Nautic Global, GE Capital discuss recent partnership
Nautic Global Group’s recent partnership with GE Capital, Commercial Distribution Finance, creates a flexible financing program that can accommodate Nautic Global’s diverse dealer base and product offerings, Nautic Global CEO Michael Kitson said.
“There is no such thing as a one-size-fits-all program, so ours is designed with flexibility in mind so that all of our dealers will benefit,” he said.
Kitson said the program’s flexibility will provide for appropriate inventory levels based on a dealer’s needs, geography and business model.
Bruce Van Wagoner, president of the marine group at GE Capital, Commercial Distribution Finance, said his company worked with Nautic using forecasting tools that develop ideal inventory levels.
“Frankly, the industry has experienced both oversupply and shortages over the past five years,” Van Wagoner said. “… The right amount of inventory on hand supports sales without excessive costs.”
Van Wagoner said the program was designed with the entire dealer network in mind to prevent competition between dealers who are selling the same product, rather than focusing on the customer.
Kitson said the partnership will also provide vender-subsidized financing programs with Nautic Global paying for much of the dealer’s floor plan expense during certain times of the year.
“Our dealers enthusiastically appreciate our program, with the floor plan financing and interest support being one part of it, albeit a very important part,” Kitson said.