GE Capital and Nautic Global Group announce strategic inventory finance program
GE Capital and Nautic Global Group
August 7, 2012
Filed under News
CHICAGO–(BUSINESS WIRE)–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.
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.