CHICAGO--()--GE Capital’s Commercial Distribution Finance (CDF) business announced today it will be the strategic floorplan finance provider to Nautic Global Group, Inc. (NGG), a major U.S. boat manufacturer. The jointly developed program is available immediately to all Rinker, Hurricane, Godfrey Pontoon and Polar Kraft dealers in the U.S.
“It is important for our dealer network to have access to inventory and to have a financing source that understands our distribution network”
This program will provide NGG dealers with specialized, vendor-subsidized financing programs and terms, and a dedicated, expert staff that is committed to providing world-class customer service. Additionally, dealers will have access to COMS, CDF’s proprietary online inventory finance management tool, and Analytics Online, which provides crucial information and insights about inventory.
“It is important for our dealer network to have access to inventory and to have a financing source that understands our distribution network,” said Michael Kitson, chief executive officer of NGG, which is based in Elkhart, IN. “GE Capital has the right industry expertise, and the ability and willingness to offer flexible programs so our dealer network can reach their business goals.”
“This strategic program provides dealers with the ability to efficiently manage their cash flow as they acquire and stock the inventory they need to realize sales of the NGG brands they represent,” said Bruce Van Wagoner, president of CDF’s marine group. “NGG products are turning quickly at retail and GE Capital is excited to align with NGG to offer its dealers more favorable programs.”
For more than 50 years and through all business and economic cycles, CDF has offered customer-centric new and pre-owned floorplan programs that enable marine dealers to stock a broad selection of products. Inventory financing, also known as floorplan financing, is an important element of a successful manufacturer-dealer business model as manufacturers and distributors benefit from enhanced product flow and increased sales opportunities, and dealers obtain improved terms and credit availability.
With industry-leading products including Rinker Express Cruisers and Captiva Sportboats, Hurricane Deck Boats, Godfrey Pontoon Boats and Polar Kraft Aluminum Fishing Boats, Nautic Global Group proudly manufactures a “boat for every passion” and is one of the largest boat manufacturers in the U.S. For more information on the company and its brands, visit www.NauticGlobalGroup.com.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $32 billion in financing for more than 30,000 manufacturers, dealers and distributors across North America in 2011. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. For more information, visit http://www.gecdf.com/or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.