CHICAGO--(BUSINESS WIRE)--GE Capital, Commercial Distribution Finance (CDF) announced today that it has extended its inventory financing agreement with the American Boat Builders Association (ABA), a major buying group for independent boat builders in the U.S., through 2018. CDF has been a preferred lender to ABA’s members since the organization’s inception in 1992.
“We are happy to extend our mutually beneficial relationship with CDF and look forward to growing with them in the years ahead,” said Bill Yeargin, chairman of ABA and CEO of Correct Craft. “CDF has been a trusted resource for many years and provides ABA companies with much more than just inventory financing.”
The ABA’s board of directors has extended the agreement designating CDF a preferred inventory financing provider to its members through model year 2018. Those members, and their brands, are as follows:
- Chaparral and Robalo Boats
- Cobalt Boats
- Correct Craft (Nautique Boat Company and Fineline Industries (Centurion and Ski Supreme Boats) and Arkansas Boat Company (Basscat Boats and Yarcraft Boats)
- Grady White Boats
- Nautic Global Group (Aqua Patio Pontoons, Godfrey Pontoons, Hurricane Boats, Polarkraft Boats, Rinker Boats, Sanpan Pontoons and Sweetwater Pontoons)
- Nautic Star Boats
- Porter, Inc. (Formula Boats)
- Regal Marine Industries
- S2 Yachts, Inc. (Tiara Yachts and Pursuit Boats)
- Seabring Marine Industries (Monterey Boats)
- Stingray Boats
- Tige Boats
“We are thrilled that the ABA has extended its financing program with us, which is a testament to our longstanding relationship and commitment with its members and the industry,” said Bruce Van Wagoner, president of CDF’s marine group. “Our goal will be to continue to provide the ABA with a value proposition that includes reliable financing, business intelligence, integrated systems and outstanding customer service that they have come to know and expect over the last 20+ years.”
About The American Boat Builders Association
Based in Marietta, GA, the American Boat Builders Association is a coalition of 12 leading independent U.S. boat manufacturers with 25 brands. ABA member companies have approximately 5,000 employees in the U.S., with 17 facilities in eleven states. They produce more than 15% of all the fiberglass boats greater than 16' built in America. For more information, go to http://www.ababoats.com/.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided $36 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2014. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. For more information, visit gecdf.com or follow company news via Twitter (GEInventoryFin).
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