grow all parties involved.
Already, Medallion Bank has reached an agreement with Camping World to serve as a co-primary sponsor for the race at Las Vegas Motor Speedway on March 8 and again at Phoenix International Raceway on March 15. This is the first of many business collaborations that will benefit Medallion Bank, its dealers and RPM.
"This is not a situation of our organization just putting an owner's company on a car," said Andrew Murstein, a director of Medallion Bank and Co-Owner of Richard Petty Motorsports. "This is a purpose-driven partnership that brings additional value to Medallion Banks' recreational dealers and proves again the value of Richard Petty Motorsports in the NASCAR marketing landscape. We have already had many successful discussions with different Medallion Bank dealers who see the benefit of advertising and promoting with us through this unique program."
Companies that partner with Medallion Bank not only receive over 100 years of combined experience in the lending category, but additionally have the opportunity to collaborate with one of the most famous brands in all of sports, Petty. The Petty brand is synonymous with winning and has more wins than any other in the premier NASCAR Sprint Cup Series. That tradition is only surpassed by the value it gives to partners off the track as well.
"This is a tremendous opportunity for our current and new dealers of Medallion Bank to partner with Petty and Sam Hornish Jr. in a premier sport," continued Murstein. "RPM offers great value for all our partners and concentrates on helping grow their business. It's why this is a great value and we are presenting this to our current and new dealers."