Solex LLC, an online lending solution to the RV, marine, motorcycle and powersports industries, has closed its doors, company President Steve Butler told RV PRO.
In a brief phone conversation with RV PRO, Butler confirmed reports that Solex is no longer in business. However, he said he couldn’t comment on the reason.
"We regret the fact that we had to close our doors and wish our clients the best. Supreme Software has taken care of many of our clients and provides an excellent service," Butler added.
Idaho Falls, Iowa-based Solex offered an online system that connected dealers, credit bureaus and lenders, providing dealers with multiple financing options within seconds. A selling point for Solex was that its loan documents were guaranteed to be in compliance with lender and state guidelines and were compatible with all laser printers.
Supreme Software, a Rapid City, S.D., company that offers similar services to Solex, is now offering a replacement solution for Solex customers, according to Terry Adelman, president of Supreme Software. Adelman told RV PRO he and Butler worked out details in early December for Supreme Software to offer its services to Solex customers so they wouldn’t be left without service once Solex ceased operations on Dec. 31.
Adelman said Solex customers can be comfortable doing business with his company, which he said has been in business since 1986 and which represents roughly 400 dealers. In addition to offering documentation services similar to Solex, Supreme Software offers added F&I functions and features such as tracking prospects, according to Adelman.
RV dealers wanting more information on Supreme Software can visit www.supremesoftware.com/rvspecial.htm or contact the company at 877-404-1102.